Economics & Political Systems

The Next Great Depression

No, I am not getting ready to join the ranks of those clever economists and financial prognosticators who periodically cop a book deal by peddling a hyped-up title that feeds our perverse appetite for scary scenarios—Financial Armageddon, Get Rich While … Continue reading

My Brother-in-Law, the Gas Hog

With the price of oil approaching $100 per barrel, my brother-in-law traded in a small SUV for a large SUV. What was he thinking? My brother-in-law is a college professor. Perhaps he should study the solutions to the high price … Continue reading

Boss’s Day Irony

Did you remember to buy a present for your boss last month on Boss’s Day? The teachers of the Susquehanna Township School District in central Pennsylvania didn’t experience the embarrassment of forgetting the chief because two of their colleagues, who … Continue reading

Are Happy Days Here Again?

Ben Bernanke, chairman of the Federal Reserve, is a better historian of economic thought than monetary theorist. In reference to the current financial turmoil he is quoted as saying that classic central-banking theory instructs us that the Fed should accommodate … Continue reading

Hans F. Sennholz, R.I.P.

The Pastor of the Holy Trinity Lutheran Church in Grove City, James Seeley, who presided over the memorial service for Hans Sennholz on June 26, 2007 took note of his outstanding qualities. He was indeed a great teacher, having instructed … Continue reading

Exchange-Rate Politics: Playing with Fire

Democratic presidential candidates Hillary Clinton and Barack Obama have thrown their support behind proposed legislation that would impose anti-dumping duties—tariffs of around 27 percent—on Chinese imports if the Chinese currency doesn’t get stronger against the dollar. This proposal—advanced by a … Continue reading