The Earth is Mankind’s Garden

If the welfare of human life was the standard by which we judged industry and technology, there would be no reason to have a day like “Earth Day.” Rather than the environmentalists parading their assault on anything and everything that is a mark of human...

It’s Time to Nationalize Grocery Stores ;)

One of the great scandals of our age is the fact that America spends more on food than any other nation. Many political leaders are now calling for urgent reform to bring spending on food under control. While food spending is rapidly increasing and many Americans are...

Broken Windows, Broken Principles

Economic success requires recognition, not evasion, of the fact that the principle of cause and effect applies just as inexorably in financial policy as it does in the scientist’s lab. Only when we reestablish acceptance of this idea can we hope to reverse course and return to the road of long term prosperity.

Magic Numbers in Politics

Words are not the only things that enable political rhetoric to magically transform reality. Numbers can be used just as creatively– and many voters are even more gullible about statistics than they are about words, apparently because statistics seem more...

Abhorrence of Democracy and Mob Rule

Democracy and majority rule give an aura of legitimacy to acts that would  otherwise be deemed tyranny. Think about it. How many decisions in our day-to-day lives would we like to be made through majority rule or the democratic process? How about the decision...

Magic Words in Politics

China is the largest foreign holder of U.S. government bonds. But, instead of buying more of those bonds as our skyrocketing national debt leads to more bonds being issued, China has been selling some of its U.S. government bonds this year. The Chinese are no fools....

Taxation 101: Who Pays Corporate Taxes?

When we think about government spending, and the taxes needed to finance its spending, we should also think of the effects of taxation. Suppose I hire you to repair my computer. The job is worth $200 to me and doing the job is worth $200 to you. The transaction will...