A Monetary Policy Primer, Part 1: Money

What, exactly, is “monetary policy” about? Why is there such a thing at all? What should we want to accomplish by it — and what should we not try to accomplish?

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George Washington’s Birthday

The holiday we have just celebrated, now called “President’s Day,” was within living memory called “George Washington’s Birthday.” It is our loss that we no longer have any sense of this great man, who had more than anyone else to...

The Education Bill

The compromise education bill just passed by Congress and signed into law by President Bush provided some good political theater and even a little humor, with the president embracing Ted Kennedy. But what did it do for American education? Not much. The new legislation...

The War on Terrorism and the War on Reality

Here is the painful dilemma America faces: If we don’t attack Iraq, we could risk a nuclear attack on New York or Washington by Iraqi-backed terrorists. But if we do attack Iraq, we could risk “alienating” our Arab and European allies and earning the...

The Illegal Alien Pander-lympics

There’s a rigged competition going on in politics that you won’t see on television this week. It’s the deceptive speed-spending race to fix our immigration enforcement woes. President Bush proposes boosting the Immigration and Naturalization...

Looters In “Public Good” Suits

“They can stoke me with money,” said Senator Ted Kennedy, referring to how the Bush Administration can win his favor. “I’m an easy stoke.” Why can’t we just stoke him? Or, more importantly: stoke his ideas and policies? We should...

Dealing with Terrorism

Q: How are people coping with the aftermath of the events of September 11th, so that the psychological impact of the terrorist events does not overwhelm them? A: In many different ways. At first, some found an oddly kind of pleasant escape in focusing on events in the...

Ted Kennedy Wants Your Money

In a demonstration that the more things change, the more they remain the same, Senator Ted Kennedy called last week for expanding the public sector at the expense of the private one. His speech at the National Press Club in Washington drew a lot of media attention...

Loving Thy Enemy

From a FoxNews.com report: Shackled, blinded and bound, 30 Al Qaeda and Taliban detainees stepped off a U.S. Air Force C-141 cargo plane in Guantanamo Bay, Cuba, Wednesday after an all-night flight from Afghanistan, halfway around the world. Sixty gun-toting Marines...

For Self and Country: A Soldier’s Tale

I’m sitting in a C-130 Hercules—80 pounds of gear strapped to my back, 1500 feet above the ground. I can hear the Herc’s engines – a deep, unceasing, monotonous drone. I can feel their vibration – a pervasive trembling that begins outside, on the wings of the...