Capitalist Cuba

File this entry under Paradoxes of Cuban Socialism. Why isn’t access to the Internet free in Socialist Cuba? Via the Associated Press (emphasis by us):

HAVANA (Sep. 21) — The Cuban government says it will make five miles of Havana’s iconic seafront boulevard, the Malecon, into the largest WiFi hotspot [on the Island] … State media said Wednesday that WiFi will be installed along the most popular stretch of the Malecon by the end of the year … Since last year, the government has installed dozens of WiFi spots in public areas, charging $2 an hour

Via Gemma and Craig (Two Scots Abroad), you can find more details regarding Cuba’s restrictive and crony-capitalist Internet policies here: “To gain access to WiFi in Cuba, purchase a card from a ETECSA telecommunications centre or a hotel which has WiFi accessibility. The card should cost 4.50 CUC / $4.50 / £2.93 and gives you one hour of online internet access in Cuba.” Lastly, while we’re on the subject of paradoxes, why doesn’t Fidel have an endorsement deal with Adidas? Or does he?

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I’m a crony capitalist now …

Posted in Bayesian Reasoning, Economics, Paradoxes, Politics, Questions Rarely Asked | Leave a comment

Trump, mercantilist

Lately, Donald Trump has been accusing Hillary Clinton of being “stuck in the past.” This assertion is highly ironic, coming from a mercantilist! Via Tyler Cowen, quoting Donald Trump’s chief economic adviser Peter Navarro, here is the essence of Mr Trump’s economic policy (in 17 words):

Trump proposes eliminating America’s $500 billion trade deficit through a combination of increased exports and reduced imports.

In other words, Mssrs Trump and Navarro are mercantilists. Someone needs to remind them that we’re in the 21st Century now and that mercantilism was soundly discredited by Adam Smith in 1776. Although Professor Navarro received his PhD in economics from Harvard, while Trump has a degree in finance from Wharton, they must have a missed a few of their classes. (FYI, here is a profile of Peter Navarro.)
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Credit: T. J. Joseph

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Our hearts are broken …

Image result for jose fernandez baseball card

Image result for jose fernandez baseball card back

Read this touching tribute by Ben Lindbergh.

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Happy Birthday: F Scott Fitzgerald

Rest in Peace

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Visualization of Jupiter’s massive size

Credit: Nancy Kelly Allen & Lisa Fields (hat tip: Cliff Pickover)

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Is the Mona Lisa overrated?

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If elected, Trump could be impeached

Law professor Chistopher Lewis Peterson makes a persuasive case in this paper why Mr Trump could be immediately impeached if he were to win the election. In two words: Trump University. Here is the full abstract of Prof Peterson’s paper (hat tip Paul Caron):

In the final weeks of the 2016 Presidential campaign Donald J. Trump faces three lawsuits accusing him of fraud and racketeering. These ongoing cases focus on a series of wealth seminars called “Trump University” which collected over $40 million from consumers seeking to learn Trump’s real estate investing strategies. Although these consumer protection cases are civil proceedings, the underlying legal elements in several counts that plaintiffs seek to prove run parallel to the legal elements of serious crimes under both state and federal law. This essay provides a legal analysis of whether Trump’s alleged behavior would, if proven, rise to the level of impeachable offenses under the presidential impeachment clause of the United States Constitution. This essay begins with a summary of the evidence assembled in the three pending Trump University civil lawsuits. Next, it describes the legal claims involved in each matter. Then, this essay summarizes the applicable law of presidential impeachment under the United States Constitution and analyzes whether Trump’s actions in connection with Trump University are impeachable offenses. Finally, I offer concluding thoughts, considering in particular the policy implications of a major presidential campaign with simultaneously pending legal complaints of fraud and racketeering.

Can you give people their money back?

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