Intermediate Spending Booms

A number of recent exchanges between Market Monetarists and their critics, and especially those of their critics associated with the Austrian school, have debated the contribution of excessively easy Fed policy toward the housing boom and bust. The issue boils down to...

Ethics of Energy Companies

Energy companies, particularly those producing fossil fuels—oil, natural gas, coal—are under attack by the environmentalists and their sympathizers in the media. It is one thing to criticize companies such as BP, deservedly, for lax safety procedures or lacking...

California vs. Texas

In recent years, much has been made about the economic success of Texas and the decline of California. Many have pointed to California’s tax and regulatory burdens and the more business friendly policies of Texas as a primary reason. These certainly are a fundamental...

Lessons from Black Monday

Twenty-five years ago, on another Monday in late October, the financial world seemed to disintegrate in a heartbeat. Though the 205 point drop in the Dow last Friday (the technical anniversary of the ’87 Crash) was somewhat reminiscent of its 108-point drop on...

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