Keynesianism on parade, Rio 2016

Title: Keynesianism on parade, Rio 2016
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Date Posted：08/08/2016 6:31 PMCopy HTML

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/09/2016 2:48 AMCopy HTML

<iframe width="560" height="315" src="https://www.youtube.com/embed/d0nERTFo-Sk" frameborder="0" allowfullscreen></iframe><iframe width="560" height="315" src="https://www.youtube.com/embed/GTQnarzmTOc" frameborder="0" allowfullscreen></iframe>

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/09/2016 10:44 AMCopy HTML

Oh my, the Keynes fettish AGAIN?

Tdog

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/11/2016 4:39 AMCopy HTML

 The arsewipe just won't die!

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/13/2016 10:44 PMCopy HTML

      Brazil over the last two decades has actually had very strong growth though they still have a long ways to go. The Brazilian government has been leftist leaning, but has not thrown standard economics out the window. This tends to be a pretty sucessful formula. 

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/14/2016 8:11 AMCopy HTML

http://www.bbc.co.uk/sport/olympics/rio-2016/medals/countries

August 2016

http://www.bbc.co.uk/sport/olympics/rio-2016/medals/countries

August 2016

 Medal Table    By Country  
  By Sport  
 #    Country    
   
   
  Total  
          24     18     18     60       View medals by sport for United States    
          13     11     17     41       View medals by sport for China    
          10     13     7     30       View medals by sport for Great Britain & N. Ireland    
          8     5     3     16       View medals by sport for Germany    
          7     3     14     24       View medals by sport for Japan    
          6     9     8     23       View medals by sport for Russia    
          6     7     9     22       View medals by sport for Australia    
          6     7     5     18       View medals by sport for Italy    
          6     3     4     13       View medals by sport for South Korea    
          5     8     5     18       View medals by sport for France    
          5     3     3     11       View medals by sport for Hungary    
          3     2     3     8       View medals by sport for Netherlands    
          3     0     2     5       View medals by sport for Spain    
          2     6     0     8       View medals by sport for New Zealand    
          2     2     8     12       View medals by sport for Canada    
          2     2     3     7       View medals by sport for Kazakhstan    
          2     1     1     4       View medals by sport for Belgium    
          2     1     1     4       View medals by sport for Thailand    
          2     1     0     3       View medals by sport for Croatia    
          2     0     1     3       View medals by sport for Switzerland    
          2     0     0     2       View medals by sport for Iran    
          1     3     1     5       View medals by sport for Sweden    
          1     2     3     6       View medals by sport for Denmark    
          1     2     2     5       View medals by sport for North Korea    
          1     2     1     4       View medals by sport for Belarus    
          1     1     2     4       View medals by sport for Brazil    
          1     1     2     4       View medals by sport for Poland    
          1     1     2     4       View medals by sport for Romania    
          1     1     1     3       View medals by sport for Slovenia    
          1     1     0     2       View medals by sport for Colombia    
          1     1     0     2       View medals by sport for Slovakia    
          1     1     0     2       View medals by sport for Vietnam    
          1     0     4     5       View medals by sport for Czech Republic    
          1     0     2     3       View medals by sport for Chinese Taipei    
          1     0     2     3       View medals by sport for Ethiopia    
          1     0     1     2       View medals by sport for Greece    
          1     0     1     2       View medals by sport for Independent Olympic Athletes    
          1     0     1     2       View medals by sport for Jamaica    
          1     0     0     1       View medals by sport for Argentina    
          1     0     0     1       View medals by sport for Fiji    
          1     0     0     1       View medals by sport for Kosovo    
          1     0     0     1       View medals by sport for Puerto Rico    
          1     0     0     1       View medals by sport for Singapore    
          0     5     1     6       View medals by sport for South Africa    
          0     3     1     4       View medals by sport for Ukraine    
          0     2     0     2       View medals by sport for Azerbaijan    
          0     2     0     2       View medals by sport for Indonesia    
          0     2     0     2       View medals by sport for Kenya    
          0     1     2     3       View medals by sport for Cuba    
          0     1     2     3       View medals by sport for Lithuania    
          0     1     1     2       View medals by sport for Georgia    
          0     1     0     1       View medals by sport for Ireland    
          0     1     0     1       View medals by sport for Malaysia    
          0     1     0     1       View medals by sport for Mongolia    
          0     1     0     1       View medals by sport for Philippines    
          0     1     0     1       View medals by sport for Turkey    
          0     0     3     3       View medals by sport for Uzbekistan    
          0     0     2     2       View medals by sport for Egypt    
          0     0     2     2       View medals by sport for Israel    
          0     0     2     2       View medals by sport for Norway    
          0     0     1     1       View medals by sport for Estonia    
          0     0     1     1       View medals by sport for Kyrgyzstan    
          0     0     1     1       View medals by sport for Portugal    
          0     0     1     1       View medals by sport for Tunisia    
          0     0     1     1     

