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 >

The Sex Police vs. The Heart Attack Grill

The Sex Police vs. The Heart Attack Grill

The motto at the popular Heart Attack Grill in Tempe, Ariz., is: “Taste … worth dying for!” That’s because it serves only artery-clogging food like big hamburgers (the biggest is called the “Quadruple Bypass”) and “Flatliner Fries,” which are boiled in lard. The…

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Politics >

“Windfall Profits” and the Price of Gasoline

In the wake of high gasoline prices and high oil company profits, House Speaker Dennis Hastert demands that oil companies explain why they are making so much money and what they plan to do to bring down the cost of gasoline. Sen. Byron Dorgan, D-N.D., has introduced a…

Riots in France: The Barbarians at the Gates of Paris

Riots that began on the outskirts of Paris have spread into the center of the French capital and to other communities in other parts of the country. Thousands of cars have been set on fire and the police and even medical personnel have been shot at. Like many other…

Cut Federal Spending and Put Medicare Prescription Drugs on Hold

Republicans in Congress are now struggling to carve some spending cuts out of their recent vast increases in the Federal Budget. Democrats, while critical of deficit spending, are helpfully suggesting even more spending increases. The best quick fix would be to delay…

Iran’s Final Solution Plan

“Iran’s stance has always been clear on this ugly phenomenon [i.e., Israel]. We have repeatedly said that this cancerous tumor of a state should be removed from the region.” No, those are not the words of Iran’s president, Mahmoud Ahmadinejad,…

Civil Rites Rights

While giving my office at home an overdue cleaning up — “operation Augean stable,” as my wife and I call it — I uncovered in the paper jungle a 2005 calendar. Since there was not a lot of 2005 left, I was about to throw it out when I read its…

World >

Iran, Not So Far Away

President Bush issued an executive order declaring a national emergency with respect to Iran — exactly two years ago on Thursday, [March 13]. Bush declared: “The actions and policies of the [theocratic] Government of Iran … threaten the national…

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Markets: Business & Economics >

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Science & Technology >

The Kyoto Protocol is a Complete Fraud

The Kyoto Protocol is a Complete Fraud

In primitive cultures, witch-doctors encouraged tribal chiefs to sacrifice people to mystical beliefs and deities. The Aztecs slaughtered thousands per year hoping to secure good weather from a mythical sun god. Power lusters throughout history have discovered…

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