MARKETS
Reject CEO Pay Caps and Minimum Wages
CEO pay caps and minimum wages are immoral because both curtail individual freedom by government force—yet, freedom is the fundamental requirement of human flourishing and prosperity.
Capitalism and Free-Market Competition
According to the critics of capitalism, competition is a cruel process feeding unnecessary wants, that evolves into anti-competitive monopolies acting contrary to the “public interest.”
Capitalism and Monopolies
Harmful monopolies are always created by government.
A “Right Side” to History? The Failure of Marx’s Predictions About Capitalism, Part 2
Those who speak about being on the “right side of history” have, knowingly or not, adopted a central element in Karl Marx’s analysis of capitalism
A “Right Side” to History? The Failure of Marx’s Predictions About Capitalism, Part 1
One of the most common phrases to be heard from those on “the left” is the assertion that someone or some public policy is or is not on “the right side of history.”
Fake Tax Reform
After supposedly chomping on the bit for years to pass meaningful tax reform, Republicans are now set to blow an historic opportunity. Whatever version of the Bill that emerges from the House and Senate Conference Committee (which will be signed by President Trump...
Wealth Creation is Not a Zero Sum Game
Those producing and trading goods and services for profit are not taking anything away from others—the producers and traders are creating material values that would not exist without their productivity.
Books: The Moral Case for Finance
The essential moral case for finance that Brook and Watkins present is that finance is good by the standard of human flourishing.
Right-To-Work is an Inalienable Right
While individuals have a right to organize, they do not have the right to violate other people’s rights, forcing them to join their organization.
Calm Before The Storm
In light of the 30-year anniversary of the Black Monday Crash in 1987 (when the Dow lost more than 20% in “one day”, we should be reminded that investor anxiety usually increases when markets get to extremes. If stock prices fall steeply, people fret about...
Every Job is a Thinking Job
Thinking on the job, and in every other aspect of life, is a virtue necessary for human flourishing.
When Government is Anti-Business—and What To Do About It
As Ayn Rand explains, the only proper role of government is to protect citizens against the initiation of physical force and fraud, through the police, the armed services, and the courts.
Government Intervention: The Great Job Killer
Government cannot create jobs because it does not produce anything.
Dealing With Bullies At Work
So how to deal with a workplace bully? The only effective way to do so is to apply appropriate moral principles: rationality, integrity and justice.
Objective Moral Principles Make Decisions Easier
Thanks to Ayn Rand and the objective moral principles she identified, we can make moral decisions more easily—and achieve our values in the long term.
Should the Nanny State Dictate Training for Uber Drivers?
Should government be an all-knowing, benevolent nanny who tells us how we must live, for our own good?
A New Challenge to the Dollar
In a move that was little noticed outside of the financial world, China announced the creation of an oil futures contract (open to international traders) that will be denominated in Yuan and convertible into gold. This move provides the first official linkage of oil...
Blowing Off The Roof
Of all the absurd Washington pantomimes none has been as reliably entertaining and maddening as the annual debates to raise the debt ceiling. Although the outcome was always a foregone conclusion (the ceiling would be raised), the excitement came when fiscal...
Video: John Allison on Principled Leadership
On July 21, 2011, Wake Forest University Schools of Business Distinguished Professor of Practice John Allison address the Master of Arts in Management Class of 2012. The retired chairman and CEO of BB&T discussed Principled Leadership with the incoming class of business students.
The Swamp Strikes Back
On August 21st many Americans witnessed the moon cast a historic but short-lived shadow across the United States. One day later, President Trump reversed his previously stated position on the 16 year old Afghan War, thereby eclipsing the possibility that the United...
Altruist Morality Equals Bad Economics
If we embraced the moral code of rational egoism, we would solve all of today’s economic problems … and reach unprecedented human prosperity and flourishing
How To Be a Better Boss
Their pragmatist mindset of “skip the philosophy; just give me the practical tips,” hinders them from becoming better managers.
Austrian Monetary Theory vs. Federal Reserve Inflation Targeting
The phantom of “inflation targeting.”
Ten Years On: Recession, Recovery and the Regulatory State
All that the American economy has gone through over the last decade is not a “crisis of capitalism,” understood as a truly free market, but the crisis of the government managed and manipulated system of economic control, command and accompanying corruption.
Business Requires a Rational Ethics
Not all ethics guide us to achieve happy, fulfilling lives
Bernie Madoff: Lessons From an Ayn Rand Villain
Madoff was what Ayn Rand would call a second-hander: someone who tries to gain values by pleasing and manipulating others rather than thinking for himself based on observation of facts and supporting himself through productive work.
What Motivates Amazon’s Critics?
What really drives Amazin’s critics is a hatred of success: success of anyone who is achieving more than others.
A Monetary Policy Primer, Part 11: Last-Resort Lending
Forget about monetary policy for a moment or two, and imagine, instead, that you’re back in 6th grade. You and your classmates are about to go on a camping trip, involving some strenuous hiking, and lasting several days.
The EU and Japan Move Closer
Any news that emerged from last week’s G-20 Summit in Hamburg, Germany was bound to be overshadowed by the high theater of the first-ever meeting between U.S. President Trump and Russian President Vladimir Putin. As a result, the biggest actual development from...
A Monetary Policy Primer, Part 10: Discretion, or a Rule?
Forget about monetary policy for a moment or two, and imagine, instead, that you’re back in 6th grade. You and your classmates are about to go on a camping trip, involving some strenuous hiking, and lasting several days.
Damn the Deficits, Huge Tax Cuts Ahead!
Donald Trump has made good on one of his most audacious campaign promises by submitting what he describes as the biggest tax cut in U.S. History. For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if...
Italy’s Bank Rescue Foreshadows Nationalization of More EU Banks
On December 7, 2016, Italy’s Prime Minister Matteo Renzi resigned following defeat in a national referendum, that he had supported, that would have changed the country’s parliamentary system. The development, which represents just the latest sign of anti-EU sentiment...
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