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Featured Article filed under Independent Business, The Public Good | Written by David Morris | No Comments | Updated on Jul 18, 2015

Greece, The Troika and Maggie Thatcher

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/greece-the-troika-and-maggie-thatcher/

In its policies toward Greece, the “Troika” — a new shorthand for the combined will of the European Commission, European Central Bank, and International Monetary Fund — has actively and enthusiastically embraced Maggie Thatcher’s social and political philosophy, memorably captured in her chilling assertion, “There is no such thing as society.”

That philosophy has found its fullest and most concrete exposition in a 2014 “competition assessment” of Greece made by the Organization for Economic Cooperation and Development (OECD).  The OECD analyzed 555 Greek regulatory restrictions and made 329 specific recommendations the Troika expects Greece to enact with dispatch. Again and again the report views as virtually criminal regulations that favor small business, local ownership, and a reliance on local and domestic suppliers.

The OECD, for example, points an accusing finger at a Greek regulation requiring milk labeled “fresh” to have a maximum shelf life of 5 days. The regulation makes Greek “fresh” milk, on average, more expensive than in other EU countries. Why? “The high retail price of milk in Greece is a direct consequence of the high prices paid to Greek producers, since the five-day regulation makes imports next to impossible.” To the economists at the OECD and the Troika price is all. But the majority of Greeks, and I daresay many of the rest of us, might well support an agriculture policy that asks us to pay a few more cents for a bottle of milk to sustain and nurture an ecosystem of small, domestic dairy farmers.

The OECD demands Greece abolish any laws restricting the days or hours a business can operate (e.g., Sunday closing laws) — despite the fact that several European countries have enacted such policies to protect workers and small businesses. Germany has some of the most restrictive rules on opening hours of all.

The OECD insists, “The current retail price regulation of books should be abolished…” Why? “(N)ew retail channels such as the Internet will be developed.” The market demands that small publishers and bookstores make way for Amazon.

The OECD bids Greece abolish ownership provisions to “allow the development of retail pharmacy chains not owned or run by pharmacists.” The country’s pharmacy care should be opened to giant drugstore chains.

Each of these examples reveals a full-throated assault on Greek society by the Troika. Let’s examine the OECD and the Troika’s bid to overturn Greece’s pharmacy laws more closely. These require, as noted, that pharmacies be owned and operated by a licensed pharmacist, prohibit a pharmacist from owning more than one store, require that over-the-counter drugs be sold only in pharmacies, and cap the price of these medicines. The OECD’s demands galvanized a 24-hour strike by pharmacists in mid June. Continue reading

TPP ship and statue of liberty
Featured Article filed under The Public Good | Written by David Morris | No Comments | Updated on Jun 21, 2015

Trade and Sovereignty

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/trade-and-sovereignty/

On May 8th at Nike’s headquarters, President Obama denounced opponents of the hotly contested Trans-Pacific Partnership as ill informed. “(C)ritics warn that parts of this deal would undermine American regulation….They’re making this stuff up. This is just not true. No trade agreement is going to force us to change our laws.” On May 18th the… Continue reading

We_People
Featured Article filed under The Public Good | Written by David Morris | No Comments | Updated on Jun 15, 2015

Treaties, Trade Agreements and Government by the People

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/treaties-trade-agreements-and-government-by-the-people/

For much of our history, trade agreements were considered treaties. According to the Constitution they had to be ratified by a two-thirds vote of the Senate. The House does not participate in ratification of treaties (Article II, Section 2). By the late 19th century Congress realized it was far too cumbersome to require a Congressional… Continue reading

Photo: Lowe's store.
Featured Article filed under Independent Business, The Public Good | Written by Olivia LaVecchia | 15 Comments | Updated on Jun 16, 2015

For Cities, Big-Box Stores Are Becoming Even More of a Terrible Deal

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/dark-store-tax-tactic-makes-big-box-stores-terrible-deal-for-cities/

Under what has become known as the “dark store” method, big-box retailers are declaring their busy stores to be functionally obsolescent and therefore nearly worthless for tax purposes —and they’re winning big judgments for back taxes. It’s the latest example of the way that, even as local governments continue to bend over backwards to attract big-box development, these stores are consistently a terrible deal. Continue reading

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Featured Article filed under The Public Good | Written by David Morris | No Comments | Updated on May 29, 2015

Adam Smith vs. Ayn Rand

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/adam-smith-vs-ayn-rand/

In a 2011 CNN/Tea Party Express Republican Debate moderator Wolf Blitzer famously asked prominent libertarian Representative Ron Paul a “hypothetical question” about the soon-to-be-operational Obamacare: What should be done when a 30-year old man decides not to buy health insurance and then requires significant medical intervention that he cannot afford? Paul predictably responded. He should… Continue reading