Thursday, May 10, 2007

[party politics] oh for goodness' sake

Nicolas Sarkozy's three-day cruise in Malta has been called "ostentatious" and "scandalous" by former Socialist Justice Minister Elisabeth Guigou.

"All this money when he pretends to be the... president of all French [people]," she said on French TV station iTele.

Elisabeth, put brain into gear before engaging mouth:

1] It's not costing the French taxpayer one Euro;

2] He's not Prez yet so what are you talking about?

2] More than one person has said he needs to get it right with his wife Cecilia and son Louis, 10 first, get the whole business of New York and everything else behind them;

3] Where else to escape the paparazzi than on a private boat?

5] How mean to deny him a short sojourn of three days.

Seems to me that either he or the people behind him are doing it well. The whole thing looks and 'smells' professional and this 'think time' is exactly what is needed for the horror period coming up. Don't know about you but I'm liking him more and more.

[annuities] help me please, mr economist

In The Lotus Eater, by William Somerset Maugham, the main protagonist, Wilson, explains his annuity:

With that and what I`d got for the sale of my house and the little I`d managed to save, I just hadn`t enough to buy an annuity to last the rest of my life.

It would have been silly to sacrifice everything so as to lead a pleasant life and not have a sufficient income to make it pleasant.

I wanted to have a little place of my own, a servant to look after me, enough to buy tobacco, decent food, books now and then, and something over for emergencies.

I knew pretty well how much I needed. I found I had just enough to buy an annuity for twenty-five years."

Those familiar with the story know that his idea was to top himself when the 25 years was up [no further spoilers here].

This got me thinking about annuities - life and fixed term. All right, so life annuities are fine. They're a gamble, weighted towards the provider but the idea of doing the provider out of a tidy sum just by living long enough, this tickles the fancy.

If we lose out, we wouldn't be around to regret it.

What puzzles me though and I need this explained in words of one syllable or less, is why anyone would go for a fixed term annuity, say 25 years?

Is the rate better, is it the lack of worry, knowing that payment is guaranteed for that time? What? Why wouldn't you invest the sum in a varied portfolio and get a decent return?

That's all I wanted to ask.

Wednesday, May 09, 2007

[wednesday quiz] of letters and the dance

Which one word coincides with the following definitions?

1. An historic dance performed by four couples in a square formation, popular with lobsters, according to Carroll. [-u---i--e]

2. A form of repetition in writing where subsequent clauses begin with the same word. [-n--h--a]

3. A dramatic entertainment involving dances and disguises in which the spectacular and musical elements predominate over plot and character.[-a--ue]

4. A fourteen line poem, usually with ten syllables a line in the English version. [-o--et]

5. A figurative narrative or description, conveying a veiled moral meaning; an extended metaphor. [a---g-r-]

6. A figure in which a verb or adjective governs or modifies two nouns, to only one of which it is logically applicable. [-eu--a]

7. A stanza of four lines, usually rhyming alternately. [-ua----n]

8. A writing or statement of doubtful authority. [a-o---p--]

9. A new word or phrase, or a new sense for an old one. [-e--o-i--]

10. A figure of speech expressing much more than the truth; rhetorical exaggeration. [-y-e--o--]

Answers here.

[sorry] just had to post it

Yes, I know I promised. But this one is for Ruthie and Lord Nazh. [Percentages refer to the last 100 visitors today.]

[check this out] a libertarian in the headlights...

Britbloggers, think you'd better get over to this great new blog and check it out. Rob's current post is on the NZRU and is quite entertaining.

I just hope he does a post on his super furry animals.

[resource crisis] the tragedy of the commons

The William Forster Lloyd and Garrett Hardin Tragedy of the Commons can be seen starkly in almost every Russian house.

Whilst individual flats are often sumptuously furnished and sparklingly clean of the last trace of dust, not so the 'padyezdi' and 'ploshadki' - the landings and stairwells.

With cracked stucco walls painted a drab creamy green and concrete stairs dirty and noisome, with graffiti sprayed all over the walls and twisted bits of rusted metal protruding at dangerous angles, the route from the front door of the house to the flat door is a disgrace.

The lift is also foul and dirty and yet the mechanism controlling it is well-oiled and constantly inspected.

"They" are responsible for maintaining it, "they" sweep it perfunctorily once a fortnight, "they" are some local authority or firm whom nobody ever speaks to.

Outside one's immediate door, it's much better. Neighbours take it in turns to keep things maintained, lightbulbs are changed and mats beaten.

This is one of the tragedies of the commons. There are others. Wiki describes the phenomenon thus:

# free access and unrestricted demand for a finite resource ultimately dooms the resource through over-exploitation. This occurs because the benefits of exploitation accrue to individuals, each of which is motivated to maximize his or her own use of the resource, while the costs of exploitation are distributed between all those to whom the resource is available. Ths creates a situation of "relentless working" of a resource until it is exhausted;

# the atmosphere, oceans, rivers, fish stocks, National Parks, advertising and even parking meters are all part of the commons in a modern context.

An interesting question is that of peoples moving into an area. The first people in get the choicest plots and those who follow progressively take the lesser or more outlying areas. This creates an aristocracy.

Is prior occupation, by definition legitimacy? If two peoples have occupied an area for thousands of years, e.g. descendants of Canaan and of Israel, is the one immediately prior to the other by a few years the one with the birthright? Do first sons have the right to the whole estate?

Two solutions, according to Wiki:

# The idea of dividing the commons into private parcels is often advocated by classical liberals, who tend to argue that this division should be done according to the Lockean principle of homesteading - allowing individuals to acquire property rights in a previously unowned resource by using it on a "first come first served" basis.

A corollary of this is "user pays" or "polluter pays".

# Resources that have traditionally been managed communally by local organisations are enclosed or privatised. Ostensibly this serves to "protect" such resources, but it ignores the pre-existing management, often unfairly appropriating resources.

Frankly, I don't know the solution. I do know that the solution must be agreed upon, as ever-increasing population pollutes and overuses our finite resources.

My mindset favours the classic liberal approach but what of electricity supply or telephone services?

One thing for sure - regulation must not enter into this thing or must be absolutely minimized because it raises the spectre of control by Statists, Socialists, PC devotees, Feministi, Gay mafiosi, Cabals and other evils.

The liberal idea of banding together with your immediate neighbours to maintain common resources, [the corridor outside my flat, mentioned above], seems the better solution.

This doesn't answer the question of resources exploited by individuals between settlements, i.e. the despoiling of the countryside for personal gain.

Hmmmm. It's a difficult one.