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/14/2016 7:30 PMCopy HTML

 When they put in their bid for the Olympics, their economy was in a much better place.  
Every city that hosts and builds over slums to make it happen, benefits long term from the improved facilities.  Short term agonies are rough going, but I wouldn't stop the Olympics over them.

Corporate sponsors would end the games, if they couldn't get cities to build the stadiums.  Tourists frequent the Olympic cities for many years after because of what they see during the games and what they learn, and what they want to experience.

We would never see an Olympics, or an Interstate, or a Natural wonder if Hayek was heard instead of Keynes at times when we are depressed.

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/14/2016 8:51 PMCopy HTML

Reply to Nickel (08/14/2016 10:30 AM)

When they put in their bid for the Olympics, their economy was in a much better place.
Yes?  So?  

Every
 city that hosts and builds over slums to make it happen, benefits long 
term from the improved facilities.  Short term agonies are rough going, 
but I wouldn't stop the Olympics over them.
Rio did this to themselves yet I find it unseemly to pretend displacing how many thousands, destroying their homes and casting them adrift, did not happen.

Corporate
 sponsors would end the games, if they couldn't get cities to build the 
stadiums.
What makes you say that?  Of course, everyone is used to governments picking up the tab for boondoggles but how high a price is legitimate for the olympics?
Olympics and their economic impact: Updated research roundup ...journalistsresource.org/.../economic-and-cultural-benefits-of-the-olympics-research-ro...
Aug 4, 2016 - Host cities invest deeply in the games — the Sochi Winter Olympics, for ..... However, the results indicate it had no long term impact on trade or ...

Economic Benefits Of Hosting Olympics Are Overstated - Business ...www.businessinsider.com/economic-benefits-of-hosting-olympics-20...
Business Insider
Oct 16, 2014 - Democratic nations are no longer buying the argument that hosting the ... to overestimate how much a one-time attraction like the Olympics will ...

Tourists frequent the Olympic cities for many years after 
because of what they see during the games and what they learn, and what 
they want to experience.
Rio hardly suffered from a lack of publicity.  It's one of the most popular tourist destinations in the world.

We would never see an 
Olympics, 
The modern olympics began in 1894... quite a while before keynesian lunacy.

or an Interstate,
Postal roads are specifically authorized by the constitution.  The modern version of postal roads is the interstate highway system.

or a Natural wonder
People were visiting 'natural wonders' long before the interstate highway system.

if Hayek was heard 
instead of Keynes at times when we are depressed.
If we were not following keynesian lunacy... no depressions, just recessions aka necessary market corrections.

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/15/2016 8:28 PMCopy HTML

http://riotimesonline.com/brazil-news/rio-real-estate/olympic-construction-transforms-public-transport-in-rio-de-janeiro/#

RIO
 DE JANEIRO, BRAZIL – One year ahead of the 2016 Olympic Games 
construction sites are a common sight in Rio de Janeiro as the city not 
only builds sporting facilities for the event, but transforms public 
transport. The impact on roadway traffic and transportation 
infrastructure, in the notoriously congested city, might well be one of 
the biggest legacies of the sports mega-event. - See more at: 
http://riotimesonline.com/brazil-news/rio-real-estate/olympic-construction-transforms-public-transport-in-rio-de-janeiro/#sthash.cLfkKoYA.dpuf

