Today’s economy is driven by Washington in more than just determining the location of Maserati dealerships. We see the ramifications of current government policies in numerous obvious ways. Make full-time employment more expensive with required benefits, and suddenly there are more part-time jobs; provide ample benefits and low eligibility standards for defining disabled workers, and suddenly there are more long-term unemployed going on SSDI; keep interest rates at zero, and suddenly there are more elderly workers; end unemployment insurance, and suddenly you see people accepting jobs they were reluctant to take; and as we’ve seen at the state and local level, raise the minimum wage, and suddenly teens are struggling to find work.
Debt is an issue that affects countries all over the world. Almost all countries are in debt as their governments take loans to cover for variations in their tax receipts. Yet while many developed countries such as Greece and Ireland are increasingly facing debt crises of their own, the effect of such debt is not nearly as crippling as it is for developing nations.
A cautionary tale about the pitfalls of bureaucratic incompetence played out in Ireland over the last several days. American country music star Garth Brooks was scheduled to play five concerts in the Croke Park arena, one of the largest venues in the country. In all, 400,000 tickets were sold. That is an astonishing number, considering Ireland’s population is just under 4.6 million. Close to one in ten citizens was planning to attend!
According to the Commerce Department, the economy based on its Gross domestic product–the value of its goods and services–fell at a seasonally adjusted annual rate of 2.9% in the first quarter of this year. That was the largest recorded drop since the end of World War II in 1945!
Convenient transportation has become a staple in today’s society, however, convenience is no longer enough. People need to have access to a ride in real time. Every transportation service is coming up[...]
Hillary Clinton’s memoir, Hard Choices, has failed the one test even the Obama White House cannot rig (or simply chose not to do): book sales numbers. Although the legacy media have commonly characterized sales of her book as lukewarm so far, the numbers are significantly worse than that, considering her name-recognition and public prominence.
Rarely do some of the nation’s most powerful politicians and businesspeople laud banks that report big profits when in fact they have lost billions of dollars. But we’re witnessing this spectacle on behalf of the Export-Import Bank of the United States, which for many decades, and for good reason, has been called by its critics “The Bank of Boeing.” Its charter expires September 30, and a battle over its possible extension is brewing between the political establishment and reformers.
Alexander Hamilton was America’s first Secretary of Treasury under President George Washington. When he first entered office in 1789, America was an agricultural nation of just 4 million still broke[...]
So much blood and treasure was wasted during the long occupation in Iraq that there was a sigh of relief across America when the troops finally left. Yet the end of the American presence has resulted in chaos. Islamist extremists in recent days have been making gains against the Iraqi military, seizing several towns, including the city of Mosul. The sheer rapidity of the collapse of law and order in Iraq led to a lot of hand-wringing in the White House. President Obama finally decided to send a few hundred troops to bolster the beleaguered regime of Prime Minister Nouri al-Maliki. This choice will only serve to further diminish the status of the United States in the region.
The dearth of transplantable organs remains a serious problem in the United States and in much of the world. There are 123,000 Americans currently waiting for an organ. 18 of them die every day because demand continues to exceed supply. The problem has drawn the attention of many activists and policymakers, but sometimes the proposed solutions have proven more unpleasant than the problem. Chief among these unsavory solutions is the policy of opt-out organ donation.
Forty years ago, during the week of June 15-22, 1974, the Austrian School of Economics was reborn during a conference in the small New England town of South Royalton, Vermont. Why was this important? Because the economists of the Austrian School have developed the most persuasive understanding of why only economic freedom can give mankind both liberty and prosperity.
Today, the Manhattan Institute re-released its Obamacare Interactive Map. The map is one of the most comprehensive and useful tools for people looking to determine how Obamacare will affect their healthcare premiums. Presenting data by county, individuals can see just how costly the “affordable” care act is going to be.
For more than two hundred years, practically all of the leading advocates of individual liberty and free markets have assumed that money and banking were different from other types of goods and markets. From Adam Smith to Milton Friedman, the presumption has been that competitive markets and free consumer choice are far better than government control and planning – except in the realm of money and financial intermediation. They have been wrong on this important issue.
A gentle giant just fell. Every person living in Illinois owes Jack O. Roeser an enormous debt of gratitude. The state’s business leaders, politicians, and reporters should hang their heads in shame for not having followed his lead.
President Obama’s own Administration officially reports that the U.S. economy DECLINED by 1% in the first quarter of this year. That follows 1.9% reported total annual growth for all of[...]