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the Origin of income

The total income of a country is necessarily the consideration of its production In the same way as Robinson Crusoe's income is necessarily the fruit of his labor and more or less generous nature. In this sense, at the aggregate level of the national economy, national income and national product are two sides of the same magnitude. At the individual level, the economic return is the return for the contribution of the agent to the overall force production. In an economy in kind, product and income are identical. In a monetary economy, the economic agent must be in monetary form the exact counterpart of what he produces. However, in reality, an exact estimate of this magnitude is problematic. If you ask any person, he still believes that his income is insufficient and does not earn what he really deserves.

In the modern economy, production is a phenomenon socialized in the sense that, because of the sectoral division of labor increasingly thin - between business and the company itself - no one can produce isolation without the assistance of other economic actors (private and public).
The main actors in modern economic system are those that provide inputs (capital, labor, raw materials, skills) and those that combine within a company (the contractor). The mobilization of production factors in the company results in the creation and distribution of economic returns. Thus, the process of production of wealth is in the same time a process of distribution of wealth in the form of direct and indirect distribution of income.

Income, which is independent of any productive effort is seen as an annuity. All other forms of income refers to an economic act. Thus, wages remunerated work, the latter can be manual, physical or intellectual. The interest remunerate the contribution of capital through the banking system (indirect funding). The dividend remunerate the contribution of capital through financial markets (direct financing). These revenues are essential because without capital injection, the activity could be financed and no jobs would be created. Finally, profits remunerate the contractor.
From the moment we assume that all these revenues are the result of a decision and an act of economic, they are all necessary and legitimate. If a worker does not receive a salary equal to his productivity, there is a risk of demotivating the worker can leave at any wage proposal more attractive. This turnover represents a cost to the company since an experienced worker contributes to the overall performance of the company. The worker is more competent, more it mobilizes human capital that he had himself acquired after a training process is often long and expensive. But the reverse is also perilous risk of overpaying an employee because of poor competency evaluation real.
Similarly, an economic actor must pay interest if he wants to borrow money, if he wants to be credible in the literal sense (for credit). Honoring the debt service is an integral part of the credibility that allows the company to raise funds. Do not pay its debts contributes to jeopardize the whole system of intermediation without which we could finance the investment, which means to accurately assess credit applicants. For the same reason that the listed company should also pay dividends if it wants to keep the confidence of its shareholders, without which it could increase its capital. Officials must receive treatment that reflects their ability to operate a public service without which the market economy could not operate (including services related to security, peace and justice to guarantee the proper functioning of the rule of law ). Insofar as the financing of these treatments is through taxation, public service efficiency is a prerequisite for a fair and efficient tax. In the opposite case, economic agents will be subject to levies while increasing risk of facing public services inadequate or ineffective.
Finally, without adequate profits, no entrepreneur would embark on this process highly risky combination and recombination factors. This process of allocation of factors within the productive organization is efficient yet at the heart of the functioning of the economy.

A key question remains: Is the legislature in a position to fix wages, control the profits of regulated interest rates or dividends without jeopardizing the economic equilibrium which emerges necessarily the formation of all forms of income?

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The last weekend (17 and 18/10/2009) was appropriate exercise interdepartmental emergency Caving organized by our friends Aude on the town of Missègre . The cavity is chosen adventure Yves, very recent discovery of SCA. The scenario is a victim at the bottom of the cavity to approximately 125m and a second with only a broken arm to midterm .

The cavers are not very many but the teams are more than motivated. The proof is that the stretcher came out of the cavity in the time after the passage of two beautiful Tyrolean and many workshops.

The balance sheet is ultimately very positive and shows once again the ability of emergency sections of 11 and 66 to work together.

I'll see you on 7 and 8 November for the barnum of 66 to be held at Cthulhu Demon on the town of Caudiès de Fenouillèdes (time and venue will be communicated early in the week).

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Liberal Conspiracy

The critics of the single thought do not they make that they are precisely the agents and promoters of that single thought? Whether columnists, humorists, journalists, political scientists, government experts, they are everywhere, on all TV sets on the airwaves and distill continuously thinking and conformist that is agreed to recite the verses of liberalism . Believing himself and sassy originals, they conform in fact all the same mold. They think they go overboard and play perfectly the role of guardian of thinking consistent. For the conformist is anti-liberal.

In academia, it is even more glaring. In particular, a recurring debate is to denounce the outrageous formalization of economics by treating it as a sign of the hegemony of the "ultra-liberal thinking." It is a singular traits of conformist thinking that seeing a "liberal conspiracy" everywhere, especially hidden in the equations macroeconomic models. Mathematics would be the trojan horse of the great satan liberal.
Yet the need for measurement, formalization and abstraction of economics is largely the result of planning and willingness to experiment with economic policies and regulations. To predict and assess the tax revenues related to the adoption of a new tax, it is still necessary to have a macroeconomic model based on very specific assumptions. Those who model always claim, if not vanity, to control economic and social phenomena. And they will even attack the real people if they do not behave like their equations would have expected. See how the political power attacks the restaurateurs who have not played the game of pass the VAT reduction in the price menus because the models were probably intended such an effect. But a researcher does not construct a model based on the results he wants, he needs to formalize a reality which is external and beyond his control.