Olympic
 Construction Transforms Public Transport in Rio de Janeiro - See more 
at: 
http://riotimesonline.com/brazil-news/rio-real-estate/olympic-construction-transforms-public-transport-in-rio-de-janeiro/#sthash.cLfkKoYA.dpuf
RIO
 DE JANEIRO, BRAZIL – One year ahead of the 2016 Olympic Games 
construction sites are a common sight in Rio de Janeiro as the city not 
only builds sporting facilities for the event, but transforms public 
transport. The impact on roadway traffic and transportation 
infrastructure, in the notoriously congested city, might well be one of 
the biggest legacies of the sports mega-event. - See more at: 
http://riotimesonline.com/brazil-news/rio-real-estate/olympic-construction-transforms-public-transport-in-rio-de-janeiro/#sthash.cLfkKoYA.dpuf
RIO
 DE JANEIRO, BRAZIL – One year ahead of the 2016 Olympic Games 
construction sites are a common sight in Rio de Janeiro as the city not 
only builds sporting facilities for the event, but transforms public 
transport. The impact on roadway traffic and transportation 
infrastructure, in the notoriously congested city, might well be one of 
the biggest legacies of the sports mega-event. - See more at: 
http://riotimesonline.com/brazil-news/rio-real-estate/olympic-construction-transforms-public-transport-in-rio-de-janeiro/#sthash.cLfkKoYA.dpuf

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/16/2016 12:14 AMCopy HTML

It is time to have a permanent home for Olympics.   If needed one for the summer games and one for the winter games.  The Olympics are becoming another FIFA.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/16/2016 6:57 PMCopy HTML

Reply to nofencesfacing (08/15/2016 3:14 PM)

It is time to have a permanent home for Olympics.   If needed one for the summer games and one for the winter games. 

That's a good idea.

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/16/2016 10:21 PMCopy HTML

That's a good idea.

You will be glad to know that I did not come up with it.  

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/16/2016 10:49 PMCopy HTML

Will I?  Why?

I'm thinking maybe 2 perminent locations each... a summer games location in North America and one in Greece.  A winter locale in N. America and one in Eurasia.

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/17/2016 2:37 AMCopy HTML

 They should just take an island somewhere and declare it "Sports Island" and all the sports will just be there.

Like Jurassic Park, but with balls.  

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/21/2016 2:29 AMCopy HTML

 No.  No. No.
Part of what makes it an exciting event is the new location.  

Despite the appearance of measurable loss in dollars, there is the immeasurable gains, variables that make the Olympics worth hosting.

Displacing blight on a community is not a bad thing.  It's called Urban Renwal.  Better than setting fire to it, and while the old folks will miss the old haunts, dispersing the slum children can cut them a break.  When Aloha Stadium was built, most of the displaced children ended up in better schools.  Hauli  that I am I was offered a job in their old school

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/21/2016 2:50 AMCopy HTML

 Their old school wasn't nearly as bad as the reputation........of course.  They took their troubles with them.....made a guy I went to UH Manoa with quit.
Those bidding to host should develop a more minimalist approach instead of the extravagant plans which put them in the hole no matter how successful the events drawing money to the city.  The estimates they come up with are not reliable.  Don't think you can blame Keynes for that.


We bid to host a Junior Olympics, but it took four communities to come up with the required facilities......the quad-cities were a little too far apart for them and it seemed too complicated to have events across state lines......we hardly notice the distance or the state lines.......not many here cared, but I was excited.  We had a minimalist plan.....probably needed more extravagances to actually get the bid......LOL

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/21/2016 3:00 AMCopy HTML

 Whites are a minority in Hawaii and I never expected to be hired..... but because I couldn't speak pidgin, I would not be able to trap their students in lower paying jobs, I was offered the job.

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/21/2016 7:49 PMCopy HTML

Here's hoping it plays overseas;
http://www.bbc.co.uk/news/business-37120721
21 August 2016 

The My Shop series visits Casa Brasil in central London, which is enjoying a surge of customers thanks to the Rio Olympics.
This video is a part of a new series from the BBC Business Unit called My Shop. The series profiles independent shops that follow a distinctive business model.(video in link)

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/21/2016 7:51 PMCopy HTML

The final tally (subject to dope tests etc);
http://www.bbc.co.uk/sport/olympics/rio-2016/medals/countries
Country







Gold medalsSilver medalsBronze   medals
1Totals
United StatesUS             45                37                      38               120
2
Great Britain & N. IrelandGB   27                 23                      17                 
67
3
ChinaCHN                        26                   
18                       26                
70
4
RussiaRUS                       19               18                       19               56
5
GermanyGER                    17              10                      15                  42

View full medal table

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/25/2016 3:46 PMCopy HTML

Reply to Nickel (08/20/2016 5:29 PM)

Despite the appearance of measurable loss in dollars, there is the immeasurable gains, variables that make the Olympics worth hosting.
I remain unconvinced, I am so sorry to say.

