In economics, religion, and politics, the moral path is freedom.

How to shrink the economy – Lessons from immoral policies during the Great Depression

Hunger sculpture at FRR Memorial in Washington DC. How much earlier could hunger have ended with different policies? Photo courtesy of DollarPhotoClub.com.

Hunger sculpture at FDR Memorial in Washington DC. How much longer did wide-spread hunger last due to unintended consequences of federal policies? Photo courtesy of DollarPhotoClub.com.

Do we want to hurt poor people or help them?

It is always worth explaining yet again that specific federal policies played a massive role in helping cause the Great Depression, deepening the collapse, and extending the pain.

For a brief explanation, check out Arthur Laffer at Investors Business Daily on July 17:  Tax And Tariffs Hikes Crushed 1930s America –

Trade restrictions

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By Jim Ulvog, ago

Big increases in federal spending and huge deficits started with Pres Hoover, not FDR

I’ve read that President Hoover was just as much an activist, interventionist president as FDR. Popular legend holds that it was FDR that opened up federal spending and started the activism.

Haven’t done my own research until today. Check out page 21 of the 2013 federal budget, found here, to see the info for yourself. That is the 25th page of the PDF. Table 1.1 lists federal receipts, outlays and surplus/deficit by year from 1901 through the 2017 estimate.

Hoover dramatically increased federal spending and started the big deficit splurge well before FDR has a chance to get his New Deal spending plans in front of Congress.

Check out the following data, which is for fiscal years ending June 30. That means the 1929 budget went into effect on 7/1/28, well before the election. Thus, the 1930 budget is the first that we can attribute to Hoover. The 1931 budget is essentially the first that was drafted and approved in light of the developing depression.  The 1934 budget is the first that belongs to FDR.

Amounts in millions of dollars:

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By Jim Ulvog, ago

Capitalism undermines feudalism and offers economic freedom to Dalits

Capitalism does a better job providing freedom and equality than any other system. It is a far better option than feudalism.

Capitalism has been allowed to flourish in India since 1991. The results have been to release large numbers of Dalits from bonded labor. Previously those individuals were restricted to the most dirty, dangerous jobs.

Check out the results in this article by Swaminathan S. Ankelsaria Aiyar, writing at Cato Institute: How Capitalism Is Undermining the Indian Caste System.

(Cross-posted from my other blog, Outrun Change.)

Article is reprinted in full under a Creative Commons license granted by the author: (more…)

By Jim Ulvog, ago

I celebrate this Independence Day by using my freedom of speech and freedom of religion

Thought about putting on my blogs some cool patriotic visuals to celebrate the 239th anniversary of the greatest country in the world that has provided more political, economic, and religious freedom to more people than any country anywhere anytime. There are lots of nice looking things available on the ‘net.

Also thought about pulling up some photos of flags I’ve taken over the years and creating a visual celebration.

I decided to do something completely different.

Of the large number of freedoms that we humans have because we exist, which are also recognized by the Declaration of Independence and Constitution, I particularly cherish freedom of speech and freedom of religion.

So yesterday (which was the federal holiday), today (the actual anniversary), and tomorrow I exercise those freedoms.

(Cross-post from my other blog, Outrun Change.)

Freedom of speech

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By Jim Ulvog, ago

More on who owns the fruit of your labors – raisin edition

The Wall Street Journal editorial page has a few more comments on the Supreme Court ruling that when the Department of Agriculture ‘takes’ a portion of the crop from raisin farmers, the farmers have to be paid for the ‘taking’: Raisin Owners in the Sun. Previous discussion of the ruling is here.

Editorial points out the law authorizing the feds to take whatever amount of agricultural crops they want and pay whatever little amount they want was passed in 1937, which is 78 years ago. This case centers on crops that were seized in 2003 and 2004. The later of those two attempted seizures was 11 years ago.

That makes eight decades for the Supreme Court to get around to reading the Constitution and just over a decade for this case to work its way through the legal system.

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By Jim Ulvog, ago

About those raisins – one part of New Deal destruction reversed by Supreme Court after about eight decades

Did you know raisin growers have to turn over a huge portion of their crop to the federal government? Growers get paid whatever is left over after the feds sell at a discount, giveaway or throw in the trash the reasons they collected.

In one year, a particular farmer got back less than what cost him to raise the raisins. In the following year he got zero. Zip.

Well, the good news is that as of today, that one specific New Deal program comes to an end. At least for raisins.

(cross-post from my other blog)

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By Jim Ulvog, ago

Which disgustingly rich “robber baron” single-handedly saved all the whales?

Eventually I want to revisit the reputation of those horrid men who built the American economy at the end of the 1900s. They gave us massive breakthroughs in economic development.

Until I can write some extended articles, I’ll accumulate tidbits as I go.

Got to thinking about this when Bruce Oksol of Million Dollar Way pointed out

…that Rockefeller and Standard Oil single-handedly saved the whales from extinction

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By Jim Ulvog, ago