“For too long our leaders have failed us, taking us into one regime change war after the next, leading us into a new Cold War and arms race, costing us trillions of our hard-earned tax payer dollars and countless lives. This insanity must end.”
Reported by Pat Buchanan
more from Buchanan
Nope. That denunciation of John Bolton interventionism came from Congresswoman Tulsi Gabbard of Hawaii during Wednesday night’s Democratic debate. At 38, she was the youngest candidate on stage.
Gabbard proceeded to rip both the “president and his chickenhawk cabinet (who) have led us to the brink of war with Iran.”
In a fiery exchange, Congressman Tim Ryan of Ohio countered that America cannot disengage from Afghanistan: “When we weren’t in there they started flying planes into our buildings.”
When third parties object, land use issues are decided by those who have the most political power. Emotion or corruption often win the day.
Some predict that environmental disaster will occur, and believe that such predictions should allow the veto of other people’s property rights. Others think economic development should be encouraged, and the benefits outweigh the risks.
A free market solution following a process similar to the following is proposed:
If it is highly unlikely that these damages would occur, then the cost of the bond would be low, and the project will be economically feasible. Otherwise the cost of the bond would be so excessive that the project would not be economically feasible.
For example, the market value of all property in Lee County Florida is about $160 billion. The market value of the lives of people in Lee County can be determined by the amount of life insurance purchased by approximately 750,000 Lee County residents to cover death due to development disasters. For discussion purposes, assume each resident has a million dollar policy, with a total exposure of $750 billion.
If it is possible that a proposed project would make all of Lee County worthless, and kill everyone in the county, then the developers would have to post a bond worth more than $910 billion.
The insurance market with skin in the game would then determine how likely there will be significant damages, and price the cost of the bond accordingly. Those who want the project could make donations toward the cost of the bond to lower the developer’s cost.
Such a plan would not guarantee that the right decision will be made, but alternative politically based decisions provide no guarantee, and provide no indemnification for those who get damaged.
This article was prompted by an article distributed by the Estero Council of Community Leaders as republished on The Masters Website.