It’s easy to be overwhelmed by the bewildering array of economic data, statistics, charts, and graphs floating around. Often, we economists can’t see the forest for the trees. It’s hard to figure out what is truly significant and what is … Continue reading
Economics & Political Systems
Exchange-Rate Mythology and Weak-Dollar Nonsense
If you read the financial press or listen to what politicians say, you have probably heard many times how important it is for the Chinese renminbi (yuan) to strengthen against the dollar. Indeed, it sometimes sounds as though a weaker … Continue reading
The Meaning of Progress
EDITOR’S NOTE: The Center for Vision & Values presented a seminar in April, 2010, on the development and influence of Progressivism, focusing especially on the Radical Progressivism of Obama and his friends. The root of the term progressive is, of … Continue reading
Reservations About a Balanced Budget Amendment
Calling for a balanced budget amendment has been a staple campaign issue for conservative Republicans for years. Undeniably, our nation is beset by fearful fiscal woes. However, a balanced budget amendment isn’t the answer. Let me emphasize that I endorse … Continue reading
America Needs Union Competition
I agree with President Obama that we need more labor unions. However, I disagree with his approach. Full disclosure: I have been a dues-payer to both the United Auto Workers and the National Education Association unions. My sympathies are heavily … Continue reading
Reflections on the Deepwater Horizon Disaster
The explosion that sank British Petroleum’s Deepwater Horizon oil-drilling vessel/platform in the Gulf of Mexico in April was an unmitigated disaster. The accident killed 11 workers and has caused massive environmental damage, the full extent of which may not become … Continue reading
Social Justice, the Needy, and the Wealthy
Recently, The Center for Vision & Values at Grove City College has tackled the issue of “social justice,” with articles by Gary Smith, J. D. Wyneken, Mark Hendrickson, and Shawn Ritenour. I strongly encourage readers to forward these articles to … Continue reading
The Great Greek Bailout: Debt-Ridden America Chips In
The sovereign debt crisis—centered on Greece for the moment, but bound to spread to other heavily indebted national governments—has taken an ominous turn. The European Central Bank (ECB), the Federal Reserve, and the International Monetary Fund unveiled a trillion-dollar bailout … Continue reading
Good Cop, Bad Cop: Bipartisan Failure to Control Spending
Economic error knows no partisan bounds. Republican Herbert Hoover and Democrat Franklin Roosevelt both adopted foolish, harmful policies during the Great Depression. Republican George W. Bush’s stimulus plan made no sense, and neither did Democrat Barack Obama’s.
When Regimes Reach Insanity
On August 25, 1914, in a spate of disorder, shots rang out from the Belgian town of Louvain, instigating its German occupiers to launch a frenzy of looting and destruction. Crazed soldiers butchered civilians, ransacked buildings, and finally burned the … Continue reading
Financial Intrigue in Greece: Should We Care?
The intertwined worlds of government and finance are swirling with drama not seen since the fall of Lehman Brothers in 2008. The epicenter of the current crisis is Greece. The Aegean nation’s sovereign debt has been downgraded to “junk” status … Continue reading
A Manifesto on the “Manifesto”
I knew the time would come. America’s public schools and ideologically monolithic universities have spawned a generation woefully uninformed in the most elementary facts about free markets, socialism, and communism. Personally, after teaching this material for years, I’m getting an … Continue reading
Sen. Dodd’s Financial Reform Bill: The Problem of Leverage
Trying to keep up with all the changes in U.S. Sen. Chris Dodd’s (D-Conn.) financial reform bill has been a daunting task. Two weeks ago, it was described in the press as “the 1100-page bill.” Last week, it became “the … Continue reading
Rendell and Marcellus Shale—Taxing the “Golden Goose”
Imagine that you are governor of the state of Pennsylvania, and private enterprisers discover a new, clean source of fuel within the state’s borders, a source which would help reduce the costs of energy, provide jobs for companies and workers, yield additional tax revenues … Continue reading
The Great American Debt “Roll”
Financial markets function to discount the future. Usually, by the time you read about something in the newspaper, financial market pricing has already “discounted” that event weeks, months, or perhaps even years before it hits the front page and becomes … Continue reading
VAT Talk No Surprise: The Progressive Source Behind VAT
As soon as healthcare reform passed through Congress, talk about how to pay for it began immediately. Fox News commentator Charles Krauthammer said that he thought President Obama would propose a VAT (value-added tax) after the fall elections. The pretense … Continue reading
The VAT-Man Cometh?
Recently, progressives have made noise about introducing a value-added tax (VAT) in the United States. The VAT is an indirect tax—that is, Americans wouldn’t pay the tax directly to government, but would pay it to businesses as part of the … Continue reading
Buchenwald and the Totalitarian Century
Editor’s note: A longer version of this article first appeared at The American Spectator at the original time of publication. This spring 2010 marks some sordid anniversaries: 65 years since the discovery of the Nazi concentration camps that facilitated the … Continue reading
God Gets His Healthcare Bill
The most frustrating thing I’ve dealt with in professional life was eight years of outrageous, baseless charges against President George W. Bush on matters of faith. Even when Bush was simply asked about his faith, and responded with utterly benign … Continue reading
V&V Q&A: God, Socialism, and the Free Market
Editor’s Note: The “V&V Q&A” is an e-publication from The Center for Vision & Values at Grove City College. This latest edition of “V&V Q&A” is an intriguing look at the biblical basis for the free-market economy, dispelling the popular notion among … Continue reading