EDITORIAL Showing 1701 - 1750 of 1936
The World Shorts the Dollar
November 17, 2010
A remarkable confluence of recent events has brought unprecedented but very welcome attention to both U.S. monetary policy and the global political economy in general. First, Federal Reserve Board Chairman Ben Bernanke recently announced that the Fed would emba ...
Private vs. State Schools & Free Speech
November 17, 2010
Much fuss is afoot now about how various schools, especially colleges and universities, are dealing with the airing of controversial topics. Although by my count this isn't some kind of epidemic, in several schools the administrators have decided they do not wa ...
Besmirch & Divert
November 12, 2010
Ever since President Obama took office, his proposed public policies have been defended doggedly by all those who favor an increasing large scope for the federal government. Health care/insurance is just one of these policies but, of course, his way of dealing ...
Entitlement Foibles
November 11, 2010
Gloating as they are too often wont to do, modern welfare state liberals are eager to point out that when it comes to proposing cuts in government spending, many who advocate it will not be specific. Even more telling, the liberals hold, is the fact that few if ...
A Return to the Gold Standard?
November 09, 2010
Over the weekend of November 6-7, 2010, World Bank president, Robert Zoellick , proposed in a column written for the Financial Times that the global economy once more be linked to gold as an anchor to help maintain currency stability and reduce inflationary exp ...
Reject the Welfare/Warfare State
November 09, 2010
Last week's midterm elections have been characterized as a victory for grassroots Americans who are fed up with Washington and the political status quo. In particular, the elections are being touted as a clear indicator that voters demand reductions in federal ...
Tree Hugger Hypocrisy
November 09, 2010
I live in Silverado Canyon, about 7 miles east of Irvine Lake in Orange County, California, and it is a very pleasant place except for the fact that there is a small group of residents who want to dominate the place with their personal life style. They are bent ...
Yes! PBS (and NPR) Ought to Go!
November 06, 2010
ctually, I don't care how Let wing any national medium happens to be, so long as I am not forced to pay even a penny for its upkeep. There are dozens of very prominent magazines with a Left wing editorial policy – The Nation, Progressive, Mother Jones, Utne R ...
Two Cheers for the Gridlock
November 04, 2010
On one of those few occasions that I have managed to rub elbows with a hero of mine, I caught Milton Friedman on a TV program endorsing the gridlock in Washington during a recent administration – I believe it was President Bill Clinton's second term. One poin ...
More Real Bill Fallacies
November 03, 2010
In the first article of my two-part series on the Real Bills Doctrine (RBD), in commenting on the Daily Bell's interview with Professor Lawrence H. White on October 10, 2010, I made the central point that the source of commercial credit is not saving but consum ...
Saudi Arms Deal is About Iran
November 02, 2010
This month the US Administration notified Congress that it intends to complete one of the largest arms sales in US history to one of the most repressive regimes on earth. Saudi Arabia has been given the green light by the administration to spend $60 billion on ...
The Observers
November 01, 2010
Many contemporary intellectuals have a problem. They are theoretically committed to the idea that they can be no more than observers of human life and make no value judgments about it. This is because the philosophical basis for evaluating people, their conduct ...
Real Bills and Gold
October 30, 2010
The Daily Bell published an interview with Dr. Lawrence H. White, Professor of Economics, George Mason University, on October 24, 2010. One of the questions the interviewer asked was this: "Please comment on real bills and how they work." In his answer Professo ...
Equality Is Only a Cheap Dream
October 30, 2010
Two academic researchers, both of them psychologists, have recently rekindled all the fuss about inequality of income in the United States of America. Mostly this topic has been the province of political philosophers, economists and theorists, many of whom have ...
Is There Life After Sudden Death of the International Banking System?
October 28, 2010
The debate on the Real Bills Doctrine (RBD) within the sound money movement is important because the international banking system, financing world trade as well as domestic trade, is facing its greatest challenge in all history. Indeed, it may succumb to the su ...
Charity and Generosity That Aren't
October 28, 2010
In a recent stump speech urging people to keep Democrats in power, President Obama told his audience that America is a country based in large measure on the principle that "we are all our brothers' keepers." This is not true, but even if it were and even if tha ...
Democracy and Human Rights
October 27, 2010
Tim Snyder made a very important observation on democracy and human rights in a recent piece for The New York Review of Books. He wrote, "As important as democratic procedures might be, opponents of communism in Eastern Europe spoke more often of human rights. ...
