Economics

Debt and Financial Repression

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Despite all the Sturm und Drang surrounding this summer’s debate concerning the debt limit, there was never any doubt that Congress would vote to increase it. It was all political theater because there was never the political will on Capitol Hill to impose the kind of spending cuts that would have been necessary had it not been raised. So the ... [click for more]

Paul Krugman and Military Keynesianism

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The Princeton economist Paul Krugman recently appeared on CNN’s GPS hosted by Fareed Zakaria and offered up this pearl of economic wisdom: It’s very hard to get inflation in a depressed economy. But if you had a program of government spending plus an expansionary policy by the Fed, you could get that. So, if you think about using all of ... [click for more]

The Continuing Economic Depression, Part 2

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Part 1 | Part 2 Contrary to popular belief, economic downturns in a free-market economy do not linger or continue for many years. The Great Depression was “great” because government policies made sure that the calamity became ingrained in American life for a decade. One can only hope that the present economic difficulties in the United States will not ... [click for more]

Immigration Statism vs. Economic Liberty

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The Supreme Court has upheld an Arizona law that imposes harsh penalties on employers who knowingly hire illegal aliens. The penalty of violating the law entails the suspension of a firm’s business license. The law requires state companies to verify that employees are legal by using a federal database. Oh, for the days of substantive due process! That was the ... [click for more]

Debt-Ceiling Fraud

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The federal government has now reached its $14.3 trillion debt limit, even though Treasury Secretary Timothy Geithner is buying the government a couple of more weeks through some clever financial finagling. That means that the federal government cannot legally add any more debt to that $14.3 trillion. That’s the maximum. That’s what they said would be the maximum the ... [click for more]

The Continuing Economic Depression, Part 1

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Part 1 | Part 2 More than three years ago, it became clear that the housing bubble was about to burst, and that the U.S. economy would be in for a very rough patch. In the three years since the collapse of the financial entities behind the mortgage boom, we have seen the U.S. government spend trillions of dollars ... [click for more]

Not Even the Sky Is the Limit

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The scheduled launch of the Space Shuttle Endeavour last month was supposed to be notable, not just because it was to be the last launch of this particular shuttle, but because of two special guests who traveled to the Space Center to witness the now-delayed launch. President Obama traveled to Florida for the launch, as did Gabrielle Giffords, the member ... [click for more]

The Debt-Ceiling Charade

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With respect to the debt ceiling, let me issue an easy prediction: The Republicans are going to cave. They are going to vote to raise the debt ceiling. Oh sure, there will be plenty of posturing. There will be expressions of anger and outrage over out-of-control federal spending, borrowing, and debt. There will be strategic political posturing, including threats ... [click for more]

Rehabilitating Lochner: Defending Individual Rights Against Progressive Reform (video)

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On February 7, 2011, David E. Bernstien gave the following speech at The Future of Freedom Foundation’s “Economic Liberty Lecture Series.” The speech can viewed below in its entirety. David E. Bernstein is Foundation Professor at the George Mason University School of Law in Arlington, Virginia, where he has been teaching since 1995. He was a Visiting Professor at ... [click for more]

The Physiocrats

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The Physiocrats, a group of 18th-century French economists, are often credited with founding Western political economy — the study of “laws” governing the production and distribution of wealth. The word “law” is not used in a legal sense. Rather it refers to a principle or governing rule, much as one might speak of the laws of physics. The Greek word ... [click for more]

Obamanomics: Growing the Pie or Dividing the Pie? (Video)

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On November 15, 2010, Jeffrey A. Miron gave the following speech at The Future of Freedom Foundations Economic Liberty Lecture Series. The speech can viewed below in its entirety. Jeffrey A. Miron is Senior Lecturer and Director of Undergraduate Studies in the Department of Economics at Harvard University and a Senior Fellow at the Cato Institute. Miron has previously ... [click for more]

Liberty, Legislation, and Law (video)

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On October 4, 2010, Donald J. Boudreaux gave the following speech at The Future of Freedom Foundations Economic Liberty Lecture Series. The speech can viewed below in its entirety. Professor Donald J. Boudreaux was the Chairman of the Department of Economics at George Mason University in Fairfax, Virginia, from August 2001 to August 2009. Previously, he was president of ... [click for more]
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