March 2008 may go down as a major turning point in U.S. financial history. The Federal Reserve crossed a Rubicon of sorts, lending tens of billions of dollars, not to a commercial bank, as has been its historical practice, but … Continue reading
Precarious. Ominous. Dismal. Woeful. Vulnerable. Perilous. These are just a few of the adjectives that describe the current condition of the United State’s financial markets. The crisis that I wrote about in this column last Dec. 27 has continued to … Continue reading
Senator Barack Obama, the eminently likable possible Democratic nominee for president, has sponsored a “Global Poverty Act” that would require the United States to increase foreign aid by approximately $65 billion per year. If the Senate passes this bill, it … 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: “What role should companies play in modern society?” As Dr. Andrew W. Markley notes, “The issue has received increased attention in recent years due to several factors, including the process of economic globalization, government deregulation of economic activity, corporate … Continue reading
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
The dreaded “R” word—recession—is in on the tip of many tongues right now. Are we in a recession? Far be it from me to trespass on the sacred territory of the official keepers of economic data in Washington—those who officially … Continue reading
Gold has opened 2008 with a bang. The price of the yellow metal has soared to all-time nominal highs, surpassing $900 per ounce. “So what?” you may ask. “Unless one works for a mining company or a jeweler, gold is … Continue reading
The U.S. housing market is hurting, as you undoubtedly know. Home foreclosures are the highest since record-keeping began 35 years ago. 1.69 percent of all outstanding mortgage loans have entered the foreclosure process. The median price of an American house … Continue reading
There are those who say that the housing market is just one segment of our overall economy and bad loans are just a fraction of the housing market, so there is nothing to worry about. This viewpoint is wrong, because … Continue reading
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
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
Editor’s Note: The “V&V Q&A” is an e-publication from the Center for Vision & Values at Grove City Collge. 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
Editor’s Note: Reflecting the breadth and depth of top-notch scholarship being pursued by the faculty of Grove City College, The Center for Vision & Values is pleased to release the fifth in a series of exclusive monthly papers being offered through … Continue reading
Last week, the United Auto Workers union (UAW) called its first strike against General Motors (GM) in thirty-seven years. The strike was over in two days when negotiators approved a new contract between the two parties. The settlement avoids a … Continue reading
Protectionists claim that free trade is bad for America—that increasing imports of goods means increasing exports of jobs, thereby gutting our economy. This notion could only be valid in a zero-sum world with a fixed number of jobs, where one … Continue reading
The case for free trade rests on a simple principle: people should be free to buy from whomever they choose, even if the supplier is a foreigner. The opponents of free trade believe that there are legitimate exceptions to this … Continue reading
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
Editor’s Note: Reflecting the breadth and depth of top-notch scholarship being pursued by the faculty of Grove City College, the Center for Vision & Values is pleased to release the fourth in a series of exclusive monthly white papers being offered … Continue reading
