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The stakes involved in Washington policy debates are often so high-- whether we send our young men and women to war; whether we allow stem cell research to go forward-- that even small differences in perspective are magnified. The demands of party loyalty, the imperative of campaigns, and the amplification of conflict by the media all contribute to an atmosphere of suspicion. Moreover, most people who serve in Washington have been trained either as lawyers or as political operatives-- professions that tend to place a premium on winning arguments rather than solving problems. I can see how, after a certain amount of time in the capital, it becomes tempting to assume that those who disagree with you have fundamentally different values-- indeed, that they are motivated by bad faith, and perhaps are bad people.

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These negative-sum games of coercion and extortion lead to highly inefficient outcomes, and they can only be avoided by carefully crafting the ex ante rules to avoid such coercion and extortion. These coercive threats that make negative-sum games possible, and that decrease the payoffs of positive-sum games, cannot be neatly distinguished in practice from innocent externalities: any act or omission of one party that harms another, i.e. any externality, doubles as a threat, whether a tiny threat or a large threat, from which an extortion premium, its size depending on the size of the threat, can be extracted. In order to try to distinguish coercion, and the extortion it gives rise to, from an "innocent" externality that can be cured by efficient bargaining, there are ways to exclude some of these extreme possibilities from the prior allocation of rights. And indeed criminal and tort law do this: they distinguish purposeful behavior from negligent, and negligent from the mere unfortunate accident. But any such ex ante distiction contradicts the claim that the Coase Theorem applies to any prior allocation of rights. Voluntary bargaining cannnot give rise to tort and criminal law. Quite the opposite is true: at least a basic tort law is necessary to make voluntary bargaining possible. Tort law (and the associated property law which defines boundaries for the tort of trespass) is logically prior to contract law: good contracts depend on good tort and property law. Without a good tort law already in place, nobody, including the "protection firms" posited by anarcho-capitalism, can engage in the voluntary bargains that are necessary for efficient outcomes. This is not to claim that the polar opposite of anarcho-capitalism must be true, i.e. that "the government" along the lines we are familiar with is necessary. Instead, a system of political property rights that is unbundled and decentralized is possible, and may give rise to many of the benefits (e.g. peaceful competition between jurisdictions) promised by anarcho-capitalism. But political property rights are not based on a Rothbardian assumption of voluntary agreement -- instead, in these systems the procedural law of political property rights, as well as much of substantive property rights and tort law, is prior to contract law, and their origin necessarily involves some degree of coercion. Political and legal systems have not, do not, and cannot originate solely from voluntary contract. Both traditional "social contract" justifications of the state and the Rothbardian idea that contracts can substitute for the state are false: in all cases coercion is involved, both at the origin and in the ongoing practice of legal procedure. In both cases the term "contract" is used, implying voluntary agreement, when the term "treaty", a kind of agreement often forced by coercion, would far more accurately describe the reality. The real task for libertarians and other defenders of sound economics and law is not to try to devise law from purely voluntary origins, an impossible task, but to make sure the ex ante laws make voluntary bargaining possible and discourage coercion and extortion (by any party, including political property rights holders or governments) as much as possible.

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The Leckwiths were excited about the Beveridge Report, a government paper that had become a bestseller. “Commissioned under a Conservative prime minister and written by a Liberal economist,” said Bernie. “Yet it proposes what the Labour Party has always wanted! You know you’re winning, in politics, when your opponents steal your ideas.” Ethel said: “The idea is that everyone of working age should pay a weekly insurance premium, then get benefits when they are sick, unemployed, retired, or widowed.” “A simple proposal, but it will transform our country,” Bernie said enthusiastically. “Cradle to grave, no one will ever be destitute again.” Daisy said: “Has the government accepted it?” “No,” said Ethel. “Clem Attlee pressed Churchill very hard, but Churchill won’t endorse the report. The Treasury thinks it will cost too much.” Bernie said: “We’ll have to win an election before we can implement it.

When you come down to it, alignment is about helping people understand what you want them to do. Most contributors will be motivated to ladder up to the top-line OKRs—assuming they know where to set the ladder. As our team got larger and more layered, we confronted new issues. One product manager was working on Premium, the enhanced subscription version of our app. Another focused on our API platform, to enable third parties like Fitbit to connect to MyFitnessPal and write data to it or applications on top of it. The third addressed our core login experience. All three had individual OKRs for what they hoped to accomplish—so far, so good. The problem was our shared engineering team, which got caught in the middle. The engineers weren’t aligned with the product managers’ objectives. They had their own infrastructure OKRs, to keep the plumbing going and the lights on. We assumed they could do it all—a big mistake. They got confused about what they should be working on, which could change without notice. (Sometimes it boiled down to which product manager yelled loudest.) As the engineers switched between projects from week to week, their efficiency dragged.

