From the Summit of the Moral High Ground

Historical Archive This article is preserved as part of the historical record of this blog. It reflects the author's views at the time of publication. The content has not been substantively altered, although the HTML, accessibility and formatting have been updated to meet modern web standards. Amid the din of economic nonsense being bandied about since 2008, there has been the persistent refrain that the States should be run more like a business. If only more business people were in charge to wield their business acumen, we would have this country in shape in no time. But is that really a good solution? Businesses seek primarily to increase their revenues and profits. Government revenue depends upon taxation. Government accumulates tax money by collecting it from the productive earnings of Islanders through its statutory powers. At the time of writing, the Government of Jersey collected roughly £600 million annually. I argued that increasing government revenue was not t...

Historical Archive This article is preserved as part of the historical record of this blog. It reflects the author's views at the time of publication. The content has not been substantively altered, although the HTML, accessibility and formatting have been updated to meet modern web standards. We were told Jersey would be saved from economic catastrophe if the government straightened the Avenue. The first stimulus worked, apparently, and all we needed to bring back prosperity was more government stimulus. Stimulus might appear to work for some people for a short time. For a while they could pretend to be engaged in productive activities that would help the economy. Employment might temporarily rise, but these were not long-term jobs, the capital spent did not remain in Jersey, nor did the wages of those employed. The government is a terrible venture capitalist. "Biggest targeted improvement in taxation for families with young children the island has ever had...

Twenty Dollar Gold Coin (1 troy ounce fine gold) I was looking at my $20 dollar gold coin the other day. It is amazing how little it has changed since it was minted in 1887, the greatest change being the value of it which has ranged between $1,550 and $1,900 so far this year, which since it was worth $20 until 1933, then $35 until 1971, is a sign that the good times ended a long time ago. But the truth is that if the coin has not changed, if it is the constant, then what has changed? The answer has to be the value of the dollar. Inflation is a hidden tax and, like all taxes, is disproportionately levied on the 'poor'. By 'poor' I don't really mean the poor, who on a global scale are those who earn less than $800 per year; they have nothing anyway, so they have nothing to lose. In fact everyone who lives in Jersey is rich; everyone has an income of at least $7,500 per year. That places them in the top 20% of the world...

The welfare state, as defined in textbooks, is a form of government where the state ensures the economic and social well-being of its citizens, based on the principle of public responsibility for those unable to secure a decent standard of living independently. While this concept encompasses various economic and social arrangements, critiques suggest it fosters dependence that aligns with governmental goals of social control. This dependence increases as higher taxation funds more generous social programs, ensnaring more citizens in a cycle of benefit reliance. This dynamic creates a tacit agreement between voters and politicians: politicians promise support and voters absolve themselves of personal responsibility, preferring leaders who pledge, "Trust me, I will look after you." Critics warn this collective complacency mirrors the behaviour of a herd led unknowingly to unfavourable outcomes. Key concepts contextualising this discussion include: Social Welfare: ...