Exposing the real nature of its assault, the OECD has also condemned lower tax rates and tax shelters that exist within industrialized countries — such as Australia, Belgium, Canada, Finland, France, Greece, Italy, Ireland, Portugal, Luxembourg, Sweden, Hungary,...
Richard M Salsman
Dr. Salsman is president of InterMarket Forecasting, Inc., an assistant professor of political economy at Duke University and a senior fellow at the American Institute for Economic Research. Previously he was an economist at Wainwright Economics, Inc. and a banker at the Bank of New York and Citibank. Dr. Salsman has authored three books: Breaking the Banks: Central Banking Problems and Free Banking Solutions (AIER, 1990), Gold and Liberty (AIER, 1995), and The Political Economy of Public Debt: Three Centuries of Theory and Evidence (Edward Elgar Publishing, 2017). In 2021 his fourth book – Where Have all the Capitalist Gone? – will be published by the American Institute for Economic Research. He is also author of a dozen chapters and scores of articles. His work has appeared in the Georgetown Journal of Law and Public Policy, Reason Papers, the Wall Street Journal, the New York Times, Forbes, the Economist, the Financial Post, the Intellectual Activist, and The Objective Standard. Dr. Salsman earned his B.A. in economics from Bowdoin College (1981), his M.A. in economics from New York University (1988), and his Ph.D. in political economy from Duke University (2012). His personal website is richardsalsman.com.
The Alleged Harm Done By Tax Havens
Tax burdens imposed by the world’s welfare states — especially those imposed on the wealthiest, most successful entrepreneurs and shareholders — have increased with every passing year. No wonder “Atlas is Shrugging.” By accessing tax...
Rational Pessimism: The Choice Between ‘Irrational Exuberance’ and ‘Irrational Pessimism’ is a False Dichotomy
When North American stock markets raced upward from 1995 to 1999, their rise was ridiculed — by people like Yale’s Robert Shiller and the U.S. Federal Reserve’s Alan Greenspan — as a mere “irrational exuberance.” No facts, they...
Nobel Prize for Economics Rewards Voodoo and Not Science, Part 2
In The New York Times of October 11th , right next to the article on the latest Nobel Prize winners in economics, is another titled Expansive Role for Greenspan Brings Out Critics of Fed’s Chief. The article recounts how Alan Greenspan has been called upon (and...
Nobel Prize for Economics Rewards Voodoo and Not Science, Part 1
The economic and foreign policies of governments — for good or ill — exert a dramatic influence on investors’ portfolios. If that isn’t obvious by now, given the policies of the past two years, it will never be so. In economic policy...
Let’s Retire Social Security on its 65th Birthday: A Moral Way to Abolish This Destructive Scheme
This month marks the 65th “birthday” of the Social Security Act. Most people retire at 65, after accumulating wealth through decades of hard work and saving. It’s high time that America “retires” Social Security itself — cease its...
The “Crony” in Russian “Capitalism” is Socialism
Doesn’t unrestrained capitalism lead to kleptocracy, cronyism, and anarchy?
Mythical Roots of Antitrust: Definition Unnecessary
The antitrust laws and their enforcement are every bit as arbitrary as the “perfect competition” doctrine. Consider only those provisions relating to price setting. If a business sets a price above the prices of its rivals, it can be charged with...
Mythical Roots of Antitrust: ‘Perfect Competition’
Antitrust law relies heavily on flawed economic theory–particularly its theory of competition. It’s a view held explicitly or implicitly by most economists, politicians, and journalists. It’s been taught for decades in the universities....
Mythical Roots of Antitrust: Economic Power vs Political Power
From the time great business leaders were first maligned as “Robber Barons,” socialists have tried to obscure the difference between economic power and political power. They’ve insisted, against all evidence, that productive giants such as Andrew...
Mythical Roots of Antitrust: Preface
Most of you will recall the scandal during the winter Olympics a few years back, when disgruntled skating competitor Tanya Harding hired a thug to take a pipe to the shins of Nancy Kerrigan. Harding was envious of Kerrigan’s superior ability and tried to cripple...
Assault Microsoft, Assault the NASDAQ
Earlier this month US District Court Judge Thomas Penfield Jackson issued his “conclusions of law” in the Microsoft antitrust case. BAM! Nearly $90 billion in value was destroyed–at Microsoft alone. The firm’s stock plunged 14%. The broader...
Microsoft’s Real Sin: Sanction of the Victim
Like other antitrust targets, Microsoft, is guilty–of something. They’re guilty of something terrible. They’re guilty of believing they’re guilty. They’re guilty of believing they’re evil. They’re guilty of apologizing for...
The American KGB: The Department of Justice’s Antitrust Department (Part 6)
The antitrust laws are based on the economic theory of “pure and perfect competition” and deeper, on the ethical theory of altruism, or self-sacrificial service to others. What do the laws require? What illegal behavior do they cite? What punishments do...
Why Greenspan Trashes the Markets
When Federal Reserve chairman Alan Greenspan speaks, markets listen. But Mr. Greenspan doesn’t create wealth, as E.F. Hutton did when he spoke. Mr. Greenspan’s speeches tend to destroy wealth. Last week, for example, Greenspan told Congress that...
"Pure and Perfect" Competition? By What Standard?
This article is an adaptation of a lecture Mr. Salsman gave at Harvard University, in May of 1999. The print version has been edited lightly in order to retain it’s spontaneous quality. Mr. Salsman has not reviewed the edited version. I’ve mentioned some...
What Does Competition Mean Under Capitalism?
Government should uphold and enforce market contracts–not violate freedom of contract by dictating the terms, changing the terms, or abrogating the terms of contracts
Individual Rights and the Essential Nature of Capitalism
Part 3 of 6 in a Series of articles on Capitalism, Free-competition, Antitrust, and Microsoft The following article is an adaptation of a lecture Mr. Salsman gave at Harvard University, in May of 1999. The print version has been edited lightly in order to retain...
The Conservative-Marxist Origins of Antitrust
Part 1 of 6 in a Series of articles on Capitalism, Free-competition, Antitrust, and Microsoft The following article is an adaptation of a lecture Mr. Salsman gave at Harvard University, in May of 1999. The print version has been edited lightly in order to retain...
Attacks Against Microsoft Immoral
On March 3, 1999 Bill Gates will testified before the United States Senate Judiciary Committee to defend Microsoft against-anti trust charges. Prior to Gates’s testimony, activist Ralph Nader will be mobilizing his “public citizens” to condemn...
Get Government Out of Social Security
In response to the growing recognition of the systemic problems with Social Security, President Clinton has suggested strengthening the program by investing over $700 billion of projected surpluses in the stock market. His plan, however — along with similar...
What Trustbusters and Marxists Have in Common: Equating Economic and Political Power
Part 2of 6 in a Series of articles on Capitalism, Free-competition, Antitrust, and Microsoft Just as Marxists do, the proponents of antitrust laws–a century ago and today–actively seek to obscure the crucial distinction between economic power and...
Abolish The IMF
In the past year, foreign nations taking IMF advice on currency, tax and banking policies have suffered over $200 billion in loan losses and capital flight. The IMF has been pouring the funds of Western taxpayers into these regimes as fast as local wealth has been...
Attacking the Heart of Medicine
One vital fact was omitted in the news accounts about the success of Boris Yeltsin’s recent heart surgery: the failure of socialized medicine. And this fact underscores the question of whether America’s health-care policies are courting a similar failure....
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