Well I definitely don’t think we could have squeezed any more into my last week at the CPS!
This week the CPS has released a new report into UK manufacturing. The report is extremely comprehensive. It is filled with recommendations which the UK government would be wise to take on. My personal favourites are the ideas of Free Ports, improvements in tariff and non-tariff barrier policy as well as the pursuing of free trade agreement with the EU modeled on CETA and a bilateral trade deal with the US.
The CPS had previously published a report by Rishi Sunak MP, which argues for the pursuing of free ports after Brexit. I was unaware what a free port was. Free ports are considered outside of the boundary of a country for customs purposes. This allows goods to enter, and after some value-adding, leave without being subject to tariffs and other economic burdens.
The lower input costs make manufacturing more viable, which will incentivise production and wealth creation. Rishi Sunak advised that these free ports could be implemented in areas that have high levels of socio-economic deprivation in order to boost growth in regional communities. James and Daniel prosecuted the case for free ports, free trade and many other initiatives in order to boost UK manufacturing.
The CPS hosted a book launch on Tuesday night. The writer was Rory Stewart, the Minister of State for International Development. His book documents the walk he did with his father along the English and Scottish border. The CPS was kind enough to give me a copy of the book which Rory signed.
Unfortunately it will be joining the book pile next to my bed that is about knee height! There is too much to read and not enough time. I’m looking forward to finding out about Rory’s insight regarding the UK.
In a recent interview, Bill Gates said robots that replace humans should be subject to some kind of tax. Bill decided that because the robot has put someone out of business, it’s productive capacity should be taxed somehow to make up for the loss of revenue with the worker no longer having a job.
I wrote a post explaining to Bill that if we taxed every labour saving device for the number of jobs it removed, we would be stuck in poverty. Every invention does cause some short term friction. Improvements in technology allow us to move into more productive fields of employment, or for less individuals to produce more with improved technology.
Leaps forward in technology have historically improved our lives, not created mass unemployment. Bill is wrong to think this tax is a wise idea. In my post I take a little look at history to see what other efficiency gains would be absurd to tax. You can read my post here.
Connor, Hannah and I will be attending a lecture at the Adam Smith Institute delivered by Dr Andrew Bernstein today. Dr Bernstein is an Ayn Rand specialist and philosophy professor. His lecture will be on Black Innovators and Entrepreneurs Under Capitalism.
I’m very excited to see what insights Dr Bernstein will present. He is also an expert on the moral superiority of Capitalism compared to other systems, and I would concur. To quote Fred E. Foldvary,
“A free economy is part of a free society, one in which each person may live by his own values. A free society has a free market for the same reason it has free expression and the freedom to choose one’s lifestyle: because people have the right to be free from coercion in any area of life.
Not only are the opponents of free markets wrong, in their moral arguments; their proposed alternatives are inherently immoral since they are coercive.
The case for the free market exists on firm moral ground: the free market, free from coercion, is the only ethical market.”
With the end of my time in London fast approaching, it is hard to believe I have been here since the end of December! Time flies when you are having fun! It has been a whirlwind trying to see more sites in the city. I strolled up to Trafalgar Square and walked through St James Park after work this week.
The sun is finally staying out late enough to have a bit of daylight after work. This scholarship has been an amazing opportunity. Flying 15000 km from home in order to gain some real world experience in a think tank has been exciting, insightful and thought provoking. There are a myriad of ways we can improve as a nation and I hope as scholars we can have an impact.
There can’t be enough gratitude given to the extremely generous Ron Manners and the team and contributors at the Mannkal Foundation. This experience is unparalleled and I would recommend that any liberty minded individual get involved.
Thank you Ron for the life-changing experience! I look forward to remaining involved with Mannkal and the Liberty movement.