The Fed’s Fatal Conceit

In my experience, the Federal Reserve is guilty of what F. A. Hayek (1989) called “‘the fatal conceit”–that is, the belief that smart people can do the impossible. I don’t care how smart you are or how great your mathematical models are, you cannot coordinate the economic activity of seven billion people on this planet.

The Invisible Hand at Sea

The Azorean case shows that sustainability arises more from local responsibility than from distant centralized control.

Andrew Bernstein’s The Capitalist Manifesto

Andrew Bernstein’s book is “among the best single presentations of the case for capitalism. (It is) amazingly good.” – Harry Binswanger

Culture >

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Law >

Hillary Clinton Insults Herself–and Women Everywhere

Hillary Clinton Insults Herself–and Women Everywhere

Hillary Clinton recently said she hoped the U.S. would elect a woman to the White House because it would send “exactly the right historical signal” to men, women and children. She said women in politics need to “dare to compete” and the nation needs to “take that leap…

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Politics >

Lessons From the Bailout

In my more cynical moments, I think that we Americans deserve what we get from our politicians, many of whom can be generally described as nothing less than loathsome. You say, “Williams, that’s a pretty heavy putdown.” My question to you is how else…

The Real Obama on Education

What about those “real issues” that Barack Obama’s supporters in the media say we should get back to, whenever some new unsavory fact about his past comes out? Surely education is a real issue, with American school children consistently scoring below…

The Real Obama

Critics of Senator Barack Obama make a strategic mistake when they talk about his “past associations.” That just gives his many defenders in the media an opportunity to counter-attack against “guilt by association.” We all have associations,…

In Defense of Speculators and Short-Sellers

Everywhere today government bureaucrats and media pundits blame unwanted price movements on speculators and short-sellers. If prices are “too high”–it’s the fault of greedy speculators; if prices are “too low”–it’s the…

The Financial Panic and the Only Proper Answer to It

One fact is absolutely clear: most of the blame for the current financial panic is utterly misdirected. Rather than hold accountable the irrational government policies that encouraged irresponsible lending and mountains of homeowner debt (and those who supported these…

World >

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Markets: Business & Economics >

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Science & Technology >

The Green Fever Subsides

We all know that polls are just snapshots of a moment in time, taking the pulse of public opinion on some subject. A recent one by the Yale Center for Environmental Law and Policy, however, produced some encouraging news. Of 1,000 people polled, just over half said…

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