Random Thoughts for December 2008

Random thoughts on the passing scene: Maybe the current bailout fever is Congress’ way of getting into the spirit of the season– saying in effect, “Yes, Virginia, there is a Santa Claus.” They will undoubtedly also be saying, “Yes, New...

Another Great Depression?

With both Barack Obama’s supporters and the media looking forward to the new administration’s policies being similar to President Franklin D. Roosevelt’s policies during the 1930s depression, it may be useful to look at just what those policies were...

Counterfeiting versus Monetary Policy

Congress is on a spending binge. With all the calls for bailouts, economic stimulus and other assorted handouts, there is a real risk of inflation in our future. If we do have a rapid inflation, it’s likely that Congress, as they did in the financial meltdown,...

Postponing Reality

Some of us were raised to believe that reality is inescapable. But that just shows how far behind the times we are. Today, reality is optional. At the very least, it can be postponed. Kids in school are not learning? Not a problem. Just promote them on to the next...

O.J. Simpson and The High Cost of Favoritism

O.J. Simpson has attracted less attention by being declared “guilty” in Nevada than he did by being declared “not guilty” in California. Yet his story is more than the tragedy of one man. O.J. is not the first star athlete– or movie star,...

The Meaning of the Terrorist Attacks in Mumbai

Will the horrors unleashed by Islamic terrorists in Mumbai cause any second thoughts by those who are so anxious to start weakening the American security systems currently in place, including government interceptions of international phone calls and the holding of...

Capitalism and the Moral High Ground

Economists from Adam Smith to Ludwig von Mises to Henry Hazlitt to Thomas Sowell have elucidated the general mechanics of a free market and demonstrated the unassailable practicality of capitalism. They have shown how freer markets provide better and cheaper health...