RUTHFULLY YOURS

https://quillette.com/2024/04/04/innovation-utilitarianism-conor-mckinley-tesla/

Utilitarianism is currently en vogue. Two of its important contentions are that all lives have equal value and that decisions should be evaluated on how much they raise average well-being (so-called utility). This philosophy underpins many left-wing economic policies because the same amount of money has more value to a poor person than to a rich one. For example, if you take $100 from Jeff Bezos and give it to a starving artist, Bezos won’t even notice but the artist will have ramen for weeks, and average utility will therefore increase. This is probably the rationale behind Bernie Sanders’ claim that the “obscene level of income and wealth inequality in America is a profoundly moral issue that we cannot continue to ignore.” Implicit in this is the assumption that the redistribution of wealth would provide much more benefit to the poor than it would harm the rich.

The problem is that this is only true if we restrict our view to the domestic arena. When inequality is measured on a global scale, most people in the developed world can be considered affluent. If we include foreigners into our utility calculus, we should recommend very different policies: in particular, we should loosen regulations on biotech; we should oppose excessive unionisation; and we should increase the number of highly skilled immigrants we accept.

All these policies promote the most effective foreign aid programme ever discovered: innovation. Figuring out how to do things is expensive, but once we develop that knowledge, it is relatively cheap to distribute. For example, US research institutions and venture capitalists have poured billions into AI research and, as a result, ChatGPT has given every kid with access to the Internet a personal tutor that is an expert in every subject. There is well documented research to show that this effect, known as “catch-up growth,” partially explains why emerging markets grow faster than developed ones. They can just copy what has already worked for us.

Biotech

Developing countries are generally unable to invest large amounts into the research and development of new drugs. But, thanks to innovation in the US, Japan, and Europe, this has not stopped them from accessing vaccines against polio, malaria, smallpox, and COVID-19.

Pharmaceutical companies get lots of bad press for their high profit margins on successful drugs (think of Martin Shkreli). But these criticisms fail to consider the underlying pharmaceutical business model: successful drugs have to pay for all the drugs that never made it to market.

http://www.swtotd.blogspot.com

As Americans we have choices, except when we don’t. When liberty is at risk, we have a duty to ensure that freedom reigns. In his Farewell Address (published in September 1796), George Washington wrote: “The independence and liberty you possess are the work of joint councils and joint efforts – of common dangers, sufferings, and successes.” There are times when liberty needs defending.

While Washington, in the same Address, warned against foreign entanglements, he could not have foreseen how the world would shrink. By the dawn of the 20th Century, steamships and later air travel shortened distances across the Atlantic and Pacific, encouraging commerce, trade and tourism. Obligations, embedded in treaties and alliances, extended beyond our borders. By the late 1930s Europe was mired in a second world war, brought about by Hitler’s hatred for Jews and his desire for lebensraum – living space. Over the course of almost six years he and his NAZIs murdered seven million Jews. At its peak, in November 1942, Germany dominated Europe. Apart from the United Kingdom, Sweden, Switzerland, Spain, and Portugal, Germany’s occupation extended 2,500 miles, from Brittany east to Stalingrad (now Volgograd), and 2,100 miles from Helsinki south to Athens. As well, they controlled a good part of North Africa.

On December 7, 1941 Japan attacked our naval base at Pearl Harbor. The next day, the U.S. declared war on Japan. In his address to Congress on December 8, President Roosevelt committed the United States: “No matter how long it may take us to overcome this premeditated invasion, the American people, in their righteous might, will win through to absolute victory.”  Three days later, Germany declared war on the United States. Two years later, by early 1944, the momentum of the War, which in Europe, North Africa and the Middle East was in its fifth year, favored the Allies. Even so, some of its costliest battles – the invasion of Normandy, the Battle of the Bulge, Okinawa, and Iwo Jima – were still in the future. Millions of soldiers and civilians were yet to die.