The Breaking Point

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The Breaking Point Page 54

by James Dale Davidson


  fake, 371–72

  growth, 371

  multiple, 91

  John of England, 82, 124, 125, 127, 133

  John of Leiden, 79–80

  Johnson, David Cay, 252

  Johnson, Lyndon, 360–61

  Jose Cycle, 194

  Journal of Applied Econometrics, 391–92

  Journal of Atmospheric and Solar-Terrestrial Physics, 220

  Journal of Economic Growth, 17, 44, 47, 476

  Juncker, Jean Claud, 493

  Jupiter, 195, 197, 225

  justice, sale of, 125

  Juvenal, 400

  K

  Kabul Press, 465–66

  Kachin societies, 226

  Kaempffert, Waldemar, 94–95

  Kaldellis, Anthony, 469

  Kaminska, Izabella, 138

  Kanjorski, Paul, 173

  Kashmir, 229–30

  Kavoussi, Bonnie, 93

  Kazakhstan, 477

  Keller, Helen, 480

  Kentucky Resolution, 474

  Keohane, Robert, 117, 120–21

  Kesser, Chris, 293

  Keynes, John Maynard, 26, 88–89, 116, 243, 352

  Khanin, Grigory, 10, 493

  Kiribati, 203

  Kishanganga Hydroelectric Plant, 230

  kleptocracy, 41–43

  Kondratiev, Nikolai, 173

  Kotlikoff, Laurence, 350, 422, 424

  Krieger, Mike, 17

  Krumholz, Harlan M., 288

  Kurzweil, Ray, 62–64

  L

  labor

  commodification of, 79, 248

  division of, 78

  forced, 147

  participation in labor force, 362–63

  reduction in labor force, 139

  labor theory of value, 55–58, 72, 304–5

  labor unions, 37–38

  “Lack of Association Between Cholesterol and Coronary Heart Disease” (Krumholz), 288

  Lancet, 288

  Land Bank, 113

  Landscheidt, Theodor, 181, 193, 222

  Lane, Frederic, 450

  Lansky, Meyer, 265

  large groups, 242

  Latin America, 150

  Lausanne School, 302

  laws of nature, 5–6, 27–28

  lawyers, 131

  Lee Kuan Yew, 82, 118, 449–52, 497

  legacy institutions, 411

  Lehman Brothers, 136–37, 163, 381, 435, 494

  Lenin, Vladimir, 11

  Let’s Take Back Your Health (Kesser), 293

  Letters on Sunspots (Galileo), 226

  Lewinsky, Monica, 266

  Lewis, Peter, 41

  lies about economy, 2, 11–12, 135–39, 282, 381, 495

  life, artificial, 62–64

  Life after Growth (Morgan), 105, 301, 304, 309, 496

  life expectancy, 152

  Lincoln, Abraham, 259

  Lindzen, Richard, 22

  Link, Stefan, 36–37

  Litan, Robert E., 369

  Little Ice Age, 28, 179–81, 186, 192–93, 196, 219, 222, 226–28

  Littoral Combat Ship, 243–44, 411

  loans

  nonrecourse, 268

  student, 269

  lobbying, 43–44, 262

  Lobo, Julio, 264

  Lofgren, Mike, 235, 237–39, 245–48, 253

  Logic of Collective Action, The (Olson), 242

  Logic of Scientific Discovery, The (Popper), 401

  London Interbank Offered Rate (LIBOR), 166

  London Metal Exchange, 434

  “London Should Break Free from Little England” (Stephens), 478

  London Stock Exchange, 485

  long cycles, 173

  “Long-Lost Free Market in Health Care” (French), 295

  Longmay Group, 432

  long view of history, 28–29

  Long-Wave Rhythms in Economic Development and Political Behavior (Berry), 178

  Louis XII of France, 15

  Lovins, Hunter and Amory, 256

  low-fat, high-carb diet, 282–83, 295

  low productivity sectors, 278

  low-wage service work, 371

  Luciano, Charles “Lucky,” 265

  Lustig, Robert, 273, 283

  Lydia, 313

  M

  Maasai tribe, 286

  Maastricht Treaty, 413

  MacDonald, Gregor, 342–43

  MacDonald, Ramsay, 116

  Machine Age, ix–xi

  Machlup, Fritz, 320

  Mackinsey, Wood, 387

  “Macroeconomics of Unbalanced Growth” (Baumol), 296

  Madison, James, 474

  Mad Max, 356–57, 391–94

  Magna Carta, 124–28, 130, 133–34

  Magnificent and Beggar Land (Oliveira), 42

  Mair, Thomas, 408

  Mairano, Romano, 487–88

  Maldives, 203–4

  malinvestment, 429–30

  Malthus, Thomas Robert, 334

  Mandelbrot, Benoît, 174

  Manuel, Victor, 222

  manufacturing, 102, 371–74

  “Many Failed Efforts to Count Nation’s Federal Criminal Laws” (Wall Street Journal), 157

