The proper role of the government is not to tell companies what to produce and sell and to consumers what to buy.
MARKETS
Swiss Reject To Limit Executive Pay
Justice demands that people are compensated on the basis of performance, not on the basis of their need or of the egalitarian ideal dominant in today’s culture.
ObamaCare’s First Few Years
The Patient Protection and Affordable Care Act—otherwise known as ObamaCare—is almost four years old. Despite the technical troubles, what every American should know about the law is that whatever its provisions, whatever the press propagandizes or reports, the...
SEC Attacks SAC Capital
Insider trading is when someone trades with knowledge they have but which others do not. The question is whether this should be a crime.
A Green Light for Gold?
Gold moved from $300 to $1,800 not because investors believed the government would hold the line on debt, but because they believed that the U.S. fiscal position would get progressively worse. That is what happened this week.
A Return to Keynes?
Under Calvin Coolidge, the ultimate in non-interventionist government, the annual unemployment rate got down to 1.8 percent. How does the track record of Keynesian intervention compare to that?
Debt Ceiling Delusions
The popular take on the current debt ceiling stand-off is that the Tea Party wing of the Republican Party has a delusional belief that it can hit the brakes on new debt creation without bringing on an economic catastrophe. While Republicans are indeed kidding...
Is Stealing Good For the Economy?
How could the Yellen’s and Bernanke’s of the world possibly think that counterfeiting money is a good idea?
Minimum Wage Madness: Part II
Labor unions have been supporters of minimum wage laws in countries around the world, since these laws price non-union workers out of jobs.
Minimum Wage Madness
Countries with minimum wage laws almost invariably have higher rates of unemployment than countries without minimum wage laws.
The Half Full Economy
The government is continuously over promising and under delivering.
What’s in the Vault?
Many have understandably sensed that central banks may well have acted to allow bullion banks to take out massive naked short positions in precious metals in order to drive down the price.
Lessons From the Bankruptcy of Detroit
Private enterprise built America’s Motor City; government destroyed it.
One CEO’s Dilemma: “But I don’t want to be moral!”
The moral is the practical—that is the reason why you want to be moral.
“You Are Not That Good”– Why Business Leaders Need Pride, not Humility
Instead of humility that the “you are not that good” remark is trying to admonish, an effective business leader needs to embrace the moral principle of pride: the policy of doing one’s best.
A shareholder-employee conflict?
Marx was wrong: shareholders will benefit, not from the exploitation of workers but from their motivated, productive, fairly-compensated contribution to wealth creation. It is not a win-lose but a win-win; the alleged conflict between shareholders and workers is a myth.
The Golden Cycle
The New York Times had the definitive take on the vicious sell off in gold. To summarize one of their articles: Two years ago gold bugs ran wild as the price of gold rose nearly six times. But since cresting two years ago it has steadily declined, almost by half,...
Economics vs. ‘Need’
One of the most common arguments for allowing more immigration is that there is a "need" for foreign workers to do "jobs that Americans won't do," especially in agriculture. One of my most vivid memories of the late Armen Alchian, an internationally renowned economist...
Understanding Gold Market Dynamics
To an extent that reveals a thorough misunderstanding of the market forces, the financial media has failed to consider the different motivations and beliefs that drive the different types of investors who are active in the gold market. By treating the gold market as...
The Great Reflation
This week economists, investors and politicians were treated to some of the "best" home price data since the frothy days of 2006 when home loans were given out like cotton candy and condo flipping was a national pastime. The Case-Shiller 20 City Composite Home...
The Value of Free-Market Competition
It is wrong of governments to interfere with markets, whether through protectionism or other regulations restricting our freedom to trade and compete.
The Biggest Loser Wins
While the world's economies jockey one another for the lead in the currency devaluation derby, it's worth considering the value of the prize they are seeking. They believe a weak currency opens the door to trade dominance, by allowing manufacturers to undercut foreign...
Gold Recovers Amidst Uncertainty
The selloff in gold that captured the world's attention in mid-April has revealed some truths about how the market trades and the sentiments of many of the investors who have piled into the trade over the past few years. While the correction does highlight a higher...
Business Hero John Allison: BB&T — The Bank That Atlas Built
Ayn Rand asked the question, “Philosophy: who needs it”? Allison and BB&T have proven that businesses need philosophy — Ayn Rand’s philosophy.
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