by Jacob G. Hornberger
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]
by Jacob G. Hornberger
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]
by William L. Anderson
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]
by Laurence M. Vance
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]
by Jacob G. Hornberger
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]
by David E. Bernstein
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]
by Wendy McElroy
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]
by Jeffrey A. Miron
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]
by Don Boudreaux
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]
by Sheldon Richman
Many bad ideas go under the rubric “Keynesian economics,” but perhaps the worst is that government spending — no matter what kind — can genuinely stimulate of an economy and increase the general welfare.
To see how ridiculous this idea is, have a look at what the leading Progressive Keynesian, Paul Krugman, and leading conservative Keynesian, Martin Feldstein, agree on: ... [click for more]
by George Leef
Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts
by Hunter Lewis (Axios Press, 2010); 384 pages.
In the wake of the bursting of the housing bubble and the resulting financial collapse, many politicians and high-profile economists (such as Nobel winner and New York Times columnist Paul Krugman) have missed no opportunity to push ... [click for more]
by James Bovard
Politicians now pretend that government spending can solve any and all ills. Sloshing out federal funds for local summer job programs exemplifies this delusion.
Uncle Sam first began bank-rolling summer jobs for urban teens in 1964. It was decided that government should hire any low-income teen who couldn’t find a job on his own. Soon, with the usual bureaucratic imperialism, ... [click for more]