  maps, 454–55, 458

  Marcus, Joyce, 78–79

  margarine, 284

  marginal returns on investment, 140, 335–39, 446

  marijuana legalization, 474

  market bubbles, 446

  market dynamics, 423

  Marx, Karl, 40, 53–83, 248, 312

  “Marx in Detroit” (Tronti), 38

  Massey Energy, 432

  mass production, 35–37

  mass prosperity, 98

  mathematics, 302–3

  Matterhorn Asset Management of Switzerland, 351, 416, 441

  Maunder, William, 219

  Maunder Minimum, 179, 192, 197, 219

  Mayans, 456–57

  Mazzucato, Mariana, 388

  McAfee, Andrew, 72–73

  McCausland, James, 391–94

  McConnell, John M., 254–56

  McCracken, Ken, 193–94

  McCracken, Paul, 118

  McGovern, George, 282

  McKay, G. A., 496–98

  McKinsey Global Institute, 437

  McNamara, Frank, 92

  McNeill, J. R., 306–7

  mean sea level (MSL), 208, 210

  medical industry, 278–79, 296–99, 492

  medical tourism, 151–53

  Medicare, 153

  medicine, molecular, 65

  medieval commerce, 488

  Medisave program, 450

  megapolitics, x, 3–5, 30–32, 77–78, 410–12

  Menger, Carl, 68

  Mercantile Exchange (NYMEX), 441

  Mercola, Joseph, 273

  Merkel, Angela, 156

  metaconstitution, 58

  metageography, 21–22, 447–48, 454–58

  Metamorphoses (Ovid), 78

  MetLife, 399

  Mexico, 148

  Meyerson, Harold, 38

  Miccosukee Tribe, 475

  Micklethwait, John, 446

  Micronesia, 206

  microscopes, 65

  microsovereignties, 61, 479–80, 497

  See also city-states

  middle class, 138–39, 387

  Milbank, Dana, 129

  mileage efficiency, 382

  military-industrial complex, 235

  military interventions, 14

  military spending, 119–20, 243–44, 253, 410, 492

  Mill, John Stuart, 333, 334–35

  millenarian sects, 79–81

  Miller, George, 391–94

  minimum income, 75–76

  Minsky, Hyman, 121

  “Miracles You’ll See in the Next 50 Years” (Kaempffert), 94

  misdirection of production, 89–90

  Mises, Ludwig von, 89

  moats, 60–62

  Modern Age, 14–16

  molecular medicine, 65

  Monaco, 152


  “Monetary Theory and the Trade Cycle” (Hayek), 121

  money

  evolution of, 107

  manipulation of, 313–16

  supply, 315, 350

  Money Beat, 51

  money market investments, 435

  monopolies, interlocked, 11

  monstrous hybrids, 134, 497

  Monte dei Paschi, 400

  Monte San Giovanni, 15

  Moore, Patrick, 185

  Moore’s Law, 63

  morality, 77–78

  moral syndromes, 132

  Morgan, Tim, 55, 105, 301–12, 317, 339, 349, 357, 496

  Mörner, Niels-Axel, 203–7, 211–12

  Morrison, James, 115–16

  mortgage-backed securities, 163–64

  “Most Americans Best Days Are behind Them” (Cameron and Mellnik), 98

  movement of people, 452

  Moyers, Bill, 235

  Mughal, Murtaza, 217

  Mulligan, Robert F., 69, 70

  Mummery, F., 314

  Munster, Germany, 79–80

  Murthy, Vivek H., 239

  Muscovy cycle, 179

  musical chairs, 371

  Muwekma Ohlone Tribe, 475

  Myerson, Harold, 98

  Mylchreest, Paul, 103

  N

  nanotechnologies, 62–63

  Napoleon, 477

  Napoleonic Wars, 114–15, 465

  Napolitano, Andrew, 129–30

  Nasheed, Mohamed, 203

  Nasuti, Matthew J., 465–66

  National Aeronautics and Space Administration (NASA), 23, 221, 446–47

  National Bank Act of 1864, 315

  national debt, 91, 120, 245, 337–38, 415, 490–91

  National Defense Authorization Act (NDAA), 158

  National Geographic, 12, 225

  National Oceanic and Atmospheric Administration (NOAA), 221

  National Public Radio (NPR), 48

  National Security Agency (NSA), 156–57, 235–37, 254

