The Informationist, a blog written by Bruce Abramson

A (Very) Personal Note

My father died Friday night.

Suddenly.  Unexpectedly.  Without any warning. 

An athletic, vibrant man just shy of his 73^rd birthday, blessed with a clean medical report and no history of illness, he went from perfect health to dead in under five minutes.  He and my mother had just finished their Shabbat meal and cleared the table.  He sat down to study.  Something in his heart exploded.  He was dead before he hit the floor.

What Government Should be Doing in the Markets

Cross-posted at Brietbart.com's BigGovernment

It’s hardly a secret that the 2012 election is shaping up as a contest between free markets and big government.  And while the choice seems clear in the current political environment, it’s important to recall that government does play a critical role in the development and maintenance of functioning markets.  Yet, as Tea Partiers, Occupiers, and Ron Paul acolytes all note, government has both abdicated that critical role and inserted itself where it does not belong.

If markets were magical places that flourished whenever government disappeared, Somalia would be the world’s leading economy.  Markets are sophisticated mechanisms that enable informed parties to exchange resources, voluntarily, to mutual benefit.  There’s a lot packed into that sentence.  For markets to work, participants must trust the system.  They must believe that they have—or least can access—the information they need to make informed decisions.  They must feel free from coercion—both explicit coercion and unacceptable take-it-or-leave-it offers.  They must trust the inherent fairness of the system, and they must believe that it is possible to enforce the rules of the marketplace by sanctioning cheaters.  The closer an actual market comes to meeting these needs, the better it will function.  The further a market drifts from these goals, the more likely it is to fail.  It is thus absolutely critical that someone—presumably the government—serve as the market referee and the guarantor of market enforcement.

First and foremost, market participants must believe that courts will honor contracts and property rights fairly, dispassionately, and smoothly.  Contracts allow strangers to exchange promises; property allows people to focus on matters in front of them without worrying about possessions that may be out of sight.  In the absence of enforceable contracts and property rights, people could never travel far from home, leverage their assets, or exchange current payment or performance for a promise of future delivery with anyone unfamiliar.  In short, a society that distrusts its courts cannot progress beyond a tribal or a village economy—even if it employs tribal or village markets.

 

In Praise of the Republican Field

Cross-posted with Breitbart.com's BigGovernment

I’ve grown weary reading about the disappointing nature of the Republican field for President.  So allow me to take a contrarian view: We have a solid field of candidates that seems to be leading to an exciting choice.

Stopping Online Piracy - One Way or Another

Cross-posted with breitbart.com's BigGovernment

The Stop Online Piracy Act (SOPA), currently the subject of hearings in the House Judiciary Committee, has generated interest far beyond the community of copyright lawyers.

To its proponents, SOPA is a critical addition to copyright law, necessary to help creative Americans protect their legitimate property rights from foreign attackers, and thus to preserve the numerous American jobs in our world-class creative industries.

To its opponents, SOPA is an unprecedented attack on civil liberties that threatens to destroy free speech, the Internet, and the thriving American technology sector—not to mention the many American jobs that it creates.

Who is right?  It turns out that they both are: SOPA will help copyright holders protect the rights that copyright law grants them by suppressing free speech and impeding the functioning of the Internet, with predictable consequences on American jobs.

This result is hardly an anomaly.

Burning Man: The Ultimate Celebration of Capitalism

Cross-posted at Breitbart.com's BigGovernment

Burning Man has entered the mainstream.  Not only did the event sell out for the first time in its history, but the Wall Street Journal and New York Times both gave it prominent coverage.

Obama Smarts vs. American Common Sense

Is Obama Smart?  It’s a question that more and more people are asking.  His devoted fans like to note that he made it through Columbia and Harvard—supposedly a stark contrast to Rick Perry’s less-than-stellar transcript from Texas A&M, though Obama’s refusal to release his own transcripts does blunt the comparison.

The Dead Villain Test: Separating Cause From Effect In The Islamic World

Cross-posted at breitbart.com's BigPeace

Osama bin Laden is dead, and the world is a better place for it.  Moammar Qaddafi may soon follow.  His departure, too, will leave the world a better place.  If all goes well, 2011 will also witness the demise of Bashar, heir to the Asad dynasty.  No one with a shred of decency will shed a tear.  The world will just keep getting better, one dead villain at a time.

These three men have brought untold misery, pain, suffering, and death to tens of millions of people—the overwhelming majority of them Muslims, though their Western victims number comfortably in the thousands.  With their dispatch, the Islamic world will exact its greatest measure of justice since (at least) the Iraqi execution of Saddam Hussein nearly five years ago.

What do Tech Investors Want?

Cross-posted at breitbart.com's BigGovernment

Last week, Google announced its plans to acquire Motorola Mobility, effecting a vertical integration from the Android operating system into hardware.  Investors responded by shaving roughly 13% off Google’s value—roughly twice as much as the NASDAQ lost and three times as much as the Dow.

A few days later, HP announced its plans to shed its PC division and acquire a software company.  The combined effect will be a shift from hardware—long HP’s mainstay—towards software.  Investors responded by knocking close to 20% from its value in a single day.

Google and Motorola: Concentrating Attention on Concentrated Power

Cross-posted with breitbart.com's BigGovernment

Google is one of the worlds most intriguing companies.  From its humble beginnings as a search engine company, Google has leveraged its mastery of the elusive formula for monetizing web traffic into a force capable of tangling with China—making it considerably stronger than our own State Department by some measures.  Its recent announcement that it plans to acquire Motorola Mobile makes it heir to a grand tradition of American manufacturing—not to mention possessor of a valuable trove of intellectual property, and a sudden direct competitor to stylish hardware king, Apple.

Along the way, Google has managed to wander into numerous areas of public policy, including privacy, data security, and telecommunications regulation.  It has attracted antitrust scrutiny, patent challenges, and copyright suits—along with the standard collection of business litigation.  It has become a significant contributor to election campaigns and an active bidder for government IT contracts.  Above all, Google has riveted the attention of both devoted fans and committed opponents.

What does it all mean?  How can we make sense of such a company?  And how can the answers to these questions inform contemporary political debate?

Where Do The U.S., EU, And UN Encourage Restrictive Housing Covenants?

Cross-posted at breitbart.com's BigPeace

Quick.  Look at a map of the world and put an “X” through all the places that should be off-limits to Black residents.  Great.  Now put an “X” through all the places from which we should ban Muslims.  Then, just for good measure, “X” out all the places from which we should prohibit Chinese, Latinos, and gays.  Now look up.

Got any “Xs” on your map?  I hope not, because the exercise is hugely offensive.  Only a hard-core racist or homophobe would base housing restrictions on ethnic origin, religious affiliation, or sexual orientation.  The elimination of racial restrictions in housing was among the first, and most important, victories of the civil rights movement in the U.S., and few today would defend apartheid.  In fact, we have come so far from the days that racial covenants were standard clauses in real estate contracts that the mere suggestion of such an exercise should generate widespread revulsion.

But, let’s try one more, just for laughs.  Look back down at your map and put an “X” through all the places that should be off-limits to Jewish residents.  Got any “Xs” on your map now?