In Friedrich Hayek’s 1954 book Capitalism and the Historians, the late French philosopher and political economist Bertrand de Jouvenel noted a baffling historical trend: “Strangely enough, the fall from favor of the money-maker coincides with an increase in his social … Continue reading
Hong Kong police arrested billionaire publisher Jimmy Lai on August 10, releasing him two days later. His “crime” was to express opposition to the mainland Chinese Communist Party’s (CCP) aggression against Hong Kong – both in person and through the … Continue reading
A recent opinion piece in The New York Times, “Tax the Rich and Their Heirs … more fairly,” was both reassuring and refreshing. It was reassuring to know that policy debates about relatively prosaic public policy issues continue to be … Continue reading
Here is an economic riddle that has been puzzling many people: Why has economic growth in the United States remained below three percent for so long? The growth of US gross domestic product (GDP) going all the way back to … Continue reading
Check out the photo. That is what I paid for gasoline last Thursday in Girard, Ohio. $1.13 for a gallon of regular is a price that I had thought I would never see again. What a bargain! And what a … Continue reading
In a report that unfortunately received a good deal of attention, MSNBC commentator Joe Scarborough asserted that today’s economy under President Trump is in worse shape than the dismal economy under President Carter in 1979. Scarborough pointed to “Jimmy Carter’s so-called year … Continue reading
“No one ever makes a billion dollars. You take a billion dollars.” That was the punchline of democratic socialist Rep. Alexandria Ocasio-Cortez in a Martin Luther King Jr. Day public interview with writer Ta-Nehisi Coates. The audience erupted into enthusiastic … Continue reading
During the week before Christmas, Congress rushed a spending bill into law. Two spending bills were introduced that Monday, a flurry of political horse-trading ensued, numerous pork-barrel favors were hastily added, and–presto–by Friday Congress had approved $1.4 trillion in discretionary … Continue reading
Amidst this season of gift-giving and merry-making, let’s ponder three remarkable aspects of the nativity of the baby Jesus two millennia ago. #1. Birth to a virgin. To atheistic materialism, this seems like a fairy tale. Spiritually, though, what could … Continue reading
Among the many radical economic plans offered by various Democratic presidential candidates, Senators Bernie Sanders and Elizabeth Warren have proposed an annual wealth tax on billionaires (and other “ultra-rich” Americans). Sanders has bluntly stated, “There should be no billionaires.” These … Continue reading
U.S. Senator Ron Johnson (R-WI) is promoting the “Prevent Government Shutdown Act of 2019.” The goal of the act is to prevent disruptive government shutdowns. Since Sen. Johnson arrived in Washington in 2011, partisan congressional standoffs have led to “three … Continue reading
President Donald Trump has had (what else?) a publicly tempestuous relationship with the Federal Reserve System. Fed Chairman Jerome Powell has adhered to the Fed’s official traditional position of being apolitical. Typical of Powell’s statements is the unequivocal assertion, “Political considerations … Continue reading
I feel badly for the people of the United Kingdom. Brexit – the move to withdraw the UK from the European Union – has left the United Kingdom anything but united. Even families are being ripped apart. The most notable … Continue reading
On July 22, President Donald Trump and House Speaker Nancy Pelosi announced a two-year budget deal that suspends the debt ceiling, and will raise federal spending $320 billion over amounts agreed to during the Obama years. The agreement was unusual … Continue reading
The “hook” of the story intrigued me: “This hasn’t happened in all of modern history…” An email from “The Crux” last month blared, “Global population growth to virtually stop by 2100.” According to a Pew Research Center analysis, “the world’s … Continue reading
This will sound like the start of a bad joke, but please bear with me: What do Everett Dirksen, Otto von Bismarck, H.L. Mencken, and “the Preacher” in the book of Ecclesiastes have in common? Well, if you’ve been gone … Continue reading
Recently, a student came to me in a state of perplexity. His liberal friends were insisting that President Obama deserves much credit for today’s favorable economic news of higher GDP growth and lower unemployment, while his conservative friends give President … Continue reading
In case you haven’t heard of her yet, Greta Thunberg is a 16-year-old Swedish girl who has been manufactured into the new face of climate change. Credited with being the founder of the Youth Strike for Climate movement (a publicity-seeking … Continue reading
Thank you, Representative Alexandria Ocasio-Cortez. The Green New Deal (GND) she has unveiled is most illuminating. It is now unmistakably clear that AOC, Bernie Sanders, and other democrat socialists in the Democratic Party don’t want “socialism lite” but rather they … Continue reading
Pennsylvania Governor Tom Wolf has proposed raising the legal minimum wage to $12 per hour on July 1, 2019, and then an additional 50 cents per year until the minimum wage reaches $15 per hour in 2025. Laws mandating a minimum wage … Continue reading
