Some people I know react with incredulity when they hear television commentators remark on President Barack Obama’s brilliance. “How can he say that?” they expostulate. “He doesn’t understand basic economics, and he relies on a teleprompter even during news conferences. … Continue reading
Economic historian Burton Folsom’s “New Deal or Raw Deal?” is a truly important book. Thoroughly researched, well organized and fluently written, this reader-friendly study of President Franklin Roosevelt’s New Deal is “the real deal”—a fascinating, illuminating study of the politics … Continue reading
President Obama says the economy is the worst since the Great Depression. Actually, it is the worst since the Reagan recession of 1982-83. Further, the 2009 market crash is not the worst since 1929 but since 1987—also on Ronald Reagan’s … Continue reading
One of the favorite refrains of the class-warfare left has long been to lament what it perceives as a division in America between economic haves and have-nots. From the standpoint of egalitarian, socialistic philosophy, the fact that some Americans prosper … Continue reading
The Bush administration subjected us to a deluge of fiscal and monetary expansion, the likes of which we haven’t seen since the 1960s. The federal budget ballooned 112 percent from $1.86 trillion in 2001 to a projected $3.94 trillion in … Continue reading
For well over a century, socialists, progressives, and even many Christians have railed against the capitalist exploitation of workers. They denounce capitalists—whether the Carnegies and Fricks of yesteryear or the Nikes of today—for paying low wages for hard work. Their … Continue reading
Newsflash, March 20, 2009: The Congressional Budget Office today forecast a U.S. budget deficit of $1.8 trillion for this year. For many Americans, including some Democrats, there’s tremendous frustration over President Obama’s economic policies. Worse, they know that a huge … Continue reading
A raw nerve was struck this week. Reports that employees of the insurance giant AIG—the recipient of four federal bailouts totaling more than $170 billion—were now receiving $165 million in bonuses, caused an explosion of public anger, even bloodthirsty rage. … Continue reading
The British economist John Maynard Keynes (1883-1946) turns out to have been something of a prophet. He once wrote that “practical men,” as opposed to theoreticians, “are usually the slaves of some defunct economist.” Ironically, the defunct economist who is … Continue reading
The U.S. Treasury recently released its “2008 Financial Report of the United States Government.” In case you had any doubts, our government’s finances are in a terrible mess. According to the report, under generally accepted accounting principles (the ones that … Continue reading
When my friend Paul Kengor, the executive director of The Center for Vision & Values here at Grove City College, asked me what three books I would recommend to students if they wanted to broaden their economic education, my answer … Continue reading
My wife and I tag-team to get our four kids ready for school in the morning. She manages the lunch-packing process and I make a hot breakfast. Rarely does a lively morning pass that I don’t gaze upon my children … Continue reading
Ready for some political and economic rock and roll? It’s happening. In 2008, Americans were rocked by the beginnings of a deflationary credit collapse and Uncle Sam’s extraordinary bailout/nationalization agenda. In 2009, Americans will be rolled. If you think 2008 … Continue reading
Speaker of the House Nancy Pelosi (D-CA) recently provided a stark illustration of the fundamentally divergent worldviews of big-government liberalism and free-market conservatism. She told ABC’s George Stephanopoulus of the intention of her and House Democrats to include hundreds of … Continue reading
What would you think if you heard a prominent physician being interviewed and the topic of discussion was the breakout of a serious epidemic, and then the physician started enthusing about how great this plague would be for his business? … Continue reading
Editor’s Note: The “V&V Q&A” is an e-publication from The Center for Vision & Values at Grove City College. Each issue will present an interview with an intriguing thinker or opinion-maker that we hope will prove illuminating to readers everywhere. … Continue reading
Editor’s Note: The “V&V Q&A” is an e-publication from The Center for Vision & Values at Grove City College. Each issue will present an interview with an intriguing thinker or opinion-maker that we hope will prove illuminating to readers everywhere. In … Continue reading
Editor’s Note: The “V&V Q&A” is an e-publication from The Center for Vision & Values at Grove City College. Each issue will present an interview with an intriguing thinker or opinion-maker that we hope will prove illuminating to readers everywhere. In … Continue reading
President-elect Obama is considering an economic stimulus package that will include increases in government spending and tax cuts of approximately one trillion dollars. Many fear a prolonged depression resulting from a sharp reduction in consumer spending. After saving very little … Continue reading
Could 2009 be the year the United States of America starts to go subprime? Just as subprime mortgages wrecked the economy in 2008, 2009 might be the year we begin to see problems associated with the debt that funds our … Continue reading
