EDITORIAL Showing 1601 - 1650 of 1917
Free Speech Is a Basic Human Right
March 05, 2011
The New York Times reported recently that "John Galliano, the talented and troubled designer who was fired by the fashion house Christian Dior for making anti-Semitic remarks in a drunken rant at a bar, will be put on trial for the offenses, the Paris prosecuto ...
Tunisia's Free Trade Revolt
March 03, 2011
In many circles it is a prominent mantra that property rights are not human rights. The rights to private property and to trade it are treated by many political thinkers and jurists as far from binding on us. So, for example, the US Supreme Court ruled in 2005 ...
Multiple Universes Anyone?
March 02, 2011
An issue that has puzzled many philosophers and cosmologists is whether there is just one universe or might there be many. On first inspection the puzzle appears to be bogus. After all, by "universe" is meant "everything that is." Other terms used for this are ...
Congress Must Reject the Welfare/Warfare State
March 01, 2011
During the past few weeks, Congress has been locked in a battle to pass a continuing resolution to fund government operations through September. Both supporters and opponents of the bill, HR 1, claim it is a serious attempt to reduce federal spending. However, ...
The Sleep of Reason Produces Monsters*
March 01, 2011
In basic reasoning courses one learns that certain ways of thinking are fallacious, others are sound. Sadly, most students don't actually remember much of what they learn here because these courses are taught too early in their college years, just at the time t ...
Morgan Opens Gold Window
March 01, 2011
Earlier this month, J.P. Morgan made an important announcement that received scant coverage in the media: the bank would now accept gold as collateral for loans. The move appears to have been well-timed, for in the ensuing weeks, the price of gold and silver cl ...
What Friends of Freedom Can Learn from the Socialists – To Win Freedom!
February 28, 2011
On March 14, 1883, a German philosopher living in exile in London passed away. When he was buried three days later in a modest grave where his wife had been laid to rest two years earlier, fewer than ten people were present, half of them family members. His clo ...
Reflections on Capitalism – Part III
February 28, 2011
Why are they not celebrating the nobility of the entrepreneurial spirit and the power of the liberated mind to accomplish "miracles?" Why are they not championing such life-serving virtues as independence, productive ambition, competence, self-responsibility, s ...
Reflections on Capitalism – Part II
February 26, 2011
The first thing I would say about her is that she operates consciously. And the next thing I would say is that she stands outside traditional moral categories: She is an exponent of rational or enlightened self-interest - a possibility that is not even acknowle ...
Democrats Against Democracy?
February 26, 2011
Am I alone in finding the Wisconsin Democrats who have been AWOL anything but democratic? Sure, they weren't doing anything illegal like soldiers who go absent without leave. But that's a legalism that makes little difference here. What counts is that these D ...
Reflections on Capitalism – Part I
February 25, 2011
A few years ago, I received a telephone call from a young female Ph.D candidate in psychology. She learned that I would be lecturing at a conference in S. Carolina, which she would be attending, and she wanted to meet me there - to discuss my becoming a consult ...
Washington's War & Middle East Policy Racket
February 24, 2011
US Marine Corp Major General Smedley Butler accurately described in his book, "War Is A Racket" how the American military is often forced to make war far more for Wall Street and big corporation profits than the false reasons usually provided for the conflict. ...
Are Public Unions Unjust?
February 23, 2011
Bona fide Labor unions work within a free market system where firms compete for customers who are normally able to switch from sellers of wares and services if they want to. Public works are noncompetitive, however. Workers who belong to public unions conduct t ...
Central Economic Planning at its Worst
February 22, 2011
Last week, the Financial Crisis Inquiry Commission (FCIC) presented its results to the Financial Services Committee. As with most other politically-appointed commissions, the results of the FCIC's investigation were easy to predict. Established by the same cong ...
Krugman and Bias
February 18, 2011
In a recent column Princeton economist a regular New York Times columnist Paul Krugman claims that the economics profession - including the editors of scholarly journals and the staff at econ departments - is fraught with bias. This is a serious charge, impugni ...
Silver and Opium
February 17, 2011
The opium wars do not belong to the glorious episodes of Western history. Rather, they were instances of shameful behavior the West still has not lived down. Mercantilist governments resented the perpetual drain of silver from West to East in payment for Orient ...
Where Multiculturalism is OK
February 17, 2011
It is reported that France's, England's and Germany's leaders have issued an announcement claiming that multiculturalism is a failure. But are they right? Or perhaps it is more likely that implementing multiculturalism the way it has been tried in these and man ...