Displacing blight on a community is not a bad thing.
It depends upon how it is done, I suggest.

It's called Urban Renwal.
Here, it's called eminent domain abuse but generally speaking those displaced are compensated in some fashion, however insufficient.  I wonder if that is what happened in Rio?  Or, after a year or two will we start hearing stories of gun point evictions, arrests and bull dozing?

Better than setting fire to it, and while the old folks will miss the old haunts, dispersing the slum children can cut them a break.  
Perhaps.

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/26/2016 4:23 PMCopy HTML

 Yes, well, you are a self proclaimed cynical bastard.....no convincing you that immeasurable values exist.
So sorry to say?  Hardly seems likely.......but I am comfortable with polite, especially when contemp is playing.

We have the same disconnect with FDR.  The magic of believing that as bad as everything is, something is being done.....even if it's wrong.....is a good perception and in politics, perception is reality, and that perceived reality motivates which benefits a lethargic population to act on its own.
It's a catalyst that lifts people just enough to think they can do something when they sunk to nothing can be done.

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/26/2016 5:52 PMCopy HTML

There is time and money restrains on the Olympics and this is especially true for second and third world counties.  This has been documented time and time again.  Western counties are no longer bidding for the Olympics. 
 
The counties who have been getting the Olympics cannot care for the displaced.  The poor are left to fend for themselves.  That is until the Olympics are started then they are jailed or hidden in other ways.
 
The rushed construction is so shoddy that after the Olympics are over the housing facilities decay into ghettos.  The overbuilt stadiums are hardly if ever used again.
 
The whole things end up being a drain for the host country.  Security and maintenance costs continue for years to come.  
 
After The Party: What happens when the Olympics leave townBoston May Refuse To Bid For The Olympics 
Olympic Games: Legacy or Money Pit?

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/26/2016 11:11 PMCopy HTML

 Do you realize that your links don't exactly support your opinion nff?   They offer positive advice based on example cities that wisely bid and built beneficial structures, as well as the pitfalls for those cities that didn't plan projects of lasting benefit.
Just because some cities fail, strap themselves with debt, doesn't mean the Olympics should be scrapped.  It means cities should spend wisely based on the needs of the city........when isn't that the case?  Barcelona, Los Angeles, Atlanta made it work....

Athens didn't, but they are incorrigible, not inclined toward austerity despite all of Europe's encouragement.

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/26/2016 11:21 PMCopy HTML

 Smaller events have brought quite a lot of money to our community, plus we enjoy the event.
One year, bad management killed one of our favorites, the Air Festival.  An idiot decided the main event should be free, and the board went along with her.  She ruined several organizations, and was never blamed.  The chamber of commerce recovered, but was off kilter for quite awhile.  Something about her was so persuasive........and yet deadly to who ever hired her....a mystery.

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/27/2016 12:12 AMCopy HTML

Reply to Nickel (08/26/2016 7:23 AM)

Yes, well, you are a self proclaimed cynical bastard.....no convincing you that immeasurable values exist.
Well that's not true.  I've talked about the concept, it goes by another name, before.  I'll try to dig it up for you sometime.

So sorry to say?  Hardly seems likely.......but I am comfortable with polite, especially when contemp is playing.
I assure you, I have nothing but the utmost respect for you, Nickel.  I'm sorry you feel otherwise.

We have the same disconnect with FDR.  The magic of believing that as bad as everything is, something is being done.....even if it's wrong.....is a good perception and in politics, perception is reality, and that perceived reality motivates which benefits a lethargic population to act on its own.
I don't believe in magic.  I don't believe in making things worse out of some notion that 'doing something' is automatically better than doing nothing.  In fact, I believe I can offer compelling argument that, 'doing something' out of that precise misconception is what created the great depression in the first place.

It's a catalyst that lifts people just enough to think they can do something when they sunk to nothing can be done.
No one reaches, 'nothing can be done', without the mighty beating them upon their heads and screaming it into their ears... which is exactly what the new deal did in practice if not in propaganda.

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/27/2016 9:13 PMCopy HTML

Reply to Nickel (08/26/2016 5:11 PM)

 Do you realize that your links don't exactly support your opinion nff?   They offer positive advice based on example cities that wisely bid and built beneficial structures, as well as the pitfalls for those cities that didn't plan projects of lasting benefit.

