On June 24, the Federal Reserve’s Federal Open Market Committee meets to set monetary policy. The conventional wisdom — which is almost always accurate in this area — is that the FOMC will cut the federal funds interest rate by at least 25 basis...
POLITICS
Eliot Spitzer Should Investigate Paul Krugman
I have an idea for Eliot Spitzer. As you know, the New York state attorney general has been crusading against stock research tainted by investment-banking relationships. He has fined Wall Street billions and ruined the careers of superstar analysts. So why...
Patriotic Books for Children
Giving kids a better grasp of what America means usually begins with a good book. The combination of appealing pictures and exciting ideas may spark a young person’s interest to learn more about a topic. Several classic children’s books offer reasons to...
In Defense of Property Rights: The Challenge to Zoning Advocates (Part 6 of 6)
Zoning proponents have presented zoning as the solution to many of the “problems” confronting Houston. At a time when the nation, and indeed much of the world, is rejecting government programs as the solution, zoning advocates endorse a massive government...
In Defense of Property Rights: The Freedom to Choose (Part 5 of 6)
In contrast to the advocates of zoning, who hold that society may force its values upon individuals, we repudiate the initiation of force in human affairs. We assert that each individual is a sovereign entity, that each individual has a moral right to pursue his...
Eco-nomics: What Everyone Should Know About Economics and the Environment
Disagreement with the world’s environmentalist wackos doesn’t mean that one is for dirty air and water, against conservation and for species extinction. Dr. Richard Stroup, Montana State University professor of economics and senior associate of the Center...
In Defense of Property Rights: The Effects of Zoning (Part 4 of 6)
In the months since the November 1993 zoning referendum, zoning advocates have launched a number of accusations against their opponents. Zoning opponents, pro-zoners said, were dishonest and unprincipled. They resorted to lies, misrepresentations and scare tactics to...
Drugs and Politics: Prescription Drug Benefits for the Elderly
In the midst of a bipartisan stampede toward “prescription drug benefits for the elderly,” someone needs to ask the question: Why should seniors be singled out to be subsidized by the taxpayers, except that their votes are being sought by both parties? We...
In Defense of Property Rights: The Nature of Zoning (Part 3 of 6)
The purpose of zoning, and its sole reason for existing, is to give government control over the use of all land within the community. While the rightful owner remains responsible for that property, the government will determine how that property is used. Under zoning,...
Investing in Technology Services
Our story thus far. . . . After rising from 777 in the summer of 1982 to more than 11,000 in the spring of 2000, the Dow Jones industrial average declined for three years in a row, descending to 7524 on March 11, just before the start of the Iraq war. Then stocks...
The Legacy of Eric Hoffer
The twentieth anniversary of the death of Eric Hoffer, in May 1983, passed with very little notice of one of the most incisive thinkers of his time — a man whose writings continue to have great relevance to our times. How many people today even know of this...
In Defense of Property Rights: Attacks on Property Rights (Part 2 of 6)
In 1980 City Council passed an ordinance which, among other things, limited the size and location of outdoor signs and billboards. Advocates of the ordinance referred to Houston’s abundant sign population as “visual pollution” 1 and “a...
How the Democrats Lost Power
Having grown up in an era when Republicans were seemingly condemned to permanent minority status in Congress, I have some sympathy for Democrats, who appear to be in a similar predicament today. There were a number of factors that cemented the Democratic majority from...
In Defense of Property Rights: The Right to Property (Part 1 of 6)
Over the past fifteen years, Houstonians have witnessed nearly constant attempts to place controls on the use of private property. These efforts have taken many forms — restrictions on billboards, prohibitions on indoor smoking, the landscaping ordinance, and...
Bush’s Medicare Plan is Hillary Clinton’s Triumph
This week, at President Bush’s urging, the GOP-controlled Congress is likely to approve a bill that severely restricts seniors’ freedom of choice in health care. When Congress passes the Medicare bill — which Bush has promised to sign — every...
The Virtues of J.K. Rowling’s Harry Potter
Americans have had the book’s release date marked on their calendars for months. It’s Amazon’s top seller. When it’s finally available, many of us will rush to stores to purchase a copy, then fight over who gets to read it first … with...
