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.
It was long the case that American presidents held less power on domestic issues than the Congress. The executive branch could only enact the laws of the legislature with a limited tendency to veto. The president’s real power lay in setting foreign policy, as he had much more freedom of action in that arena than on the home front wherein the checks and balances of the Constitution were in full force. That traditional balance has been overridden in the current political system. The fault for this breakdown of traditional magisteria of influence lies with both the executive and the legislative branches.
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.
The American Dream is one of the driving concepts in our country’s national story, one that occupies a special place in the national discourse. It is a sort of national ethos, born out of various statements of the Founding Fathers, particularly Thomas Jefferson’s in the Declaration of Independence: “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
For every 100 mortgages being sold in the United States these days, at least 95 of them have government backing. We’re told America has a free-market economy? Not judging by the government’s involvement in housing, arguably the most important market there is. Most people can go years without needing health care. A healthy adult can go weeks without food. We cannot go one day without needing shelter.
In the 1980s I devoted a lot of effort to debunking a torrent of Green lies about pesticides and herbicides. This was before the Greens latched onto “global warming” which has since become “climate change” and the subject of a recent White House report filled with dire predictions of planetary doom and disaster.
A new book by French economist Thomas Piketty on “Capital in the Twenty-First Century” has recently caused a major stir on the opinion pages of newspapers and magazines. Piketty has resurrected from the ash heap of history Karl Marx’s claim that capitalism inescapably leads to a worsening unequal distribution of wealth with dangerous consequences for human society.
The siren song of independence and national self-determination has sounded once again across Europe. It is a song that holds echoes of a century ago, when the internal force of nationalism convulsed the European empires into world war. Yet, while the song remains the same, the tune has changed.
Few French economists have achieved the kind of adulation Thomas Piketty has experienced recently from the media and the left. Within the context of the American political scene, Piketty’s dour predictions for the future of capitalism and his call for a “utopian” global wealth tax fit perfectly with the left’s frame of an inequality message.
Wouldn’t making it in America be easy if you could just pass laws to put your competition out of business? That’s precisely what’s being attempted by anti-GMO organic activists across America today.
Coming thirteen days after state and federal income tax returns were initially due, Tax Freedom Day, according to the Illinois Policy Institute’s Senior Budget and Tax Policy Analyst Benjamin VanMetre, marks the point in the year when Illinoisans have worked long and hard enough in the aggregate to cover their share of state, federal and local taxes “and can start keeping their hard-earned money.” About a third of Illinois residents’ efforts this year – 118 days’ worth out of the calendar year’s 365, in other words – went just to paying taxes.
Regardless of where someone may view himself along the political spectrum (conservative, libertarian, or modern liberal), there are always a variety of government programs and activities that they either think are not worth the money or should not be the business of government in the first place. Yet, it seems almost impossible to rein in government. It keeps growing in size and scope in one direction after another. Why? And is there any way to reverse it?
Your average government – anywhere in the world – has more resources at its disposal than just about any private company on the planet.
So when a government sets its sites on making a private company’s life miserable – it almost always can. Because it can put the full weight of the Leviathan behind the push – and it is spending Other People’s Money to do it.
The United States and Japan are at the trade negotiation table – for the proposed Trans-Pacific Partnership (TPP). Absolutely excellent. The freer the trade the better – the more the merrier.
The president of the United States has publicly declared that he knows the minimum wage any worker in the United States should earn as an hourly salary: $10.10. Why not $11.11 or $9.99 has been left a mystery. But what the president is sure of is that businessmen clearly are stonehearted money grabbers exploiting some of their workers by not paying them the real value of what their labor is worth.
Natural selection is the gradual process by which biological traits become either more or less common in a population as a function of the effect of inherited traits on the differential reproductive success of organisms interacting with their environment….
The term “natural selection” was popularized by Charles Darwin who intended it to be compared with artificial selection, which is now called selective breeding.
All of this sounds an awful lot like a free market economy. Species are companies — the market, the environment. Only the capitalism evolution timeline is infinitely compressed. It doesn’t take thousands of years for changes to occur — they happen instantaneously, constantly, incessantly. And the price for natural selection changes for the worse are paid just as fast — a good idea today can kill you tomorrow.
The only way to permanently rid a society of a ‘gap’ in either wealth or income is by making everybody equally poor. If nobody has any more wealth than anybody else, then nobody can be ‘wealthy.’