This time of the year, whether in good economic times or bad, is when Americans gather with their families and friends and enjoy a Thanksgiving meal together. It marks a remembrance of those early Pilgrim Fathers who crossed the uncharted ocean from Europe to make a new start in Plymouth, Massachusetts. What is less appreciated is that Thanksgiving also is a celebration of the birth of free enterprise in America.
Over the last several decades, trial lawyers have found increasingly “creative” ways to use the legal system to enable themselves to cart off huge portions of legal settlements for themselves. Some of these high profile abuses made headline news, such as the class action exploitations of the 1990s. But actually being required to take a case to court does come with expense, and wanting to enhance their riches trial lawyers have found some new legal system weaknesses to exploit for less out of pocket expense.
Keynesians never seem to learn. Every time an economy slows down or reverses gears and “goes negative,” in terms of growth and employment, their only answer is a call for “aggregate demand” stimulus and more government spending manipulation.
Arguably the single most successful endeavor undertaken by Congress in the past 20 years was its effort to enact significant reform of the U.S. welfare system. Even greater success is possible, with simple steps that states can take to help millions of impoverished people transition from government dependency to the freedom and self-sufficiency provided by a high-quality job.
Important attention has been drawn to the shameful condition of middle income housing affordability in California. The state that had earlier earned its own “California Dream” label now limits the dream of homeownership principally to people either fortunate enough to have purchased their homes years ago and to the more affluent. Many middle income residents may have to face the choice of renting permanently or moving away.
For decades, the quality of life of the incoming generation of Americans has built on and improved on that of the previous generation. According to new data released by the United States Census Bureau, however, that is not the case for the current incoming generation, the Millennials. They have government to blame for their rotten economic conditions.
In the Hunger Games franchise of movies and young-adult novels, political power is concentrated within the Capitol; citizens there revel in pageantry and pomp while their fellow Americans suffer from the dire, impoverishing consequences of the government’s policies. That same sort of sedimentation of power and money into the nation’s capital is happening in the current-day United States.
Behavioral psychologists and economists have considered incentives to be a normal part of human nature for decades, if not centuries, but applying them to education still stokes controversy. For example, some people recoil at the idea of paying kids and their teachers for high scores on Advanced Placement tests that get students college credit in high school, as some schools in Northern Virginia are doing,
Americans recently celebrated Independence Day—the day the Continental Congress formally adopted the Declaration of Independence and announced the 13 American colonies regarded themselves as sovereign states no longer part of the British Empire and subject to its rules and taxes.
President Obama seems committed to forcing the minimum wage up through federal intervention. If he succeeds, it will only damage the economy further, resulting in higher unemployment and less growth. Here are four reasons a minimum wage is a bad idea.