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By combining software with another, more readily monetized product — services, in this case — Amazon is able to efficiently extract profit from a growing, volume market. What’s more impressive, however, is that because Amazon is building primarily from either free software (in the economic sense) or software it developed internally, it is paying out minimal premiums to third parties for the services it offers. Which means that not only is AWS a volume business, it may be a high-margin business at the same time. Amazon does not break out its AWS revenues, so we’re forced to rely on estimates, but UBS analysts Brian Fitzgerald and Brian Pitz projected in 2010 that AWS’s margins would grow from 47% in 2006 to 53% in 2014. Last year, Andreas Gauger, the chief marketing officer for Amazon competitor ProfitBricks, estimated Amazon’s margins were better than 80%.

And if all others accepted the lie which the Party imposed—if all records told the same tale—then the lie passed into history and became truth.

Manifestly, a dynastic party puts personality and charisma at a premium and policy and programme at a discount. Ideology in such circumstances is reduced to populist slogans and vacuous shibboleths. Some articles in this collection are devoted to exposing the true nature of the dynastic beast and the pitiable obsequiousness of its followers. Absence of ideology and the cult of personality entails that the adherents of a dynastic party are not wedded to it on a matter of principle or precept. A dynastic party’s members are attracted by the opportunity of accumulating largesse that it affords them. Its regional satraps are leaders wedded to the patronage system. Public resources are thus allotted not on rational transparent criteria, but to crony capitalists. Auctions are the exceptions, and arbitrary exercise of discretion the rule. The economic advantage of the patronage system is shared between the ruler and the privileged class of people. This system, it is axiomatic, is inherently corrupt but is so entrenched that what objectively is tantamount to rampant corruption, appears to the party faithful to be a legitimate mode of governance.

Sec. Particulars Amount 80C Tax saving investments1 Maximum up to Rs. 1,50,000 (from FY 2014-15) 80D Medical insurance premium-self, family Individual: Rs. 15,000 Senior Citizen: Rs. 20,000 Preventive Health Check-up Rs. 5,000 80E Interest on Loan for Higher Education Interest amount (8 years) 80EE Deduction of Interest of Housing Loan2 Up to Rs.1,00,000 total 80G Charitable Donation 100%/ 50% of donation or 10% of adjusted total income, whichever is less 80GGC Donation to political parties Any sum contributed (Other than Cash) 80TTA Interest on savings account Rs. 10,000 1              Tax saving investments includes life insurance premium including ULIPs, PPF, 5 year tax saving FD, tuition fees, repayment of housing loan, mutual fund (ELSS) (Sec. 80CCB), NSC, employee provident fund, pension fund (Sec. 80CCC) or pension scheme (Sec. 80CCD), etc. NRIs are not allowed to invest in certain investments, such as PPF, NSC, 5 year bank FD, etc. 2              Only to the first time buyer of a self-occupied residential flat costing less than Rs. 40 lakhs and loan amount of less than 25 lakhs sanctioned in financial year 2013-14 Clubbing of other’s income Generally, the taxpayer is taxed on his own income. However, in certain cases, he may have to pay tax on another person’s income.  Taxpayers in the higher tax bracket (e.g. 30%) may divert some portion

We Boys and Men need to know how to Love. Though It may sometimes hurt, we need to persevere and party it out.

So why does American health care cost so much? The main reason is that the person receiving the service is not the one paying for the service. Imagine if you could go to Safeway or Giant, fill your cart with food, and then have someone else pay for it. Obviously you would get all kinds of stuff you don’t really need. Obviously the food chain would charge whatever it felt like, and you wouldn’t care, because you would not be the one paying. Now imagine further that the third party paying for the food was itself relatively indifferent to what it was charged. It raised its money through premiums paid for by millions of customers, and it could simply pass the cost to those customers in the form of higher premiums. This would be a scenario virtually set up to ensure runaway food costs. We don’t have it for food, but we do have it for health care.

This rip-off relied on a series of blatant lies. “If you like your health care plan, you can keep your plan.” “If you like your doctor, you can keep your doctor.” “The average family will save more than $2,400 per year.” “Health care costs will decline.” “Health care premiums will go down.” “Everyone in this country will now have health insurance.” Even though Obama kept saying these things, none of them was true. These statements were simply part of the con man’s “pitch.

It is my opinion that though croupiers seem such ordinary, humdrum officials—men who care nothing whether the bank wins or loses—they are, in reality, anything but indifferent to the bank's losing, and are given instructions to attract players, and to keep a watch over the bank's interests; as also, that for such services, these officials are awarded prizes and premiums. At all events, the croupiers of Roulettenberg seemed to look upon the Grandmother as their lawful prey—whereafter there befell what our party had foretold.

The women of the Upper East Side, Dallas, Palm Beach, and even Silicon Valley all felt just a bit better about their choice in party planner knowing that they could tell the ladies at SoulCycle or Pilates that yes, the wedding is overwhelming, but at least they have that fabulous girl from Good Morning, Later helping them out, so things are under control. Those kinds of bragging rights carried a premium. In the aftermath of the Spice It Up debacle, Olga realized that she’d allowed herself to become distracted from the true American dream—accumulating money—by its phantom cousin, accumulating fame. She would never make that mistake again.

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