{"id":110,"date":"2007-08-27T09:06:46","date_gmt":"2007-08-27T17:06:46","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=110"},"modified":"2007-08-27T09:06:46","modified_gmt":"2007-08-27T17:06:46","slug":"come-here-and-ill-rob-you","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/come-here-and-ill-rob-you\/","title":{"rendered":"“Come here, and I’ll rob you”"},"content":{"rendered":"

Actually, the quote was this<\/a>:<\/p>\n

As long as I am allowed to redistribute wealth from out-of-state companies to in-state plaintiffs, I shall continue to do so.<\/p>\n

– Chief Justice Richard Neely, West Virginia Supreme Court<\/p><\/blockquote>\n

I wonder what percentage of people in or out of WV would characterize Justice Neely’s statement as being friendly to WV’s interests? Probably a majority.<\/p>\n

On the other hand, it would be difficult for someone with economic sense to not connect the dots between:<\/p>\n

– hostility to outside capital
\n– outside investment in the state
\n– job and wealth creation in the state<\/p>\n

So, it would not be surprising to someone with economic sense that WV’s notable absence of the rule of law may somehow contribute to that state’s ranking 49th<\/a> in median household income.<\/p>\n

One of the things I teach in my class is how corporate behavior is naturally and significantly regulated by repeat transactions. If you want to keep your customers, employees, vendors, and shareholders, you better take reasonable care of them–at least as good as the next guy. It’s amazing to me how many elected officials ignore this fact of competition, as if the competition for capital weren’t real. It’s amazing until you see the incentives of the election process. Justice Neely, for instance, was elected by the citizens to whom he redistributed that wealth, and his campaigns were funded with the money from settlements that he delivered by the local lawyers who appeared in his court. Whether or not Neely believed in redistributive “justice,” it’s unlikely that the system would support someone in his position who didn’t.<\/p>\n","protected":false},"excerpt":{"rendered":"

Actually, the quote was this: As long as I am allowed to redistribute wealth from out-of-state companies to in-state plaintiffs, I shall continue to do so. – Chief Justice Richard Neely, West Virginia Supreme Court I wonder what percentage of people in or out of WV would characterize Justice Neely’s statement as being friendly to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-110","post","type-post","status-publish","format-standard","hentry","category-unintended-consequences"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=110"}],"version-history":[{"count":0,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/110\/revisions"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=110"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}