In its recently released budget the Canadian (Conservative!) government announced $6.4 billion of new corporate welfare spending. The aerospace sector will receive $1.2 billion of it over the next five years, Federal Economic Development Agency for Southern Ontario...
After going back and forth, the government of Cyprus ultimately decided, under international pressure, to go ahead with its plan to raid people’s bank accounts. But could similar policies be imposed in other countries, including the United States?
The fundamental issue is not wage rates, but productivity. If a worker desires a higher wage, he must produce more in a given period of time.
The past few months illustrate a serious spread of Bernanke’s policies across the entire developed world.
Rubio perpetuates exactly what’s wrong. He assumes, like Obama, that what we have is a mostly free enterprise system. But we don’t.
The Fed has no credible exit strategy.
There is no exit strategy because the results of the Fed withdrawing its artificial support would be disastrous for the US Treasury and in the short-term, the US economy.
Currency devaluation is not a winning strategy, especially for a country with a strong balance sheet.
The newly rediscovered, nutritious “miracle grain” quinoa, eaten increasingly by health-conscious consumers in the developed countries, is making the rich richer and the poor poorer. At least if we are to believe the recent article in The Guardian newspaper of the...
Right-to-work laws prevent unions from imposing mandatory fees, giving employees the right to work without paying union dues. Otherwise, right-to-work has no effect on collective bargaining. All other negotiations continue as before. What’s wrong with that?
Collective bargaining laws give unions an effective monopoly on many state and local government workforces.[1] They force the government to negotiate employment terms with the union, and all employees must accept that union’s representation. Unions use this power to...
Benta Diaw immigrated to the United States from Senegal. She decided to open a business braiding hair as she was taught by her grandmother in Africa. However, the state of Washington declared her business illegal. Was Diaw misleading her clients and using dangerous...
Whole Foods co-CEO John Mackey recently backed off his description of Obamacare as “fascism.” Mackey stated, “I made a poor word choice to describe our health care system, which I definitely regret. The term fascism today stirs up too much negative emotion with its...
The birth, and the apparent death, of the trillion dollar platinum coin idea may one day be recalled as a mere footnote in the current debt crisis drama. The ultimate rejection of the idea (which was to use a loophole in commemorative coinage law to mint a platinum...
Economists who hold the popular view that expanding the money supply will provide the best medicine for our ailing economy dismiss the inflationary concerns of monetary hawks, like me, by pointing to the supposedly low inflation that has occurred during the current...
With the “fiscal cliff” mess not solved but merely kicked down the road a few months, it’s a good time to summarize a few points I make in my book, The Financial Crisis and the Free Market Cure. I hope – but do not expect – that our elected representatives learn to...
In the long term, we cannot consume more than we produce.
Founded in the aftermath of the Great Depression, the stated mission of the Securities and Exchange Commission (SEC) is “to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” While this seems like a laudable goal, like...
By upping the ante once again in its gamble to revive the lethargic economy through monetary action, the Federal Reserve's Open Market Committee is now compelling the rest of us to buy into a game that we may not be able to afford. At his press conference this week,...
Although the movement to “End the Fed” has a considerable popular following, only a very tiny number of economists—our illustrious contributors amongst them—take the possibility seriously. For the rest, the Federal Reserve System is, not an ideal currency system to be...
Gold appears to be headed for an impressive price appreciation for the second half of 2012. Since the beginning of July, gold is up almost 10 over the same time frame. What is noteworthy here is that in recent months, fears of a worldwide recession have increased...
Obama and his wife, call for service to replace the motive of profit. Yet if money and profit are so bad, why do those seeking the trillions in redistributed wealth want it so badly?
Associated Press and FoxNews.com reports: Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with Obamacare, even though the man who inherited a fortune from the company's founder is a fan. The company...
Those who benefit from government coercion seldom like it when the gun is turned around and pointed at them. They have no hesitation to demand that government use compulsion for their benefit, but complain when compulsion is directed at them. As an example,...
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