Government |
Some time ago, I had a heated argument with a colleague of mine on
how to treat our students. His considerable experience as a
pedagogue had taught him that…
Immigration |
Last week I examined two myths about immigration. We can see how
our culture of political correctness put new clothes on old
arguments. A century ago…
Immigration |
"There are real problems about permitting unrestricted immigration
into a welfare state," wrote Milton Friedman in the late 1970s.
"It's one thing when people…
Economy |
One lesson we could have learned from the Weimar Republic and the
rise of Hitler is that "political freedom cannot be preserved
unless inflation is kept in…
Economy |
Last week I noted how Paul Volcker, almost accidentally, ended up
in the hot seat as the Federal Reserve chairman. He immediately
assaulted inflation by…
Economy |
In theory our central bankers are independent from the government.
In practice the Federal Reserve is under constant pressure from the
president and Congress.
Economy |
In
The Great Inflation and Its Aftermath
, Robert J. Samuelson noted how a whole generation of "new
economics" experts infiltrated the White House, Congress, and…
Economy |
Last week I stopped my narrative at the point where LBJ was forced
to fight a war on many fronts against the destructive forces of
inflation. In his book
The…
Economy |
Last week I noted how President John F. Kennedy bequeathed to his
successors a team of economic "experts" confident that they could
eliminate the business…
Economy |
"Those who don't know history are destined to repeat it." This
warning from the 18th century Irish philosopher Edmund Burke
explains why our generation is…
Economy |
"We used to think that you could spend your way out of a recession
and increase employment by cutting taxes and boosting government
spending. I tell you in…
Economy |
It was during the Great Depression that John Maynard Keynes found
what he believed to be an explanation for the crisis of capitalism.
He boldly proclaimed…
