I've worked as an equity analyst and portfolio manager for about eight years now, focusing on international markets. The question that I and most others in my profession are constantly asking ourselves is, "is the market wrong about this?" As a general rule, I think...
POLITICS
The basic and crucial political issue of our age is: capitalism versus socialism, or freedom versus statism. For decades, this issue has been silenced, suppressed, evaded, and hidden under the foggy, undefined rubber-terms of “conservatism” and “liberalism” which had lost their original meaning and could be stretched to mean all things to all men. – AYN RAND
The Religious Right’s Descent into the Anti-Abortion Swamp Will Send Americans Reeling to the Far Left
The race for the Republican presidential nomination resembles a piety test over a single issue: the right to abortion.
The Battle Over the Economy: A Review of Popular Schools of Economic Thought (Part 2)
In my last article, I talked about the contradictory nature of the economic theories representing various schools of thought, and the fact that some of the most useful theories, those of the Supply-side school, are receiving the least amount of attention. Many of the...
The Battle Over the Economy: A Review of Popular Schools of Economic Thought (Part 1)
The rate hike by the Federal Reserve has spurred a lot of discussion and a lot of disagreement about inflation and the economy. While differing opinions in economics have always been a reality, I thought it would be a good idea to clear the air a bit and go over the...
Hollywood: Another Casualty in the War on Drugs
Two hundred eighty-six million dollars last year. This year, $1.6 billion goes from the United States to Colombia to fight the "war on drugs." "Clinton spent more federal money in the war on drugs in his first four years than was spent during Reagan's and Bush's 12...
A Sin to Deport Elian Gonzalez
It would be a sin to deport Elián Gonzalez. To send a child to rot in the prison of Cuba for the alleged sake of his own well-being is criminal hypocrisy. To send him there in order to preserve his father's rights is absurdity, since there are no parental or other...
Hollywood should thank Al Gore
THANK YOU, Donna Brazile. If Hollywood is smart, they would send this lady a dozen long-stem red roses. I'll explain. NBC, along with the other major networks, faced an NAACP boycott for failing to increase minority hiring. Under pressure, NBC just agreed to add...
Taiwan: Stumbling in the Dark
Political news shook Taiwan's economy last week. The tumultuous chain of events began with a cancelled power project, led to a cabinet shakeup, a warning to investors, and then a run on the stock market. Afterwards, Taiwan 's recently elected President Chen Shui-bian...
The Life of Six Year Old Elian Gonzalez Is In President Clinton’s Hands
Elián Gonzales, a 6-year-old Cuban boy, found Thanksgiving Day clinging to an inner tube off the coast of Florida, is about to be deported back to Communist Cuba on January 14, 2000, if the United States Immigration and Naturalization Service (INS) has its way. It was...
The INS versus the Founding Fathers: An Interview with Emmanuel Foroglou
Prodos for Capitalism Magazine: America, the Land of the Free, is currently trying to expel a man who defends its highest principles. Why? Because he defends its highest principles! Reason, individual rights, capitalism, and the pursuit of happiness, are not welcome...
Why Racism Persists
"Any Day Now," a weekly sitcom on cable TV's "Lifetime" channel, chronicles the lives of two woman-one black; the other white - who have renewed their childhood friendship that began in Birmingham, Alabama, during the early 1960s. The show featured a special two-hour...
Rapid Climate Change and Human Intervention
The world's climate can change in just a few decades without any human intervention. Jeffrey P. Severinghaus of the Scripps Institution of Oceanography, using a new method of analyzing gases trapped in Greenland ice, showed air temperatures warming rapidly at the end...
Did Britain’s anti-gun laws save ex-Beatle Harrison?
"Thank 'My Sweet L-rd' For Gun Laws." A major newspaper opinion piece led with that headline. Ex-Beatle George Harrison, maintains the columnist, remains alive today only because of England's tough anti-gun laws. A few weeks ago, an apparently deranged man entered...
In Defense–and Against–the Euro
The following letter was sent in reply to John Lewis' article England, The Euro, and Socialist Europe. We present it followed by John Lewis' reply. In Defense of the Euro: Mr. Lewis: Painting Germany as a socialist planned economy that is stagnating is inaccurate....
Government Controlled Medicine: The Destruction of the Physician-Patient Relationship (Part 2)
One of the most tragic effects of state controlled health care is the phenomenomen of "brain drain." No young bright individual, no dedicated physician who has spent years mercilessly studying and mastering his art wishes to be a slave to the government. For a...
