Central Planning

When a small child runs around waving their arms saying, “I’m a bird, I’m a bird,” we often will say what a creative imagination they have.

Very often bad and failed ideas do not die, they reappear during periods of crisis in different intellectual garb, and offer “solutions” that would help to bring about some of the very types of crises for which they once again claim to have the answers.

In politics everyone has a plan.

The political and financial establishments of Europe and the United States were taken by almost total surprise and sent into apparent shock when 52 percent of the voters in the United Kingdom chose for their country to leave the European Union (EU). But it is not the end of the world as we know it, and can be a positive sign and example of opposition to unrepresentative and centralized bureaucratic control over people’s lives.

As we witness thousands of Americans attending Bernie Sanders rallies, knowing Sanders identifies himself as a Socialist and promises to govern from that position, it is time for all of us to understand the significance of that and consider what is happening to our Country.

There is no way to describe current Federal Reserve policy other than as monetary confusion and misdirection. In a nutshell, Janet Yellen and the other members of the Fed’s Board of Governors have no idea what to do. Do they raise certain interest rates over which they have some direct influence? Do they keep them at their current rock bottom levels, as they have for the last six years?

One of the great fallacies arrogantly believed in by those in political power is the notion that they can know enough to manage and command the lives of everyone in society with better results than if people are left to live their own lives as they freely choose.

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.

Seeking to surpass San Francisco, Seattle residents are trying to establish the largest ban on low skilled labor in the country. Earlier in the year, San Francisco raised its wage…

The German government is engaging in central planning at its worst: demographic planning.