The President’s Council of Economic Advisers (CEA) has released its most recent quarterly report on the effects of President Obama’s stimulus plan. Not surprisingly, the CEA praises this monumental Keynesian scheme, crediting the stimulus for saving or creating 3.6 million … Continue reading
The grand lesson of the 20th century is that Big Government retards economic progress. The evidence of this lesson goes beyond the socialist countries and their dramatic economic failures.
In most, if not all, states, pupils must pass a course in American history to receive a high-school diploma. Unfortunately, when it comes to our country’s economic history, most students are poorly taught, perhaps wrongly taught. Mythology and error prevail … Continue reading
I’ve never participated in a Tea Party rally. My natural habitat is a classroom or behind a keyboard. That said, I’ve had a lot of contact with Tea Party people, and, of course, I hear the angry charges from those … Continue reading
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
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
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
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
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
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
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 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
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.
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
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
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
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
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
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
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