Government and Job Creation
October 26, 2010
As the current economic downturn shows no signs of lifting, we hear quite a lot of rhetoric from current and potential office-holders about what government can and will do to create more jobs. This is especially disconcerting to those who understand that the be ...
Anti-Intellectualism Among Animal Rights Advocates?
October 26, 2010
It is only a small sample but it comes from a significant corner of the academic community, a law school where I was invited to give a talk on the debate about animal rights. I did deliver such a talk at the University of Wisconsin, Madison, law school on Octob ...
2010 Is Just Deck Chair Politics on the USS Titanic
October 23, 2010
The political consensus is following the 2010 election, the Tea Partiers and the GOP establishment will breathe a sigh of relief and celebrate their victory and our two-party monopoly system of government will continue as before. A GOP House majority will check ...
Why Obama Doesn't Seem to Relate – Emotionally
October 20, 2010
Most of the time when I hear about how President Obama lacks the emotional disposition that most Americans would like to see him demonstrate, I am disinclined to make much of the point. What I want from someone in the role of the presidency is good thinking and ...
More Inflation Fears
October 19, 2010
Inflation fears are heating up this week as Fed Chairman Ben Bernanke gave a speech in Boston on Friday, causing further frantic flight into gold by those fearful of the coming "quantitative easing" the Fed is set to deliver in November. Others who view gold as ...
The Amorality of Macroeconomics
October 19, 2010
In a surprisingly sensible essay in The New York Times, on Sunday October 17, 2010, David Segal gives a pretty good explanation of why macroeconomics is so unsuccessful. It's human nature, stupid. People just aren't predictable – will they do this or that whe ...
In Defense of the Adversarial System
October 16, 2010
Every once in a while I get sucked into defending the way the legal system aims to secure justice in the criminal law. In particular, why do the accused or suspected criminals get to be defended so vigorously, as if they were always victims of perpetuation rath ...
Yes, There Is Gold at Fort Knox
October 16, 2010
Gold reached a record high of $1,376 per ounce last Thursday morning but I'm writing about Fort Knox because of an unexpected conversation I had the day before with a distant friend. We have known each other for 35 years but have only seen each other once over ...
Absurdities of Atomism
October 14, 2010
Individualism has had its foes over the centuries, mainly because it is a bulwark against some people making use of unwilling others. If one is indeed a sovereign individual, with rights to one's life, liberty, etc., others are morally and would in justice be a ...
Rights and the Self
October 13, 2010
Why did this view become so credible even while people, especially those in the business world, are routinely pursuing a course of conduct that advances not just their but everyone else's profit with whom they trade? Why will the silly zero sum game vision of h ...
A Spooked Economy in October
October 12, 2010
The Fed has been wreaking havoc and devaluing our monetary unit steadily since 1913, and greatly accelerating it since the collapse of the Bretton Woods agreement in the 1970s. This severing of the dollar's last tenuous link with gold allowed the Fed to create ...
The Times' Phony Integrity
October 09, 2010
In its October 6, 2010, editorial, "Lamentable Speech," The New York Times stood up for a hard line stance on the right to free speech. As the editors wrote, "To the American Nazi Party, Hustler Magazine, and other odious figures in Supreme Court history, add t ...
The Cost of Lack of Trust
October 07, 2010
Over the last couple of days a bunch of announcements came from our government, including warning about travel to Europe where terror plans are said to be afoot by Al-Qaeda. Another warning came from the man convicted of trying to blow up Times Square - he said ...
Free Markets Create Jobs
October 06, 2010
In this struggling economy it is essential for politicians to take a step back and think about what government has been doing to business in this country. In less than 200 years, the free market, property rights, and respect for the rule of law took this nation ...
Kate Zernike's Stupid Outrage
October 04, 2010
In a news report on October 2nd, 2010, titled "Movement of the Moment Looks to Long-Ago Texts," New York Times reporter Kate Zernike tells us that books like Frederick Bastiat's The Law, from 1850, and F. A Hayek's The Road to Serfdom from 1944, are selling lik ...
Rejecting Anti-Natural Rights
September 30, 2010
President Obama's friend and former colleague Cass Sunstein, now apparently on leave from Harvard Law School, would have us believe that our rights are granted to us by government. Sunstein and his co-author Stephen Holmes have argued in their book, The Cost of ...
