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Progress In a Free Economy

The Industrial Revolution has allowed mankind to improve his environment.

The Unintended Consequences of The Minimum Wage

The Unintended Consequences of The Minimum Wage

But behind all of these negative and usually unintended consequences arising from the imposing of a government-enforced hourly minimum wage remains the fundamental ethical issue: who shall have the right to decide under what terms and conditions people enter into gainful employment?

Trump Plays with Fire on Trade

With his announcement last week of broad tariffs on imported steel and aluminum, President Trump launched what could be the first salvo of an all-out global trade war. Seemingly itching for a fight, he gleefully tweeted that “Trade wars are good, and easy to win.” It...

Raising Rates Reflect Bigger Debt Not Faster Growth

While investors are justifiably focused on what may be the opening crescendo of a long overdue sell-off in stocks, there is not, as of yet, as feverish a discussion of the parallel sell-offs in bonds and the U.S. dollar, which have been underway for at least a year...

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

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.

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 money lost,...

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