Lives and Property Nov. 26, 2014 Ferguson police wanted to assure us that, above all, lives and property would be protected. Lives I can see, but mentioning danger to property in the same breath as danger to lives reveals a deep misunderstanding of property, of how capitalism, and social capitalism function in both America and Canada. In a terribly real sense there is no danger to property, the idea that property has the kind of value such that it can be in danger, like lives really can be, shows a failure of public philosophy. Were getting it wrong about property, about stuff. You have to be objective, turn on your mental searchlight, turn up that mental light to ten thousand watts, turn it on so hot that it tears the skin, off your mental bllnklers. Clue number one: As economists never fail to mention (I heard them, didnt you?) natural disasters causing loss of property drive the economy up! Yes. Floods, quakes, hurricanes and all the other disasters are good for the economy. When one building burns down ten capitalists rush in. They fight for the land, for the contract to build, for the employment. Ah you say, suppose it was an apartment building, where are these people to go? OK, Right, where? People really do matter. They can be put in danger, they do have to be helped. But the workers who will clean up the mess, the firemen, the excavators, the cement companies, the building trades, the financiers, the government regulators, inspectors, all these and hundreds more categories of the same - the cement suppliers, the pop companies - on and on - all these will benefit, delightedly. But this is not what TV, Facebook, the Internet - or the rioters - care to understand. The TV people are ignorant, deluded, confused, or venal. Ill let you judge. But for sure those burning buildings are no disaster for property, for financial interests, for construction companies, security agencies The burning buildings are the torches lighting up a financial opportunity. Each light is the dawn of a new enterprise, of new labour, new salaries. The destruction of property may be a crime but its a boon to even the social capitalist types (Canadians). People with money watch the rioters making their lovely light show with quiet smiles, they make notes and begin thinking of how to grasp the moment of the fiery flicker. The others, they cover their mouths with horror, squint their eyes in anger, tense their weak stomach in despair. Property losses are huge! Ferguson will take a long time to recover. Rubbish. Get an education and tear the skin off your eyes. Were not talking Quantum Mechanics here. I know, I know, you want to say Well, what if everyone went around torching buildings? Would that be good for the economy? No it wouldnt but America has never faced general lunacy, universal idiocy. People dont do much of that, generally - and not because it is illegal, its because they dont get a kick out of it. To the average person its just a shame to see a good building burn, all those pop bottles melting and squirting, the fur coats sizzling. Besides, it all smells horrible. Mind you they may well care about the tenants, and quite appropriately. General philosophical point: never test a proposed course of action by asking What if everyone did it? Its not relevant. And never test a material disaster by the cost of replacing whats lost. The cost is recovered with interest. Resilience is one of the virtues of Capitalism, even Social Capitalism. What about the building owner? Well, she goes bankrupt or collects the insurance and it just starts again. Or someone jumps in to do it for her. We are an anthill of endless available skills and hugely, hugely willing effort. Oh, and Communism isnt like that. Ah, common ignorance. Heres another lovely one. Did you know that banks are allowed to lend many times more money than is deposited with them? Good thing too ... but common sense (ignorance) would suggest that this is a disaster in the making. Yet people in Venice, Genoa and thereabouts started the fine practice long ago and it was fun and it made them wealthy. You just print promissory notes, they said, and call it money, then you lend it to Florence. She sends it back with interest. Bingo. Sorry, getting ahead of myself. Ill do that one another time when the horror of inflation starts up again. But anyhow, Ferguson should worry about its people, not its real estate.
Posted on: Thu, 27 Nov 2014 02:06:44 +0000
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