Since the economic downturn of 2008, the critics of capitalism have redoubled their efforts to persuade the American people and many others around the world that the system of individual freedom and free enterprise has failed.
In today’s edition of The Heartland Daily Podcast, H. Sterling Burnett, managing editor of Environment & Climate News speaks with E. Cal Beisner of the Cornwall Alliance. Beisner joins Burnett to discuss the nexus between ethics and environment issues and where he believes Pope Francis has gone wrong.
Last year (2014), China overtook the United States in gross domestic product adjusted for purchasing power (GDP-PPP, see point 4 for explanation), according to both the International Monetary Fund (IMF) and the World Bank (Note 1). It may come as a surprise, but this is really a matter of China simply reasserting its position as the world’s largest economy, which it had lost around 1890 to the United States. This is based on estimates developed by the late legendary economist Angus Maddison of the Organization for Economic Cooperation and Development (OECD).
When is the price of some marketable good or service at or near zero? When either the supply of it is so plentiful that virtually any demand, no matter how great, can be satisfied. Or when no matter how large or small the supply of it may be, people’s demand for it is so low that nobody is willing to practically pay anything for it.
In today’s edition of The Heartland Daily Podcast, H. Sterling Burnett, managing editor of Environment & Climate News speaks with Norman Rogers. Rogers is a Heartland policy advisor and high tech businessman. Rogers joins Burnett to discuss climate change and the dangers of EMPs, or electro magnetic pulses.
Labor unions are fighting hard to maintain the power to force people to join unions as a condition of work. In June, Gov. Jay Nixon, Missouri Democrat, vetoed a bill banning forced union membership and forced union dues payments in the workplace, and the legislature just upheld his veto.
The Middle East is imploding. Islamic State butchers are annihilating Christian and other communities. Putin is sending arms to Assad. Under the Obama-Iran nuclear deal, the mullahs will get $100+ billion to expand their proxy terror war on Israel and the West. Saudi Arabia has 100,000 empty air-conditioned tents but won’t take any of the millions who’ve been driven from their homes. Neither will most of the other 22 Arab League nations or 57 Organization of Islamic Cooperation member countries.
Quite a few GOP 2016 presidential candidates have responded “I am not a scientist” which may come back to haunt them in the future. This GOP response is unsatisfactory because political candidates should be aware of important issues. In particular about climate change; where the Democrat Party’s response is overturning our entire energy supply system by abandoning our abundant, inexpensive, and geographically distributed fossil fuels of coal, oil, and natural gas. The U. S. is the most blessed nation on the planet with abundant fossil fuels.
A recently released study claiming to have found a statistical association between hydraulic fracturing and hospitalization rates in Pennsylvania has been popular in the news. However, just about every aspect of this study is problematic, rendering it to the realm of speculation, not science.
It’s common for people to misunderstand or misconstrue the difference between acknowledging the failure of the ethanol mandate to deliver on its promises of materially increasing energy independence or lowering prices for consumers, and being “anti-ethanol.” It’s entirely possible to see advantages of using ethanol without believing it should be mandated, just as it is possible to see the advantages of having a health insurance policy without supporting Obamacare. All mandates have unintended consequences.
With the seventieth anniversary this year of the end of the Second World War, a number of commentators have focused on the presumed “unity” of America seven decades ago to “win the war” against global tyranny and international aggression by Nazi Germany and Imperial Japan. Individuals put aside their individual personal and petty interests to support and fight for a “greater collective cause.”
In today’s episode of The Heartland Daily Podcast, managing editor Jesse Hathaway talks with Mercatus Center monetary policy program director and Bentley University economics professor Scott Sumner about the American stock market’s recent up-and-down volatility, the increasing threat of an international economic recession, and how our country’s centralized banking policies make the problem worse.
So how do White House, EPA, UN, EU, Big Green, Big Wind, liberal media, and even Google, GE and Defense Department officials justify their fixation on climate change as the greatest crisis facing humanity? How do they excuse saying government must control our energy system, our economy and nearly every aspect of our lives – deciding which jobs will be protected and which ones destroyed, even who will live and who will die – in the name of saving the planet? What drives their intense ideology?
The U.S. territory of Puerto Rico owes more than $70 billion—about $19,729.43 per resident—in debt to creditors and investors. First to note the territory’s fiscal problems were the credit rating agencies, which downgraded the territory’s bond status to “speculative,” the first of three steps along the junk-bond path to loan default.
In today’s edition of The Heartland Daily Podcast, we listen in as Heartland Senior Fellow Peter Ferrara joins The Larry Kudlow Show. Ferrara is the author of the recently released book on entitlement reform titled Power to the People. Ferrara and Kudlow discuss the potentiality and likelihood of a 4% growth rate in America.
There is little that happens in society in general and the market economy in particular that most on the political “left” do not think needs more government intervention, regulation, and redistribution to make “better.”
In a recent article promoting his Protect Our Public Lands Act, Rep. Mark Pocan (D-Wis.) argues the government should ban hydraulic fracturing on public lands. Pocan cites concerns about potential environmental and economic impacts of horizontal hydraulic fracturing, also known as “fracking,” and raises concerns about fracking in national parks. The article has critical shortcomings regarding the environmental and economic impacts of fracking, and it misrepresents oil and gas activity in national parks.
Obama’s use of the unemployment rate as a weapon to inflict political damage on Republicans is nothing new. For most of Obama’s presidency, he’s been touting his economic policies and how successful they have allegedly been at reducing unemployment rates (when in fact all recession recoveries reduce unemployment rates), all the while intentionally misleading people about what the unemployment rate actually represents.
Sand from the upper Midwest is coveted for hydraulic fracturing. It is the right size, shape and cleanness (almost pure quartz). It is also highly resistant to crushing under immense pressure, acting as a network of pillars (think of the Parthenon) keeping open the tiny fissures made in the rock in the process of hydraulic fracturing, allowing the oil and natural gas to flow up from the rock deep underground.
For months, now, the mass media and the financial markets have anxiously watched and waited to see the outcome of a war of words, accusations, and threats that have been fought between Greece and its Eurozone and European Union partners.