All current research program of the "new microeconomics" is to establish that it is not optimal to leave individuals free to make decisions based on their private interests. And any formalization is oriented in this direction. One researcher who tried take an opposite direction would find more funding or laboratory.
Yet, we are at the limit of scientism as the intention is contained in the assumptions: exit the invisible hand. Moreover, the Nobel laureate Joseph Stiglitz, if that famous invisible hand, it probably does not exist! If physicists reasoned that, then waves and black holes do not exist.
modern economics textbooks are "market failures" as assumptions that can not be questioned, and who make public policy as indispensable as providential. Because it is well known that the prosecution is not under any of these shortcomings inherent in the private action ... And the economist who take the risk to pretend otherwise can no longer claim a career.

The "new trade theory part of this momentum similar to demonstrate that we can not trust the free exchange of international trade to obtain harmonious. It has indeed escaped anyone that collective bargaining under the auspices of the WTO, who see the clash national corporatism the risk of degenerating into economic war simmering, is a model of international harmony. Recall that the WTO is the result of a transformation of the GATT GATT But the missions were clear: it was lowering tariffs - which was performed primarily in industry - to streamline the international trade . The WTO claims to "regulate" commerce among nations by imposing quality standards (environmental, social, health) that conjures the temptations of protectionism. But the definition of such standards is much more problematic and generalization is seen by less developed countries as disguised protectionism implemented by developed countries.

Similarly, the "new labor economics" shows that unemployment is not the result of interference with free market operations. Theorists then invented the concept of "unemployment equilibrium" unemployment that results from the interplay of decisions of rational agents. It follows that it is not "optimal" for the community of rational individuals agree to let around a freely negotiated contract work under these imperfections competitive leading to generate structural unemployment. Again, collective bargaining framed by the social partners - who have only one motto: the general strike - is probably a model that allows us to avoid unemployment due to market forces and it will not have escaped anyone that "social dialogue" in French is a model of communal harmony. Finally, the "new growth theory" is based on dynamic models of so-called "endogenous growth" that make the state a "benevolent planner" essential to the regulation overall.

These examples show that, far from attending a hegemony of liberal thought in academic circles, is a revival of interventionist designs - redecorated under the veneer of microfoundations scholars and good feelings - that we have been witnessing over 25 years. And the latest Nobel Prize in economics (Stiglitz, Krugman, Williamson and Ostrom) confirm this trend. In this context it is somewhat comical to talk about liberalism triumphant. Liberalism declined - and his enemies rejoice - probably because men are no longer up to the demanding that it values. The "useful idiots" tell us that capitalism does not obey any value or morality. In fact, the economy no longer works when men forget the values that an economy of freedom and responsibility involved.

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Intelligence

The CIA director once said during a conference: "intelligence is the oldest profession in the world." Someone in the audience retorted: "No, it's prostitution! . Then he replied: "You're right, but still need to know where prostitutes! .

For millennia, kings, queens, emperors and generals have sought to develop effective communications for governing their country or control their armies. At the same time, they were aware of the risks involved if their messages fell into enemy hands. It is the fear of those interceptions was behind the development of codes and numbers, which are techniques used to disguise a message in order to scramble the senses. We are indebted to Julius Caesar's famous figure that bears his name.

Confidentiality concerns led nations to create secret service, responsible for ensuring the security of communications by inventing and implementing the best possible codes. Meanwhile, the decoders enemy fought hard to break the codes. These activities have given rise to the "intelligence services". It is remarkable that the age-old confrontation between developers on one side and code breakers code on the other side has nourished a great advances in science (including mathematics) and technology. In this field too often the competition and even confrontation, constitutes a powerful stimulus to creativity and innovation. The outcome of World War II held at the Allied secret services' ability to break the encryption system Nazi (based on the use of the machine "Enigma", probably the first electromechanical machine to encode).

Business intelligence has a military origin. The military intelligence was very early based on the technique of encryption . Encryption is the only way to protect our privacy, or ensure the success of today's electronic markets. But growing demand and legitimate the public about encryption - protecting privacy - faces the need to enforce laws and protect national security. The debate about banking secrecy illustrates this. Banking secrecy is a legitimate aspiration of account holders (nobody likes that one delves into his accounts in the name of transparency) and a basic service offered by the bank to its customers in the same way that medical confidentiality is thereby creating a relationship of trust between doctor and patient. But secrecy can also cover criminal activities against which states have the duty to fight.

For decades, police and intelligence services have used plays to thwart the plans of terrorists or fighting against organized crime, mobilizing techniques increasingly sophisticated in which the state had a monopoly. But the men of power can invoke reasons of state to practice plays well illegitimate and divert these tools for personal purposes. That is why the defenders of individual rights to push the widespread use of encryption to protect the privacy of our private lives. Similarly, companies (including banks) are calling for a secure encryption for development their own information networks and to protect their sensitive information. Thus, private actors can freely dispose of the tools previously reserved for only the secret services.
For their part, the police put pressure on governments to restrict the private use of coding. On behalf of the fight against the laundering of dirty money or fraud (escape?) Tax, the tax authorities defend similar arguments.
There is always a difficult choice: what do we attribute the highest value, respect for our privacy policy or a (security) more effective? We find the more fundamental dilemma between liberty and security remains a precarious balance.

