At 4.00 am, all the ferries are converging on Mariehamn, population about 10,000? Where is Mariehamn? It is the capital of Åland, which is ethnically Swedish but belongs to Finland. Rather than blowing each other up, they agree to go their own ways, so they opted out of the EU tax regime. The ferries stop there so they can have a duty-free shop on board. Nutty, isn't it?
I got involved in a discussion with a Youtuber called “Philosophy all along”. This was in connection with criticism of Trump’s policy of deporting illegal migrants, which he argued would be bad for the economy as it would reduce demand. This implies that there is a need to import people to sustain demand. There is no obvious reason why a population should not be able to consume everything that the same population produces. If it can not, then something else is going on. It is a basic principle that wages are the least that workers will accept to do a job. Wages are a share of the value added by workers through their wages. The remainder is distributed as economic rent, after government has taken its cut in taxes. Monopoly profit is a temporary surplus that after a delay gets absorbed into economic rent. Land values in Silicon Valley are an example of this; it's like a gold rush. The miners get little out of it. Rent and tax syphon purchasing power away from those who produce the g...
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