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Hong Kong’s descent into complacency

(Next Magazine, 2017/04/29, A002, Second Opinion, Bill Stacey) Hong Kong’s descent into complacency Some translations of the Old Testament book of Deuteronomy say that complacency leads to idolatry and brings destruction on the land. We are becoming complacent. As the seasons turn, we move through the last of the spring festivalsContinue reading>

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The Anti-Capitalist Mentality

The Anti-Capitalist Mentality By Nick Sallnow-Smith (As appeared on our April 2017 Newsletter) In 1956 Ludwig von Mises published his short book “The Anti-Capitalist Mentality”. In the immediate post-war era, when the Soviet Union had been an ally of the western powers, socialist thinking was the dominant stream of economicContinue reading>

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Spare us the auction on stolen goods

(Next Magazine, 2016/12/30, A002, Second Opinion, Bill Stacey) As our next Chief Executive “horse race” starts, we should heed the American critic HL Mencken’s warning that “every election is a sort of advanced auction on stolen goods”,  and remain vigilant against unrealistic promises from candidates that reach into our pockets orContinue reading>

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Government is the problem, not the solution

(Next Magazine, 2016/10/6, A002, Second Opinion, Bill Stacey) Political debate in Hong Kong is almost invariably trapped in the “nirvana fallacy”, which according to economist Harold Demsetz, “implicitly presents the relevant choice as between an ideal norm and an existing imperfect institutional arrangement.” This leads to bad decision-making and bad arguments,Continue reading>

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Assaulting our competitive edge

(Next Magazine, 2016/7/21, A002, Second Opinion, Bill Stacey) Assaulting our competitive edge Pride comes before the fall according the Book of Proverbs. One Hong Kong achievement worth being proud of was our world beating Octopus card. Whilst cities around the world from London and New York to Melbourne were struggling withContinue reading>