Clameur de Haro was, to say the least, unimpressed by the both astonishing and disturbing exhibition of presumption, going beyond the remit of one’s office, and straying into the political arena by a supposedly impartial public servant, provided recently by Mr John Rogers, the Acting Head of TTS.Saturday, October 24, 2009
Mr Rogers Has Ideas Above His Station
Clameur de Haro was, to say the least, unimpressed by the both astonishing and disturbing exhibition of presumption, going beyond the remit of one’s office, and straying into the political arena by a supposedly impartial public servant, provided recently by Mr John Rogers, the Acting Head of TTS.Tuesday, October 20, 2009
EU Tax Hypocrisy – Hopefully The Fightback Begins.…
This is good news, for one of the other key speakers is Richard Teather. Apart from his role as Senior Lecturer in Tax Law at Bournemouth University Business School, Mr Teather is also the author of the much acclaimed “The Benefits of Tax Competition”, probably one of the seminal works on the economic justification for, and benefits arising from, the competition provided to high-tax jurisdictions by their relatively low-tax counterparts. CdeH’s own copy is much read, and extensively bookmarked. Mr Teather, thankfully, is also an adviser to the States of Jersey scrutiny functions on tax policy and tax matters.
Mr Cook himself has sound views on the futility and hypocrisy of the attempts by high-tax jurisdictions to deflect attention from their own macro-economic and fiscal deficiencies by attempting to coerce low-tax jurisdictions into emulating them, and Clameur de Haro makes no apology for repeating them.
If through the populism of voter appeal or through some systematic ideology the means of wealth creation are overburdened, the incentive to create wealth is diminished, and governments consume a greater and greater proportion of the total economic value available. Eventually the economic engine becomes too dependent on an inverted pyramid of wealth creators. The creators become disincentivised and go elsewhere, or simply down tools.
Free markets, globalisation and tax competition have all combined to produce stellar growth in world GDP over the last thirty years pulling countless millions out of poverty.
An unlikely alliance of tax hobbyists, left wing newspapers, trades unions, and development agencies has catalysed around calls for greater concentration of the means of wealth creation in the hands of governments, and implicitly greater taxation of business and wealthy individuals through the outlawing of wealth structuring and planning, together with restrictions on cross border capital flows. They hope that their own constituencies will be beneficiaries of this new ‘contract’, with the authors, the tax hobbyists, gaining fame and funding, and their supporters feeling validated in their enduring distrust of the wealthy and their advisers.
Moves are in train to stigmatise wealth structuring and planning; to restrict capital movement through attacks on the use of international finance centre:, and to undermine transfer pricing arrangements. If successful the combined effects of these protectionist measures will be to trap capital within borders, significantly reducing overall economic activity.
Such measures will restrict wealth creating activity and encourage growth in central government expenditure. The net effect will be a constriction of wealth, a reduction in tax bases and a loss of global prosperity, driven by a short sighted grab for tax, all delivered through the Trojan horse of transparency.
To accuse banks, or companies, or individuals, of illicit or immoral behaviour because they plan their international affairs in perfectly legal ways simply raises the spectre of wrongdoing in a misleading and mischievous manner. Paid for ‘research’, produced by the tax hobbyists, supported by self interested union groups, and trumpeted by sympathetic bugles, claims that billions is being misappropriated through international finance centres. These claims have no credible evidence underpinning them, demonstrating an opacity which these same sources would find intolerable were it postulated by others.
Friday, October 16, 2009
Does The Anglosphere’s Libertarian Capitalism Produce More Creative Freedom?
Clameur de Haro remembers his youthful self, in those far-off days possessed of long-ish and blond-ish locks and always an aficionado of Whistle Test rather than TOTP, watching the performance, mesmerised. It was one of those moderately seminal experiences we can all recall in our lives, in CdeH's case a Damascene conversion to the blazing vibrancy and musical integrity of Southern Rock that’s lasted now for 34 years.
But looking it again after all this time got CdeH thinking - why is it that the greatest and most successful rock bands of the past 40 years have come predominantly, not just from the democracies of libertarian capitalism, but specifically from their Anglosphere countries?
Is it just the superficially obvious answer of commonality of language and culture? Well, maybe, but that doesn’t quite feel like the whole story.
Or could it somehow be more than this - a subtle consequence of the systems that regulate the Anglosphere societies being based on common law with the presumption that we are all free to do anything we like which is not actually prohibited, rather than the Continental tradition of codifed law that restricts citizens' freedom to only that which is specifically permitted?
So that a bunch of music-mad teenagers in Jacksonville, Florida in 1964 could just go ahead and get together to express themselves without needing 27 separate permissions plus elf'n'safety and risk assessments from state, county and municipal bureaucracies? And in the process create, out of nothing, an artistic and commercial product that millions have exercised their freedom of choice to buy for 30 or 40 years, and still do.
And perhaps that’s a handy reminder also to the dirigiste leftists who argue that libertarian capitalism is a zero-sum game, that there exists by definition only a fixed total of wealth, which requires activist governmental intervention to re-distribute it “fairly”. The amount of wealth isn’t fixed – it can be created out of apparently nothing, provided that individuals and entrepreneurs are allowed the freedom to create it.
Is it really that fanciful to wonder whether, if the enviro-militant Greenists get their way, in five years time, 50 years after Skynyrd was formed, the local jobsworths of the Barack Obamania Federal Energy Use Control & Allocation Agency will tell another bunch of music-mad teenagers in Jacksonville, Florida that they’re not allowed the obligatory licence to just get together for a band practice and jam session in a friend's garage, because the power requirement would represent an irresponsibly unnecessary and frivolous use of the planet's precious resources?
What a lot of enjoyment future Clameurs de Haro would miss. And what an unrelievedly dreary and joyless world it would be. We have to stop it happening, and with the wheels slowly but inexorably starting to come off the Great Anthropogenic Climate Change Scam wagon, we will. But in the meantime, and just for 5 minutes and 41 seconds, click the video clip to full screen, turn up the volume on your speakers, sit back, and enjoy those classic riffs.
Add to del.icio.usDigg It!Stumble ThisInto The Lion’s Den With Daniel
Reluctant though Clameur de Haro is to compete with Daniel in the confines of the Lion’s Den, on examining more closely Mr Wimberley’s comments on some of the Greenism issues aired in CdeH’s recent post On Epithets, Labels, Beliefs, and Definitions ………, it does strike CdeH that Mr Wimberley’s response is, interestingly, equally significant for what he doesn’t say, rather than what he does. Tuesday, October 13, 2009
Clameur De Haro's Political Compass
Monday, October 12, 2009
On Epithets, Labels, Beliefs, and Definitions ………
CdeH subscribes to the view of The Political Compass that the traditional “left” and “right” label is no longer sufficiently adequate to describe positions on the political playing field, because the continuum is one-dimensional, and predominantly an indicator of economic position – ranging from communism or overwhelmingly statist collectivism (on the left), to unfettered, unregulated, laissez-faire capitalism (on the right). And that a more sophisticated and illuminating definition of politico-economic philosophy can be made by complementing location on the economic dimension with a statement of position on the social, authoritarian-to-libertarian continuum, ranging from ultimate authoritarian (fascism, in fact) to ultimate libertarian (virtually anarchy).Saturday, August 08, 2009
Deconstructing the Financial Crises
On his way back from the Far East, Clameur de Haro passed a good deal of time reading arguably one of the best books yet to be published on the causes of the 2007-08 credit crunch and the subsequent banking crisis, Gillan Tett's book "Fool's Gold". 