  National Taxpayers Union, 261

  National Tide Facility (NTF), 205

  National Weather Service, 181

  nation-states, 12–13, 75, 125, 231, 337–38, 390, 446, 453, 458, 470–80

  See also big government

  nature, state of, 26–30

  Nazarbayev, Nursultan, 471

  NBC News, 59

  n-body problem, 197

  Nefedov, Sergey, 177, 186, 245, 247

  neoboreal climate, 231–32

  Neptune, 197, 198, 225

  Network World, 159

  Neuromancer (Gibson), 459

  New Approach to the Economics of Healthcare (Olson), 298

  Newby, Elisa, 116, 119, 318

  news, independent, 181

  Newsmax, 181

  New Studies in Philosophy, Politics, Economics and the History of Ideas, 107

  Newsweek, 419

  Newton, Isaac, 113–14, 197, 208

  New York magazine, 182

  New York Times, 73, 149–50, 250–51, 266, 269–70

  nickel, 433–34

  Nielson, Jeff, 381, 419–22, 426, 434

  Nineteen Eighty-Four (Orwell), 155–56, 369

  Nixon, Richard, 48, 50, 117–19, 243, 344, 386

  Nizami, Majid, 230

  nonconstitutional politics, 5

  nonrecourse loans, 268

  Norman Conquest of England, 31

  Normann, Wilhelm, 284

  North, Douglas, 126

  Nove su Dieci (Pianta), 388

  Novum Organum Scientiarum (Bacon), 212

  nullification, 474–75

  nutrition, 92–93

  O

  Obama, Barack, 104, 129–31, 156, 239, 360, 369, 389, 467

  Obamacare, 151, 298–99, 365–66

  obesity, 93, 152, 273, 279, 290–97

  Observations Tending to Investigate the Matters of the Sun, 219

  Occasion, 493

  Octavian, 469–71

  off-balance-sheet entities, 424

  offshoring, 358

  oil

  collapse in price, 20, 351

  consumption and income, 382

  decrease in production, 380

  diminishing returns, 337

  and economic growth, 317

  peak oil, 308, 386, 391

  production, 307–8

  productivity, 383

  rise in prices, 345, 377

  shale, 309–10

  Oliveira, Ricardo Soares de, 42

  Olson, Mancur, 174–75, 240–42, 280, 298

  omega-6 fatty acids, 284–86

  oncology, 292–93

  On the Cause of the Greatness of Cities (Botero), 176

  “Opening Pandora’s Box” (Wrigley), 330

  organic economy, 327, 329–31, 384–85, 490

  Organisation for Economic Co-operation and Development (OECD), 153

  original thought, 126–27

  Orlov, Dmitry, 484, 495–96

  Orwell, George, 155–56

  Osborne, Michael, 73

  “Our Current Illusion of Prosperity” (Hollenbeck), 8

  OurWorldInData.org, 3

  Ovid, 78

  Oxford Martin School, 73

  P

  Pakistan, 229–32

  Pakistan Economy Watch (PEW), 217

  Pakistan Today, 217

  Palm Beach, Florida, 266

  paper gold, 440–41

  “Paper vs. Real” (MacDonald), 342–43

  Pareto, Vilfredo, 302

  Park, Alice, 294

  Paterson, Isabel, 113–14

  Patriot Act, 154–55

  Patriot-in-Exile, 408

  Paul, Rand, 240

  peace dividend, xi

  peak oil, 308, 386, 391

  pediatricians, 297

  pensions, 137, 359, 497

  permafrost, 214

  perpetual motion, 303, 319

  personal power, 31–32

  perverse policy syndrome, 174

  Petrobras, 42

  Pew Charitable Trusts, 8, 364

  pharmaceutical industry, 293–98

  Phillip II of France, 82

  physics, 302–3

  Physiology of Industry, The (Mummery and Hobson), 314

  Pianta, Mario, 388

  Picketty, Thomas, xiv

  pieces of eight, 110

  pimpocracy, 43

  Pirenne, Henri, 88–89, 487–89, 495

  planetary alignments, 193–98

  “Planet Money” (NPR), 48

  Plantagenet cycle, 179

  Playfair, William, 4, 32, 34

  plunder, 40–52, 69–70, 385

  Pluto, 225

  Podobnik, Bruce, 451

  polar bears, 222