Members consider that the First World War was the war of chemists, because the mustard gas and chlorine were employed there for the first time. Similarly, the Second World War was that of physicists, because of last resort to the atomic bomb. Should there be a third world war, it would be war mathematicians, since they will control the next decisive weapon of war: information. In any case, it is already the argument economic competition and the instrument of economic intelligence.

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And man in all this? The dictatorship of the market

as the economy tries to open his mouth, he invariably refers to the figure " and man in all this! "or" you evacuate human dimension. " This argument is so systematic that it can not even take the time to listen to the economist.

While modern economic theory has taken a totally formalized, we must not forget that she is a human science par excellence. Moreover, the mathematical language is peculiar to man (and he soaks the various disciplines such as architecture, music, painting or physics). However, the object of study of economics can not be a disembodied atom.
The economy looks to man, particularly taking into account what is most fundamental in the human condition: self-awareness (rationale, decision, learning), the ability to innovate and create ( is almost unique in the living world) and finally ownership: the feeling of having a legitimate the fruits of his labor . Any social or political organization that does not take account of these dimensions, or taking risks to neutralize them, becomes totalitarian, and therefore literally inhuman.

Self-awareness involves the awareness of his own mortality . We realize that our time is limited, so we must make choices. Hence the division of labor that involves the exchange (which requires man to live in society). From this awareness comes the scarcity and hence value, and prices. Prices are only translate into figures the fact that we must make choices (what price) which leads to prioritize. In this sense, money is time (and not vice versa). Purchasing power is the power to buy other people's time, because I can not do everything alone (except to significantly reduce my standard of living). Because I just did not have enough time before me.

Self-consciousness also implies the rationality . It is a human characteristic of choice. The spider spins its web in obedience to a genetic program. The moth falls into the fire, the other follows the butterfly and falls blindly. Man does knows nothing a priori, if not learn. If he puts his finger in the fire, it burns itself and therefore removing information: it is learning. He invented a torch. It is by learning that the man pre-acquired mastery of language, tools, agriculture, hunting, he became homo sapiens.

Man is a creator, an innovator. The spider weaves always the same canvas for millions of years. Man learns constantly and learning, he is constantly innovating. The first man has to feel very vulnerable, although handicapped face the ferocity of wild beasts, speed antelope or the power of mammoths. It's a handicap that has pushed to innovate. Man is the only to have this ability, which allows him to learn to adapt, turning a handicap into innovation. Economic theory by becoming a growth theory ( The Wealth of Nations, the seminal work of Adam Smith), focusing on the dynamics of the economy, put innovation at the heart of his analysis . For never forget that this is not poverty to be explained (poverty is the natural state is required to man), but the wealth that is against nature, which is exceptional (and you can lose if we no longer understand how the economy).

Finally, the ownership is linked to self-consciousness . The man spontaneously felt he was the owner of the legitimate fruits of his labor. Starting in the hunt in search of food, the man put his life at stake, it could itself become the most dangerous game predator.
Thus, when he returned safely with the game, he had paid for taking the risk (the price of risk and sweat). Ownership follows from the energy expended in the work and the risk involved on this occasion. This sense of self and property is a natural element that greatly determines the choices and behaviors of individuals. Thus, the political systems that respect and protect property rights encourages people to produce wealth. Of course, to protect property, we need a suitable legal and institutional environment (contract, justice, police), and therefore a certain environment in terms of public goods. To finance this public good, we must raise taxes to some extent. These taxes will just and legitimate to the extent they are able to finance an apparatus for protecting the fruits of labor. They will be felt by cons as a theft from the time the taxes plunder the fruits of the work themselves .

In this sense, the property is intimately linked to freedom . Insofar as the slave does not belong to himself, the fruits of his work does not belong to him. It is degraded to the condition of a free man. But man is by nature a free insofar as his choices will greatly dictate his life. Animals act by instinct, men must make choices. In countries fully collectivized, where private ownership is not allowed, people are freed from the burden and responsibility of having to make choices: because they no longer control their lives. They are no longer free. It is characteristic of totalitarian societies where the economy is completely planned and controlled by the state or the ruling Communist Party. But these companies face a yearning, rooted in the heart of the human condition: human beings can not live without freedom, and thus of self-ownership and therefore ownership of the fruits of his labor.

Hence the central idea of a constitution in a free country: protecting the individual risk of abuse of power by the state. Protect democracy from itself: after all, Hitler came to power democratically . However, the majority rule is a dangerous law that must carefully confine the application (it is up to the Constitution to establish the rules of the game). One can not generalize democracy in the enterprise, university, or in families without at the same time spread chaos. It is that reflection on property rights, incentives, market signals, the boundary between public goods and private goods is a key aspect of economic theory .
We see that man in his highest aspirations, but also sometimes the most contradictory, is at the heart of economic thinking. Must still take the trouble to understand the full scope of his teachings.