Economics

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]

Economic Stimulus Nonsense

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When times are great — maybe especially when times are great — most people don’t think about economics. At least, if there’s any thinking going on at all, it’s not exactly clear-headed thinking. But when times take a turn for the worse, people forget about making any kind of sense at all. It would be far better if they ... [click for more]

The Unemployment Racket

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Americans have many options when it comes to insurance. They can freely get health insurance, life insurance, cancer insurance, dental insurance, disability insurance, homeowners’ insurance, renters’ insurance, parcel-shipping insurance, et cetera. Although auto insurance is required by state laws, it is still obtained from a private insurance company of one’s choosing. One can even get insurance at the blackjack ... [click for more]
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