Physicians are Not Criminals; But Businessmen
The following is an excerpt of an address given by CAC Chairman Nicholas Provenzo to the doctors of the Colorado Medical Society on May 04, 2003. Ladies and Gentlemen, Good Morning. I thank you for your kind attention this morning and I thank the staff and directors...
Random Thoughts for June 2003
Random thoughts on the passing scene: If there was affirmative action in golf, nobody would give Tiger Woods half the credit he gets — and deserves. Would you prefer to have a “compulsory” health care system imposed on you and your doctor or to have...
Martha Stewart is Treated Badly Because She is Successful
To the cheers of many onlookers Martha Stewart was indicted last week for making false statements about her alleged involvement in the ImClone insider trading scandal, which has just recently landed the former CEO of that company in jail for seven years....
Last Minute Gifts for Dads Who Read Books
If the latest gadget or a pair of socks isn’t likely to tickle your Father’s fancy, a classic book may be perfect for Dad on Father’s Day. As Mark Twain once said: “The man who does not read good books has no advantage over the man who...
Is This The America We Want
Oreo cookies should be banned from sale to children in California. That’s according to Stephen Joseph, who filed a lawsuit against Nabisco last month in California’s Marin County Superior Court. Oreo cookies contain trans fat, an ingredient that makes the...
The DOJ’s Case Against Mountain Health Care Demands Challenge
It’s been nearly three months since public comments were filed in the Justice Department’s antitrust settlement with Mountain Health Care. Nicholas Provenzo submitted comments on the Center for the Advancement of Capitalism’s behalf, while I...
Learning from the Mistakes of Oslo
Can the “road map” that President Bush just launched do better than the dismal failure of prior Palestinian-Israeli diplomacy? Yes – if it avoids making the same mistakes. The failure of the last round was foreshadowed at its very start, on Sept. 13,...
Moats and Investing
“All happy families resemble one another, but each unhappy family is unhappy in its own way,” wrote Tolstoy in “Anna Karenina.” You could say the same for stocks. All happy stocks are pretty much alike, while unhappy stocks lose their value for...
Old Europe Grows Older
The handshakes in Evian were polite. The conversations were civil. Unlike the tens of thousands of European demonstrators who took to the streets to protest, none of the presidents or prime ministers at last week’s Group of Eight summit in France raised his...
Accountability in Sports–and Teaching
Major league umpires are complaining about an electronic device that is being used to check how accurately they are calling balls and strikes. They say that the device itself is too variable to be relied on. Whatever the merits of each side in this issue, it all...
New York Times and the Child Tax Credit
Conservatives everywhere were celebrating last week with the announcement that Howell Raines was forced out as executive editor of The New York Times. Raines had pushed the paper yet further to the left and had done so in ways that were intended to be as irritating to...
Star Wars: Why We Need a Missile-Defense System
Let’s face it: Perfect safety doesn’t exist. No matter what we do, there will always be those who want to kill us because they hate our freedoms, because they hate freedom, or just because they hate Americans. That’s why we need a missile-defense...
The Fat Police and Mandatory Menu Labels
The fat cops are on the prowl again. Not content with the current spate of obesity-inspired lawsuits, “nutrition” interests have taken to the state legislatures, looking to pass “menu labeling” laws that will pave the way for, yes, even more...
Codependence
“Codependent” basically means taking too much responsibility for somebody else, materially and/or psychologically. It means a lack of personal boundaries, a willingness to sacrifice yourself to help somebody else (even if the sacrifice is unwanted or...
White Guilt, Black Exploitation: The National Slave Memorial Act
Few Americans have heard of the National Slave Memorial Act (HR 196) that proposes to erect a National Slave Memorial on the National Mall in Washington, D.C. Last year, Sen. Trent Lott made this suggestion whilst groveling at the feet of black politicians and civil...
Blaming Tax Cuts for the Problems Inherent in Goverment Spending
On May 29, London’s Financial Times reported some startling news about the U.S. national debt. Instead of being about $3.5 trillion, as commonly understood, it was actually $44 trillion, according to a suppressed Treasury Department report by economists Kent...
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