Illegal Immigration: America's Cross to Bear

When it comes to illegal immigration, I disagree with the “round ‘em up, ship ‘em out” folks and am against the new Arizona law for two broad reasons: For one, the so-called “threat” of illegal immigration is illusory when one looks...

To Peg or Not to Peg?

While I attended an economic conference last week in Shanghai, I found it notable – but not surprising – that two former Secretaries of the Treasury, John Snow and Hank Paulson, as well as current Treasury Secretary Tim Geither, and former President George...

Reports of Our Recovery Are Greatly Exaggerated

From all outward appearances, it seems that a grim chapter in U.S. economic history has come to an end. Newsweek magazine declares that “America is Back,” government statistics indicate revival, and our stock market has put in a rally for the record books...

Europe Fiddles, Gold Sizzles

Much to the relief of jittery global markets, Greece’s chronic debt problem has been papered over in a burst of European solidarity and apparent magnanimity. But this act of mercy may cost Germany its key position of financial dominance over the European Central...

"File-Sharing":It's Not Stealing Because I Don

When Boston University grad student Joel Tenenbaum was recently charged for illegally downloading and distributing thirty songs, he did not express remorse.  Instead, he likened the situation to underage drinking, saying, “I don’t regret drinking...