Reviews - What do customers think about The Transfer Society: Economic Expenditures on Transfer Activity?
Exposing the Hidden Costs of Legal Plunder and Socialism Aug 31, 2004
Leband and McClintock surmise in their research that there is much more to U.S. economic activity than the producing of goods and services, and that group and individuals spend an enormous amount trying to appropriate the wealth of others (and conversely preventing that appropriation.) The employment of one's resources in such activity may be privately rational but social costly, because of the forgone opportunity to utilize such resources to create new good and services.
The authors recognize that measured gross domestic product often overstates productive economic activity: for the reason that expenditures on accountants, lawyers, security, and other economic resources in the wealth distribution process. These goods and services do not lead to production of goods and services that enhance the welfare of the nation's populace. The corrupted tort system, which was devised to recompense individuals and corporation for injuries is awash in frivolous claims and is itself a substantial part of the problem posed by the transfer society. Social Security represents a massive intergenerational wealth transfer scheme. All these things coupled with political influence peddling and so called corporate welfare represent the so called transfer society.
The cost to society of wealth redistribution and legal plunder is an often neglected area in the study of political economy. The social costs of coerced transfers whether realized or threatened is enormous and a substantial amount of the GDP. Restrictions aimed at curtailing campaign contributions and restricting lobbying have proven vain, and the clear implication is that political influence itself most be reduced.
The Transfer Society is a succinct little matter-of-fact economics text and in my opinion could be developed into a more thorough economic treatise. For having the research underdeveloped, I cannot rate it too highly. Nonetheless, it does a profound job at confronting the reality of coercive wealth redistribution in the U.S. The country has gone quasi-socialist and in desperate need of depoliticizing and liberalizing its economy.
In depth study Feb 14, 2004
This book is not all that hard to understand. In simple terms, Laband and McClintock tell us that we waste a lot of money trying to avoid someone else wasting our money. It's not this fact that puts the reader so off guard. The fact that our society spends about four hundred billion dollars trying to influence two trillion dollars in government expenditures (about twenty percent of the total) shows what an inefficient mess our economy has become. This fact of wasted wealth should shock the reader. I couldn't believe it at first. The amount of research used is impressive and definitive. Though Laband and McClintock don't offer any serious solutions to the drain on the economy, this volume helps shape the continuing debate about wealth transfer.
Coercion Costs! Sep 24, 2003
When the government robs Peter in order to pay Paul, they have to pay for the entire process of robbing: constructing laws, buying the guns, hiring more bureaucrats, etc. In other words, when government spends funds to redistribute income, they divert resources that could be used on more productive activities.
"The Transfer Society" is a slim but marvelous study on how much the government spends each year on enforcing the coercive transfer of money from one party to another. You may think that these forced transfers do not cost very much money -- and if one takes each transfer at a time, he may be right. But taken as a whole, multiplied by the government's long reaching tenacles, they estimate that the government spends $400B redistributing.
But if that was not enough, Laband and McClintock go on to demosntrate that this projected $400B is in reality an understatement; they cannot estimate the preemptive measures taken by individuals to protect their property from the government. For example, if the government used eminent domain to seize somebody's land, L&M's model would not account for the costs of one hiring a lawyer to protect himself from coercive government. Forced transfers, thus, waste a staggering amount of money that would be better used in productive activity.
This book is a timely economic complement to the moral argument against forced expropriation. The magnitude of the problem is exposed so convincingly that it should become a focus of attention for quite some time.
A refreshingly different perspective on new wealth Jan 9, 2002
How much time, money and resources have been allotted to influence how wealth is distributed in this country? Over $2,000 year for every individual, according to this title. The figure doesn't represent the amount transferred, but the amount spent on influencing transfers. Transfer Society provides a refreshingly different perspective on new wealth and the process of distributing wealth within the government and private sectors. Intriguing and different.