Healthcare Reform: A Huge Misdiagnosis
September 29, 2010
This week marked six months since Congress passed the healthcare reform bill in what has become all-too-typical legislative chicanery. Those in power crafted a mammoth piece of legislation and rammed it through Congress under a dire sense of emergency. Insistin ...
A Misguided Distinction – or Not?
September 29, 2010
When working out what should guide public institutions and policies in our lives and human communities, those who chime in from ancient to contemporary times have advanced various proposals and they have often been divided into two groups. Members of one of the ...
The Donkey in the China Shop
September 28, 2010
President Obama has just issued a blackmail to Prime Minister Wen Jiabao of China: "You immediately revalue the yuan or else..." According to an article of David E. Senger in The New York Times dated September 23, 2010, the two leaders met at the United Nations ...
Why Rip Off The Rich?
September 28, 2010
This fracas about letting the Bush tax cut expire for those making more than the arbitrary amount of $250K per year is bizarre. Never mind for now that the entire system of taxation in a bona fide free country is criminal - not different, in principle, from a s ...
Remobilize Gold to Save the World Economy
September 25, 2010
An open letter to Paul Volcker, Chairman of the Board of Governors of the Federal Reserve, 1979-1987; Chairman of President Obama's Economic Recovery Advisory Board, presented to him, in person, last year. Dear Paul: In 35 years our paths have crossed for the s ...
State Fundamentalism
September 25, 2010
True, the idea came to me after having read many of Paul Krugman's missives, both his columns in The New York Times and essays in such magazines as The New York Review of Books. In his often very polemical writings - for a Nobel Laureate he does seem to indulge ...
Politicians' Criminal Minds
September 24, 2010
In our time, not entirely unlike in others, the main appeal politicians hold out for millions is that they join them in their resentful bashing of the rich. This is a successful ploy because in the past, of course, most riches came from conquest, from governmen ...
Are Consumers Finally Winning in Washington?
September 23, 2010
This past week the administration announced its choice for the first credit czar at the new Consumer Financial Protection Bureau. This bureau was created as part of the supposed Wall Street reform bill recently passed by Congress. This new bureau, which represe ...
No Way Could I Support Republicans
September 23, 2010
At times I have the impression that maybe there are practicing political allies out there somewhere, ones who are involved with current affairs, and at times it looks like these would be Republicans and especially conservative ones. That's because strictly spea ...
Property Rights and Law
September 21, 2010
Some have been demeaning the right to private property - which is very closely linked to America's political tradition and if sufficiently discredited would also help destroy the country - because such a right is supposedly created by a legal system. If so, the ...
Tony Judt's Last Prevarications
September 20, 2010
As a loyal though reluctant reader of The New York Review of Books – too masochistic an experience at times but in my line of work unavoidable – I have read a lot of essays by the recently deceased public intellectual and NYU professor Tony Judt. A skilled ...
Swiss Institutions Ask: Where's the Gold?
September 18, 2010
Have you ever wondered what would happen if most of the claimed US gold reserves do not really exist? Can Washington continue to operate under its own questionable and often non-existent accounting rules if it doesn't have the gold reserves as promised? Should ...
On More Stimulus Spending
September 17, 2010
Faced with continuing economic decline and an impending election, the administration, predictably, is entertaining the idea of another stimulus package. To explain why the last one didn't work, adherents to the Keynesian economic philosophy are claiming that th ...
Where Krugman Went Wrong
September 15, 2010
Paul Krugman, writing in The New York Times on September 5 under the title "1938 in 2010", chastizes president Obama's economists once more for doing what they have promised not to do: to repeat the mistakes of president Roosevelt's economists in 1937 in pullin ...
Oblivious to the Weight of History
September 14, 2010
Anyone in search of a short yet useful introduction to the life of Sir Winston Churchill will find it in Paul Johnson's biography. Johnson, a long-established historian of the modern age, has penned a readable and informative account of the life, personality, t ...
Does the General Understand Freedom?
September 13, 2010
General Petraeus sadly got it wrong when he wants to shut down the Koran burning on the grounds that some will react to it irrationally. Sure, the burning should not happen because it is a needlessly provocative deed but no one should be forcibly stopped from u ...
The Power of Freedom
September 11, 2010
At this time when most people are clamoring, or at least hoping for, economic revival, the major debate centers around how it could be achieved. One side, mainly the current administration and its supporters in the academy, believe in some variety of stimulus i ...
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