In Praise of Another Tax Cut

Early on in the 2000 presidential race, President Bush unveiled his plan for a $1.6 trillion tax cut. Back then, the justification was that the economy was in great shape, and the designated beneficiaries were, as Bush put it, “those who paid the bill,”...

Death to Dictators in Iran

“Happy colors became sinful, joy became a crime, and death was worshipped.” That’s how Reza Mahmoodshahi, writing last December in The Cornell Review, describes what happened in 1979 when Ayatollah Khomeini returned from exile and assumed his post as...

Revisiting the Efficient Market Hypothesis

Over the past few months, the stock market has put on one of those frequent demonstrations that show exactly why smart investors buy stocks and hold on to them — or, better yet, why they consistently buy more. The economic news has not been good, with...

Defining Market Share: A Glimpse at Reality

According to The Times of London, the city of Munich has replaced Microsoft Windows with a Linux operating system in 14,000 of its computers. This provided a glimpse of economic reality, completely contrary to the premise on which Judge Thomas Penfield Jackson...

Reducto Ad Totalitarianism

Imagine a society in which an unelected, few people, qualified for power only by their mastery of esoteric terminology and incantations, are able to dictate our everyday lives in the most minute detail–growing rich in the process by siphoning off unearned...

Cancer Cluster Bluster

Exploiting junk science is great for re-election campaign coffers. Thus, one of Sen. Hillary Clinton’s first major crusades after she took office was to whip up public health hysteria on Long Island, where some activists have blamed slightly elevated breast...

Government’s Long-Term Fiscal Imbalance

One of the hottest documents circulating around Washington today is a highly technical, statistics-laden, 131-page paper by Hoover Institution economist Michael Boskin. First reported by Jim McTague in Barron’s on June 16, it estimates that the taxation of...