Just because some cities fail, strap themselves with debt, doesn't mean the Olympics should be scrapped.  It means cities should spend wisely based on the needs of the city........when isn't that the case?  Barcelona, Los Angeles, Atlanta made it work....

Athens didn't, but they are incorrigible, not inclined toward austerity despite all of Europe's encouragement.

You are right.  My point is the people in the poorer countries and people in the totalitarian are the ones who suffer from the Olympics.  Those seem to be the countries that are still bidding for an Olympics.
 
No Countries Want to Host the 2022 Olympics
 
Countries are dropping out because of the cost/greed of the International Olympic Committee.  Only Kazakhstan and China are left as contenders for the 2022 Winter Olympics.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/30/2016 5:25 PMCopy HTML

 nofencesfacing, I've always liked you, but now I love you, as I do all who can admit someone is right, up front.
Your point is well made.  Countries should drop out when conditions dictate no advantage, and tyranny meets another pitfall when conditions fail them.....a self correction for the country when people realize they can do better than their leaders....a good thing.....like letting the free market correct itself.   Some pain, but less in the long term.

What goes around, comes around.

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Re：Keynesianism on parade, Rio 2016

Date Posted：08/31/2016 5:25 AMCopy HTML

Reply to Nickel (08/26/2016 7:23 AM)

 Yes, well, you are a self proclaimed cynical bastard.....no convincing you that immeasurable values exist.

I promised to dig this up for you... and here it is.

WHERE IS THE Wealth of NATIONS? - World BankThe report is lengthy but insightful.  But, to sum it up, the nations of the western world economic models enjoy a great deal of 'intangible capital'.

"Intangible capital comprises 80 percent of the total wealth in high-income countries. It is close to zero, and often negative, in major oil exporters such as Nigeria, Algeria, and Venezuela."

So what is, 'intangible capital'?  

"By construction, the intangible capital variable captures all those assets that are unaccounted for in the estimates of produced and natural capital.

Intangible assets include the skills and know-how embodied in the labor force. The category also includes social capital, that is, the trust among people in a society and their ability to work together for a common purpose. The residual also accounts for all those governance elements that boost the productivity of labor. For example, if an economy has a very efficient judicial system, clear property rights, and an effective government, the effects will result in a higher total wealth and thus a higher intangible capital residual. The regression analysis in this chapter
shows that human capital and rule of law account for the majority of the variation in the residual. Investments in education, the functioning of the justice system, and policies aimed at attracting remittances are the most important means of increasing the intangible components of total wealth."

Come to the Dark Side. We have cookies. The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.” ― H.L. Mencken

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Re：Keynesianism on parade, Rio 2016

Date Posted：09/13/2016 9:53 PMCopy HTML

Wow! The paralympians have put the regular Olympians to shame. The first
 four runners home in the 1500 metres ran it in a time faster than the 
gold medal winner in the 1500 metres last month.


http://www.telegraph.co.uk/paralympic-sport/2016/09/13/rio-paralympics-2016-four-paralympians-run-1500m-faster-than-rio/

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Re：Keynesianism on parade, Rio 2016

Date Posted：09/19/2016 8:00 PMCopy HTML

PARALYMPICS 2016

I would have thought that the US would have done better in the freak show;
http://www.bbc.co.uk/sport/paralympics/rio-2016/medals/countries
Medal Table

