Economics & Political Systems

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

Rethinking the Property Tax

Property taxes in Pennsylvania appear locked into a long-term uptrend. In recent years, there have been huge increases in the portion of the property tax that finances county government. County officials have levied these increases to pay for the unfunded … Continue reading

The Unions of Tomorrow

During the second half of the twentieth century, union officials prospered mightily, while millions of rank-and-file union members saw their jobs vanish. Since union policy is set by the bosses, I am not optimistic for significant reforms, but since my … Continue reading

Money is Flooding the World Markets

Central banks live by a simple financial principle: Whenever economic activity stagnates or declines, they quickly lower their interest rates and expand their credits. But when business seems to improve, they hesitate and vacillate in removing the rate cuts. The … Continue reading

Something for Nothing

Guest Commentary When something is offered to us for free, we become suspicious. Internet scams, all-expense paid vacations and interest-free loans all beg the question, “Where is the catch?” Read the fine print and the true cost becomes apparent. Increasing … Continue reading

What Would Jesus Tax?

Guest Commentary Editor’s Note: This article was first published by the TCS Daily and has been reprinted with the author’s permission. “When Jesus tells us he will regard the way we treat the hungry, the homeless, the stranger, the sick, and the … Continue reading