George W. Bush’s Prosperity Against Your Purpose
Governor George W. Bush claims prosperity is not enough. Instead, he says, we need prosperity with a "purpose." The crucial question remains: whose purpose? In a free country, individuals are left free to decide their own purpose, so long as they do not impose force...
Y2K problems will be minor
I'm not expecting a Year 2000 cataclysm. I've read a fair amount of literature on the subject, and it largely breaks down into two categories. In the first, you find sober discussions of the details with a conclusion that the problem is largely manageable. Any...
Government Controlled Medicine: The Destruction of the Physician-Patient Relationship (Part 1)
Approximately 2500 years ago Hippocrates, a physician-philosopher and genius from Greek antiquity, put into motion one of man's greatest and noblest achievements-Western Medicine. The inheritors of Hippocrates' rational Art-the physicians of today-are routinely...
In Defense of Martin Luther King III
"What's he really done in life?" A Montgomery civil rights worker posed this question about Martin Luther King III -- the eldest son of legendary civil rights leader Martin Luther King Jr. Pretty heavy thing, being named King III, and now he stands accused of lacking...
John Rocker: Designated Bigot?
"White racism exists," "National Review" editor John O'Sullivan once said, "But its social power is weak. And the social power against it, overwhelming." Too bad white Atlanta Braves relief pitcher John Rocker did not consult with O'Sullivan before Rocker shot his...
Campaign Finance Reform — Needed or Needless?
Question: What is "eating away at the fabric of democracy"? According to Democratic Presidential candidate Bill Bradley, the answer is the impact of special interest money on campaign finance. Ditto for Republican presidential candidate Sen. John McCain, for whom...
Individual Rights and the Essential Nature of Capitalism
Part 3 of 6 in a Series of articles on Capitalism, Free-competition, Antitrust, and MicrosoftThe following article is an adaptation of a lecture Mr. Salsman gave at Harvard University, in May of 1999. The print version has been edited lightly in order to retain it's...
The Department of Justice and Judge Jackson Commit The Crime of the Century
Forget the Lindbergh Kidnapping. The Crime of the Century is Judge Thomas Penfield Jackson's Finding of "Fact" against Microsoft. The 207 page condemnation of Microsoft as a "monopoly" that "hurts consumers," is one of the most egregious violations of individual...
Senator Bradley and the Black Vote
"I was spellbound." A black minister, attending a speech by Democratic presidential candidate Bill Bradley, made this gushing assessment. Bradley addressed 150 black ministers in Los Angeles, at an annual meeting of the Congress of National Black Churches. What caused...
Is it immoral to join a political party?
Q. Is it immoral for an Objectivist to join a political party? Why doesn't the Ayn Rand Institute have its own political party? A. It is not immoral to join a political party, although given the state of the major parties today, it may well be. The reason for this is...
England, The Euro, and Socialist Europe
For years the socialists have been claiming that England should join the single European currency (the Euro) and should follow a central economic policy as voted by all 15 nations. England, we are told, faces dire economic woes if it fails to join the economic "party"...
Clinton-China vs. Taiwan-America: Independence Day’s Meaning Long Forgotten
On July 4, the US celebrated its 223rd birthday with hot dogs, cotton candy, ice-cream and fireworks. There was much self-congratulation but few tributes to the day's real meaning. July 4, 1776 was the day the Continental Congress approved and signed the Declaration...
Clinton, the WTO, and Economics 101
What do the World Trade Organization protesters, President Clinton, and the Microsoft judge have in common? Answer: an almost appalling ignorance of Economics 101. The World Trade Organization, a consortium of 135 nations, met in Seattle to discuss ways to increase...
The Myth of Patient Safety
By demonizing the good name of health care professionals with unanswerable charges, the NAS is blaming alleged problems of the current system on a free market and commercial interests, and advancing the cause of a centralized, socialist health care system.
Are G.I. Janes Unwanted?
"Exodus of female recruits signals trouble for military!" "Military women less likely to advance!" A new Defense Department study on bias in the military prompted these hysterical headlines. For those who thought the military an example of growing fairness and...
‘Capitalists’ Celebrate 50 Years of Communism in China
I've seen numerous broadcasts of news programs on CCTV (the Chinese State-controlled TV channel) via satellite transmission. Even without the benefit of English translation, it is obvious that many of the "news" shows are little more than propaganda--pieces deployed...
Gold and The Economy: An Interview with Richard Salsman
Richard M. Salsman is president and chief market strategist of InterMarket Forecasting, which provides quantitative research and forecasts to guide the asset allocation decisions of pension sponsors, mutual funds, banks, hedge funds, and investment managers. He...
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