Holding One's Nose for Principles
February 16, 2011
One of the difficulties with standing on principle is that often one is defending them when they are practiced by bad people. Or when bad conduct is involved. In both kinds of cases one may have no sympathy at all for the specific but still finds it important t ...
Deception at the Fed
February 15, 2011
For the past three decades, the Federal Reserve has been given a dual mandate: keeping prices stable and maximizing employment. This policy relies not only on the fatal conceit of believing in the wisdom of supposed experts, but also on numerical chicanery. Rat ...
The Two Faces of Ben Bernanke
February 15, 2011
Based on his recent public comments, Fed Chairman Bernanke seems determined to give the U.S. dollar the reputation of Egypt's Hosni Mubarak: an unwanted relic of the past that everyone agrees must go, but stubbornly clings to a privileged position. The dollar i ...
Besmirching Libertarianism
February 09, 2011
Now that libertarianism has gotten some publicity in mainstream forums, those who are convinced of its merit have much work to do. This is because of the well publicized distortions of the position in prominent forums, especially by well credentialed academics ...
Our 30 Year Mistake
February 08, 2011
The events in Egypt of late have captured the attention of the world, as many thousands of Egyptians take to the streets both in opposition to and in favor of the current regime. We watch from a distance hoping that events do not spiral further into violence, w ...
Knowing Versus Imposing What's Ethical
February 08, 2011
Among those who champion human liberty – the sovereignty of every adult when it comes to managing one's own life – some hold that if one could know what good conduct amounts to, one would be authorized to impose it on others. Among those who thought this wa ...
Forcing Us To Do What We Choose Not To Do
February 07, 2011
Over the last couple of years many conservatives have argued against President Obama's health care program on the grounds that it unconstitutionally forces citizens to purchase something they may not want. Imposing this kind of force conduct, they have argued, ...
The Simple Truth About Gold Leverage Programs
February 03, 2011
A lot of people ride motorcycles, but there's a reason most don't try to be Evel Knievel. Sure, there's a big reward if you can land a jump over 14 school buses – but what if you don't? A new craze among our competitors is to push gold buyers into "leveraged ...
Democracy Wont Help Egypt
February 02, 2011
Even without being a Egyptologist I can say with reasonable certainty that it will not help to solve Egypt's problems to make it into an unlimited democracy. What we are likely to get is Lebanon with the heavy hand of Hamas in charge there. In Egypt it looks li ...
Bring Back, Bring Back, Oh Bring Back My Gold Bond To Me
February 01, 2011
"The mountains went into labor and gave birth - to a mouse! This ancient quotation could be cited to characterize the publication of the long-awaited Financial Crisis Inquiry Report on Thursday, January 27, commissioned by an earlier Congress. Another character ...
The Fed and Job Creation
February 01, 2011
Unemployment continues to plague our economy. In spite of constant claims that we have just turned the corner into recovery, the jobs reports remain grim with no real signs of improvement. While Keynesian economists and big government apologists scratch their h ...
Obama is a Socialist – A Crazy Thought?
January 29, 2011
Right after President Obama's state of the union address several Republicans, mainly of the Tea Party faction stated that he is a socialist. This isn't the first time the claim has been made. Indeed, based on his early schooling the idea that he may well be one ...
Government Regulations: Demeaning and Costly
January 26, 2011
Every time I am dealing with an organizations like the omnipresent TIAA-CREF - which seems to have a monopoly on handling retirements at colleges and universities across the country - I am put through a labyrinth of bureaucratic procedures. With each turn, of c ...
On Real Respect for the Constitution
January 25, 2011
I am pleased that the Constitution has received a lot of attention in recent weeks, thanks to the tea party movement. The 112th Congress kicked off with a reading of the Constitution on the floor of the House. It goes without saying that Members of Congress sho ...
The Insanity Defense Debate
January 24, 2011
The New York Times blog featured a debate recently, in the wake of the Tuscon massacre, among several people on the insanity defense. One of the debaters, Kent Scheidegger, wrote a comment that included a point that's often proposed but that needs some amendmen ...
Civil Discourse Revisited
January 22, 2011
We were having lunch and the topic of how to frame a friendly, productive holiday conversation about politics and such came up. I had been thinking about what role a host might play in upholding standards of civility and what one can do if things get a bit ugly ...
