04/16/2018

Northwest States Do Best, Southeast Worst In New Social Capital Measure

Charles Fain Lehman, The Washington Free Beacon

new index, released earlier this week, tracks social capital in America, showing the distribution of the nation's togetherness in a time when many worry it is coming apart.

The index is a product of the Social Capital Project, the work of Senator Mike Lee (R., Utah) and the Congressional Joint Economic Committee. The SCP is focused on measuring the decline in social capital, the measure of how tightly tied to communities and to one another Americans are.

The SCP's latest project is meant to capture how social capital is spread throughout the United States, and where it's strongest and weakest. This work adds to previous indexes produced by researchers at Penn State University and by noted social scientist Robert Putnam. The SCP argues that these past efforts rely on out-of-date data, or under-include certain indicators.

"Our conclusion was that a better social capital index was needed than those currently available," the report reads.

To measure social capital, the project aggregated numerous publicly available statistics on America's states and counties. These included measures of family, like time spent together and out-of-wedlock births (on which the SCP has reported previously); measures of social support, like the average number of friends adults have; and measure of community and institutional health, like volunteer hours and voting habits.

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4,000 Years Of Price Control

Tablets, said to be 200 years older than the Babylonian Code of Hammurabi ... show that the ancient kingdom of Eshnunna had wage control and price control. The news ought not to have come as a surprise. For the code of Hammurabi itself (unearthed in 1902), which was promulgated earlier than 2000 B.C., fixed prices, wages, interest rates, and fees. This makes price control at least about 4,000 years old. ...

 

Ironically, it is those who now wish to return to this ancient totalitarian device who are fondest of calling themselves “progressives.” They are also fond of saying that those who believe in economic liberty “are living in the nineteenth century.” These controlists have yet to learn that they themselves are still living, as the discoveries in Babylonia attest, in the nineteenth century—B.C.!

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