  political attitudes, 447–48

  political donations, 262

  Politico, 250

  Politifact.com, 13

  “Polluter Pays Study” (Everglades Foundation), 271

  Poole, R. L., 457

  Pope Francis, 183

  Pope Innocent III, 127

  Popper, Karl, 401

  Popular Mechanics, 94

  Popular Movement for the Liberation of Angola (PMLA), 41–42

  Popular Science, 281

  population

  decline, 82

  growth, 3, 93, 176

  Population Reference Bureau, 151

  Porsche, Ferdinand, 37

  pound, British, 403–4

  poverty, 372

  Poverty of Philosophy, The (Marx), 54

  power

  centralization of, 33–34

  cost of projecting, 467

  devolution to small scale, 468

  territorial and personal, 31–32

  See also violence

  predatory rule, 126

  preindustrial societies, 347

  Principia (Newton), 197, 208

  privacy, 129, 465

  privileged groups, 241–42

  Procter & Gamble, 284

  production, misdi
rection of, 89–90

  productivity, 314, 372

  productivity growth, 73–74

  profits, manufacturing, 102

  programmers, 72–73

  progressive state, 327–35

  propaganda, science research, 199

  property rights, 69–70, 78, 125

  “Property Rights and Time Preference” (Mulligan), 69

  proprietary governments, 450

  prosperity, 352

  fabricated, 9–10

  protection services, 448

  public opinion, 282

  purchasing patterns, 376

  Pursuit of the Millennium (Cohn), 79

  Putilnik, Lev A., 219

  Putin, Vladimir, 249–50

  Q

  quantitative easing (QE), 6–7, 48–50, 69, 161–69, 250–54, 427, 491

  Quebec independence, 471–72

  Quincey, Saire de, 124–28, 133–34

  quota systems, 270

  R

  Rae, Douglas W., 317

  Ramsey, Drew, 276

  Rand, Ayn, 96–97

  RAND Corporation, 10

  Rankka, Maria, 250

  ransoms, 82

  real estate investors, 166

  reality gap, 381

  recession, 363

  recovery, 368–70

  redistribution of hunt, 76–77

  redistribution of income, 51, 478

  Red Queen’s Race, 386

  redress of grievances, 159

  Rees-Mogg, William, 2–3, 7, 16, 22, 27, 34

  reference ellipsoids, 208–9

  regime changes, 14

  Reginald of Durham, 487

  regulation, 17, 47, 88–89, 130–31, 157–58, 476

  Remote Sensing Systems (RSS), 224

  replicative senescence, 65

  Reporters Without Borders, 129

  Reserve Fund, 435

  reserve funds, 374–75

  resources, biophysical limits to, 189

  retail sales, 106

  retirement, 67–68, 149, 362

  retrenchment, 119, 363, 380, 389

  retrograde economy, 391

  “Return of Karl Marx, The” (Cassidy), 40

  return on capital, 425

  Revolution and Rebellion in the Early Modern World (Goldstone), 176

  revolving door, 253–55

  Ricardo, David, 115

  Richard II of England, 31

  Richard I of England, 133

  Rickenbacker, William F., 101–2

  Ridley, Matt, 185–86

  rights of individuals, 161

  Rise and Decline of Nations, The (Olson), 174–75, 240, 280, 298

  River Rouge Complex, 36–37

  Roberts, Paul Craig, 16

  Robert Wood Johnson Foundation, 152

  Rockefeller, Jay, 236

  Rogers, Jim, 417

  Role of Climate in Affecting Energy Demand/Supply, The (McKay and Allsopp), 496

  Role of Money, The (Soddy), 49

  Roman Empire, 145–48, 468–71

  Roman Warm Period, 227

  Rosiak, Luke, 86–87

  Rothbard, Murray, 69, 314, 412–13

  Rousseff, Dilma, 42

  Ruggie, John G., 31

  rule of law, 124, 130

  Russia, 17, 249–50, 477

  S

  Saint Cuthbert, 486

  Saint George, 109

  Saint Godric of Finchale, 484–87

 

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