Economics

The Political Economy of Health Care

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Trouble begins the moment health care becomes a matter of government spending. From then on, unless the policy is reversed, society is on the road to state intervention in peoples most personal decisions. Its easy to see why. If government starts picking up the tab for some peoples medical services, those people will not face the full costs of those ... [click for more]

The Liberal Assault on the Poor, Part 2

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Part 1 | Part 2 When it comes to economic policy, liberals suffer from two major weaknesses. One, they believe that all that matters with respect to policy are good intentions. As long as liberals mean well, they think that the policies they implement, especially with respect to the poor, are justified. Two, they have a woeful lack of understanding of ... [click for more]

How a Rich and Proud Nation Went Broke

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Amidst a multitrillion dollar spending spree, President Obama apparently believes it’s inconceivable that a mighty nation such as the United States could go broke. Yet France, once the most powerful nation in Europe, went broke and was plunged into a revolution that consumed the king and queen. Germany was bankrupted by reparations following World War I as well as the ... [click for more]

A Lesson in the (Re)distribution of Wealth

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Through the company where I worked more than 35 years ago, I had an opportunity to meet an unusual man. I had not seen him since, but his recent obituary caught my eye. His name was Wayne Field, a name I’m sure few, if any, of you will recognize. In his 87 years he accomplished a great deal. He founded ... [click for more]

Keynes and the Assault on Savings, Part 2

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Part 1 | Part 2 The reason, I believe, that Keynes’s anti-saving, consume-more philosophy is politically popular is simple: Consumption is immediate and usually enjoyable. Saving requires self-discipline and patience. Also, the philosophy is remarkably bi-partisan. It fits in with the ideas of a massive and ever-growing welfare/warfare state. This ... [click for more]

Failure Leads to Success in the Public Sector

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We are playing out the latest chapter in the crisis and leviathan model in the financial-services business. It is a model in which public-sector failure leads to bigger government. It leads to success for socialists who want the government to expand into every aspect of our economy but dont want to overtly call for nationalization ... [click for more]

A New Stimulus? Washington Never Learns

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In Washington, the rule is: If a little poison doesn’t cure the patient, give him more. This rule is being applied not only to health care, where massive doses of government intervention are being prescribed to treat the toxicity of past government intervention. It’s also being used in the attempt to end ... [click for more]
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