State Secession or Washington Debt Depression
January 20, 2011
Everyone with any intelligence in the US and around the world knows that there is no way for Washington to manage the tens of trillions in debt and unfunded liabilities short of ultimate repudiation or hyperinflation. Thanks to Wall Street bankers and the Anglo ...
China's Inflation Problem Looms Large
January 20, 2011
The global economy has become so unbalanced that even government ministers who would normally have trouble explaining supply or demand clearly recognize that something has to give. To a very large extent the distortions are caused by China's long-standing polic ...
Confessions of a Refi Junkie
January 20, 2011
No, I am not actually a junkie of any sort but I sometimes feel like it when I reflect upon my history of borrowing funds against the estimated value of my home. You see, I have been trying to encourage my and my children's various endeavors, just as many other ...
There Is No Business Like Bond Business
January 19, 2011
For some nine years I have been predicting that the economy is going to a recession morphing into a depression, using a purely theoretical argument. The essence of my argument is that the open market operations of the Fed cause a protracted decline in interest ...
On Gun Control and Violence
January 18, 2011
The terrible violence in Arizona last weekend prompted much national discussion on many issues. All Americans are united in their sympathies for the victims and their families. All wonder what could motivate such a horrible act. However, some have attempted to ...
Stupid Wager or Clever Prestidigitation?
January 18, 2011
"Heads – you win; tails – I lose." Such is the message the Fed sends to bond speculators. But why would the Fed offer such a stupid wager? Read on. The Fed is trying to bribe bond speculators with risk-free profits. That's how the Treasury/Fed check-kiting ...
Krugman's Incoherent Moral Stance
January 17, 2011
Finally Paul Krugman, Princeton University Nobel Laureate in economic science and columnist for The New York Times, has come clean about his "moral" position (TNYT, January 14, 2011). He has admitted that he doesn't believe that when you earn something, you own ...
An Extremist and Proud of It
January 13, 2011
Yes, I am that for sure, an extremist. I am totally against taxes, consider them extortion. I think all government regulations are vile, cases of prior restraint and thus unjust. I think a government has only the function assigned to it in the Declaration of In ...
Gold and Honey
January 12, 2011
Open letter to Thomas Hoenig, President, Federal Reserve Bank of Kansas City. Dear President Hoenig, On January 5, 2011, you were quoted on ABC NEWS as saying that "the gold standard is a very legitimate monetary system". The quotation went on: "We are not goin ...
It's a Massacre, Stupid
January 12, 2011
What happened in Tucson, AZ, was a massacre and not a tragedy. Perhaps some view this a pedantic detail but it isn't - words do have meaning and a tragedy, as anyone familiar with ancient Greek literature or a bit of Shakespeare will testify, takes place when b ...
Toward Sensible Monetary Policy
January 11, 2011
Last week the 112th Congress was sworn in. I am pleased that I will be chairing the Monetary Policy Subcommittee of the Financial Services Committee, which has oversight of the Federal Reserve. Obviously, this position will facilitate my efforts to ensure the F ...
What's the Matter With Money?
January 10, 2011
There is nothing new about all the badmouthing of money we witness so often in our culture and political environment. Not only do we find many of the literati railing against money, even while some of them eagerly urge their agents to negotiate hefty deals for ...
Somerset Maugham & I
January 07, 2011
My most enjoyable and rewarding reading time has been with W. Somerset Maugham. Even the works that annoy me are a pleasure to read, not to mention the many very entertaining books, short stories and essays he has penned that are dear to me. What it is about M ...
How to Use the Constitution
January 06, 2011
Many in the just seated House of Representatives have been clamoring for a return to the Constitution. This is what appears to underlie to planned challenge to Obama care, the massive piece of legislation that President Obama has been eager to make a part of th ...
Recipe for a Successful 2011
January 05, 2011
The year 2011 brings in a host of opportunities and challenges to America. Will we accelerate toward economic insolvency by continuing the policies that have created this crisis, or will a new Congress elected on the energy of the Tea Party movement find the co ...
Forever Stamps Tell Us Much
January 04, 2011
The United States Postal Service announced this week that all future first class postage stamps sold will be the so-called "forever stamps" that have no face value but are guaranteed to cover the cost of mailing a first class letter, regardless of how high that ...
Reexamining Democracy
January 04, 2011
Over the last several decades of American political life the idea of liberty has taken a back seat to that of democracy. Liberty involves human beings governing themselves, being sovereign citizens, while democracy is a method by which decisions are reached wit ...
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