Senator Daschle vs. Rush Limbaugh: Who is Promoting Violence?

The change from Senate majority leader to Senate minority leader has apparently led Senator Tom Daschle, D-South Dakota, into more of the kind of wild and reckless rhetoric that may have contributed to the Democrats’ defeat in the recent elections. According to Senator Daschle, when radio talk show host Rush Limbaugh “attacks those of us […]

Thanksgiving: The Producer’s Holiday

Thanksgiving celebrates man’s ability to produce. The cornucopia filled with exotic flowers and delicious fruits, the savory turkey with aromatic trimmings, the mouth-watering pies, the colorful decorations — it’s all a testament to the creation of wealth. Thanksgiving is a uniquely American holiday, because this country was the first to create and to value material […]

Quarter One 2000 Upside Down?

When an investment celebrity like Pimco’s Bill Gross calls for Dow 5,000, we can’t help but see it as a sign of extreme investor pessimism suggesting that we must be getting near a bottom. It reminds me of the kind of thing we heard at the top in 2000 — in reverse. There are quantitative […]

Class sizes and Academic Achievement

Election Day brought some surprises, but the fact that voters in Florida passed an amendment that would reduce class sizes in their state isn’t one of them. Naturally, most parents would rather see their children in classes with just 19 other kids and a qualified teacher, instead of in classes with 30 students, possibly taught […]

Is Deflation Dead?

Ever since Alan Greenspan surprised the markets by lowering interest rates 50 basis points a week ago Wednesday, the financial media have been frantic with worry about deflation. Well, you heard it here first — exactly a year and a day ago in this column, on November 14, 2001. I told you then about the […]

Does the Democratic Party Take Blacks for Granted?

In analyzing the recent Democratic bath in the off-year election, black Representative Cynthia McKinney, D-Ga., defeated in her own primary, accused the Democratic Party of “taking black voters for granted.” Tavis Smiley, black NPR commentator, made the same assertion while chastising his guest, former Vice President Al Gore, for allegedly committing the same crime. The […]

Real Options: A Practitioner’s Guide

AN ANALOGY-GETTING FROM HERE TO THERE Suppose you are planning to drive from Boston to Los Angeles. If you are like us, you will get a map (online from the Internet), remember that over long distances the great circle route is actually the shortest distance between two points on the surface of a globe, and […]

Norman Borlaug: Solving World Hunger Through Genetics

Not to take anything away from Jimmy Carter, the 2002 Nobel Peace Prize winner and a far better ex-president than president, but, when it comes to saving lives, no one can compete with Norman Borlaug. Norman who? Borlaug is one of the great humanitarians of the 20th Century – and winner of the Nobel Peace […]

The Real Revolutionaries

For months, courageous protesters have braved riot police to oppose the depredations of a warlike and oppressive regime bent on world domination. No, I am not talking about the “anti-war” protesters who menace the cities of Europe and America–the creeps who scale the barricade of a Starbucks storefront for no greater goal than the glee […]

Dirty Secrets About “Affirmative Action”

“The dirty little secret about affirmative action is that it doesn’t work.” So concluded ABC network reporter Bob Zelnick in his excellent book on the subject, titled “Backfire.” An even dirtier secret is that virtually no one really cares whether or not affirmative action works to advance minorities or women. It works politically to put […]

Social Security Reform: It’s Alive

Opponents of Social Security reform must feel like they’re stuck in a bad horror film. Every time they think they’ve killed off personal retirement accounts, the campaign to create the accounts comes back, stronger than ever. The 2002 election was no exception. Social Security reform survived Republicans who tried to avoid the subject, Democrats who […]

The Legitimacy of Intellectual Property

Revolutionary technologies always disrupt society and one of America’s biggest “digital age” disruptions is occurring in the area of intellectual property (IP). Indeed, the digital revolution has re-ignited a heated debate over whether intellectual property is even property at all. The issue gained prominence a few years ago when five major record labels sued Napster, […]