History shows that, whenever financial institutions, whether domestic or global, have been allowed to develop freely, the results have been far more satisfactory than those from government-designed schemes.
MARKETS
Perception vs. Reality at the Fed
Credibility at the Fed is about subtleties and about perceptions, as opposed to reality.
William Jennings Bryan and the Founding of the Fed
William Jennings Bryan, the most stalwart enemy of both private currency and currency monopoly since Andrew Jackson, helped to create a currency monopoly far more powerful than any that Jackson could ever have envisaged, and far more capable of gratifying Wall Street, at the expense of the rest of the nation, than Wall Street alone, left perfectly free from government controls, could ever have devised.
Business as a Moral Endeavor
Business is moral because our lives and well-being depend on it, and businesspeople are heroes and moral creators who deserve, not our disdain and criticism, but our thanks.
Book Excerpt: Money, Banking, and the Business Cycle
An excerpt from the introduction of Money, Banking, and the Business Cycle.
Why Appeasement Doesn’t Work: Sainsbury’s and Kosher Foods
By appeasing the protestors, the first moral principles the Sainsbury’s manager conceded was the right to liberty.
Cheering the Burger King Takeover of Tim Hortons
To argue that foreign takeovers of Canadian companies are of “no net benefit” is nonsensical.
Mob Rule Economics and “Living Wages”
An employer is not hiring people in order to acquire dependents and become their meal ticket. He is hiring them for what they produce.
Fed Follies: Central Bank Continues to Force Economy in Wrong Direction
Why did the Federal Reserve’s monetary policy of price level stabilization in the 1920s result in the Great Depression of the early 1930s?
Market Competition is Good and Government Meddling is Bad
If we want to enjoy lower prices and better quality products and services, whether in air travel, cell phone service, health care, or anything else, the solution is to stop the government from trying to manage markets and to make them free instead, thus increasing competition.
Capitalism Solves Problems; Statism Creates Them
Free market benefits aren’t only measured in dollars and cents.
The Myth of “Unfair” Martkets and “Extreme” Capitalism
It is the government efforts to “moderate” capitalism and to make markets “fair” that create the unfairness they claim to alleviate.
Is Inequality Caused by Capitalism or Statism?
Capitalism creates through freedom; the state destroys via regulation; capitalism gets the blame.
The Ambassador and the Post Office: A Lesson on Freedom from India
You can always keep anything old, clunky and inefficient still in business, if you are willing to pour unlimited amounts of the taxpayers’ money down a bottomless pit.
Capital in the 21st Century: Thomas Piketty’s Envy Problem
A tired old recipe for global communism in 21st century pseudo-academic clothing.
The Inequality Trap Distracts from the Real Issue of Freedom: Thomas Piketty’s Capital in the Twenty-First Century
Rather than asking the source or origin of that wealth — production or plunder –the egalitarians like Thomas Piketty merely see that some have more wealth than others and condemn such an “unequal distribution,” in itself.
Gary Becker (1930-2014)
Nobel Prize-winning economist Gary Becker was internationally renowned within the economics profession, but was not nearly as well known among the general public as he deserved to be.
The Moral Bankruptcy of Our Educational System
Too many of today’s “educators” see students as a captive audience for them to manipulate and propagandize.
Wage Discrimination
There are inequalities everywhere. According to the Bureau of Labor Statistics, Asian men and women have median earnings higher than white men and women. Female cafeteria attendants earn more than their male counterparts. Females who are younger than 30 and have never been married earn salaries 8 percent higher than males of the same description.
Investors Ignore Frightful Geopolitics
When the former Soviet Union collapsed almost 25 years ago, most global strategic forecasters assumed that the U.S. would adapt pragmatically to her new status of sole world superpower. Instead she has pursued a variety of misguided nation-building adventures and has...
Taxing By Inflation
If you put $1,000 in your piggy bank in 1960 and took it out to spend in 2000, you would discover that your money had, over time, lost 80 percent of its value.
How Minimum Wage Laws Increase Poverty
The principle here is that we need to look to greater economic freedom, not greater government intervention, as the path to economic improvement for everyone, especially the poor.
Is There Wage Stagnation?
Many economists, politicians and pundits assert that median wages have stagnated since the 1970s.
Leadership and The BB&T Philosophy
The foundation of BB&T’s success is its principles.
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