By Country

By Sport

#

Country

Total

1

107

81

51

239

View medals by sport for China

2

64

39

44

147

View medals by sport for Great Britain & N. Ireland

3

41

37

39

117

View medals by sport for Ukraine

4

40

44

31

115

View medals by sport for United States

5

22

30

29

81

View medals by sport for Australia

6

18

25

14

57

View medals by sport for Germany

7

17

19

26

62

View medals by sport for Netherlands

8

14

29

29

72

View medals by sport for Brazil

9

10

14

15

39

View medals by sport for Italy

10

9

18

12

39

View medals by sport for Poland

11

9

14

8

31

View medals by sport for Spain

12

9

5

14

28

View medals by sport for France

13

9

5

7

21

View medals by sport for New Zealand

14

8

10

11

29

View medals by sport for Canada

15

8

9

7

24

View medals by sport for Iran

16

8

6

17

31

View medals by sport for Uzbekistan

17

8

2

2

12

View medals by sport for Nigeria

18

8

1

6

15

View medals by sport for Cuba

19

8

0

2

10

View medals by sport for Belarus

20

7

11

17

35

View medals by sport for South Korea

21

7

6

6

19

View medals by sport for Tunisia

22

7

6

4

17

View medals by sport for South Africa

23

6

6

6

18

View medals by sport for Thailand

24

5

4

4

13

View medals by sport for Greece

25

5

3

3

11

View medals by sport for Belgium

25

5

3

3

11

View medals by sport for Slovakia

27

4

5

7

16

View medals by sport for Algeria

28

4

4

3

11

View medals by sport for Ireland

29

4

2

9

15

View medals by sport for Mexico

30

3

5

4

12

View medals by sport for Egypt

31

3

2

4

9

View medals by sport for Serbia

32

3

2

3

8

View medals by sport for Norway

33

3

2

2

7

View medals by sport for Morocco

34

3

1

5

9

View medals by sport for Turkey

35

3

1

2

6

View medals by sport for Kenya

36

3

0

1

4

View medals by sport for Malaysia

37

2

5

10

17

View medals by sport for Colombia

38

2

4

1

7

View medals by sport for United Arab Emirates

39

2

3

0

5

View medals by sport for Iraq

40

2

2

2

6

View medals by sport for Hong Kong

41

2

2

1

5

View medals by sport for Croatia

41

2

2

1

5

View medals by sport for Switzerland

43

2

1

1

4

View medals by sport for India

44

2

1

0

3

View medals by sport for Lithuania

45

2

0

2

4

View medals by sport for Latvia

46

2

0

1

3

View medals by sport for Singapore

47

1

8

9

18

View medals by sport for Hungary

48

1

8

2

11

View medals by sport for Azerbaijan

49

1

4

5

10

View medals by sport for Sweden

50

1

4

4

9

View medals by sport for Austria

51

1

2

4

7

View medals by sport for Czech Republic

51

1

2

4

7

View medals by sport for Denmark

53

1

2

2

5

View medals by sport for Namibia

54

1

1

3

5

View medals by sport for Argentina

55

1

1

2

4

View medals by sport for Vietnam

56

1

1

1

3

View medals by sport for Finland

56

1

1

1

3

View medals by sport for Trinidad and Tobago

58

1

1

0

2

View medals by sport for Kazakhstan

58

1

1

0

2

View medals by sport for Slovenia

60

1

0

0

1

View medals by sport for Bahrain

60

1

0

0

1

View medals by sport for Bulgaria

60

1

0

0

1

View medals by sport for Georgia

60

1

0

0

1

View medals by sport for Kuwait

64

0

10

14

24

View medals by sport for Japan

65

0

3

3

6

View medals by sport for Venezuela

66

0

2

1

3

View medals by sport for Jordan

67

0

2

0

2

View medals by sport for Qatar

68

0

1

1

2

View medals by sport for Chinese Taipei

69

0

1

0

1

View medals by sport for Bosnia and Hercegovina

69

0

1

0

1

View medals by sport for Ethiopia

69

0

1

0

1

View medals by sport for Ivory Coast

69

0

1

0

1

View medals by sport for Uganda

73

0

0

4

4

View medals by sport for Portugal

74

0

0

3

3

View medals by sport for Israel

75

0

0

2

2

View medals by sport for Mongolia

76

0

0

1

1

View medals by sport for Cape Verde

76

0

0

1

1

View medals by sport for Indonesia

76

0

0

1

1

View medals by sport for Mozambique

76

0

0

1

1

View medals by sport for Pakistan

76

0

0

1

1

View medals by sport for Philippines

76

0

0

1

1

View medals by sport for Romania

76

0

0

1

1

View medals by sport for Saudi Arabia

76

0

0

1

1

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Re：Keynesianism on parade, Rio 2016

Date Posted：07/22/2021 5:23 PMCopy HTML

Bump;

The Tokyo Olympic Games are upon us. They look and feel different to any other Games of times gone by, but they are here. At last.

https://www.bbc.co.uk/sport/olympics/57865245

..........With an unexpected additional year of preparation under their belts, more than 11,300 athletes from 207 countries will compete over the next couple of weeks, all vying to get their hands on the medal they've worked so long for.
When the Games were postponed in March 2020, organisers said the Olympic flame "could become the light at the end of the tunnel". With the Covid-19 pandemic still raging worldwide, that metaphorical tunnel is still being traversed, but Friday's opening ceremony offers a glimmer of that light..........>