Archive for September, 2010

The Deficit’s Dark Secret


Wednesday September 8th, 2010   •   Posted by Emily Skarbek at 5:37pm PDT   •   5 Comments

The New York Times on Monday, columnist Peter Orszag addresses the important issue of the the unsustainable budget deficit problem and the current high unemployment. What Orszag suggests as a “compromise” neglects the heart of both problems. Orszag suggests that “ideally only the middle-class tax cuts would be continued for now” but that doing...
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How Government Unions Became so Powerful


Wednesday September 8th, 2010   •   Posted by David Theroux at 6:25am PDT   •   1 Comment

In her September 4th article in the Wall Street Journal, “How Government Unions Became so Powerful,” Amity Shlaes traces how federal protectionism, collective bargaining, and striking powers for public-sector unions have created government labor monopolies for which private workers are forced to pay ever higher taxes for generous pensions and other benefits: “This weekend...
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Who Is Hurting? Not Government Employees


Tuesday September 7th, 2010   •   Posted by David Theroux at 6:22am PDT   •   0 Comments

This new interactive graphic from the Wall Street Journal traces the growth in job gains and losses in the United States from December 2007 through August 2010. The results show that all sectors of the U.S. economy have dramatically declined except for employees in education, health care, and government, with federal and state workers...
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82% Say More Government Stimulus Will Destroy Jobs


Monday September 6th, 2010   •   Posted by David Theroux at 12:31am PDT   •   0 Comments

In a new online poll by the Wall Street Journal, 82.2% of those participating are voting no to the question, “Can more government stimulus lower the nation’s unemployment rate?” As the article states: “Washington’s response to the country’s stubbornly high unemployment rate will depend in part on who wins an increasingly intense debate over...
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Can Capitalism Be Restored?


Sunday September 5th, 2010   •   Posted by Robert Higgs at 11:38pm PDT   •   0 Comments

I pose this question seriously, not as a physiologist, but as an economic historian. I am provoked to raise the question by an advertisement that Amazon sent me recently, calling my attention a book titled Can Capitalism Survive? Creative Destruction and the Future of the Global Economy. Seeing this sales pitch, my immediate reaction...
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The Recession and “Regime Uncertainty”


Sunday September 5th, 2010   •   Posted by Robert Higgs at 11:23pm PDT   •   0 Comments

Regime uncertainty has gained increasing recognition as the current economic troubles have persisted with little or no improvement since the economy reached a cyclical trough early in 2009. As described in my 1997 paper, regime uncertainty pertains to “the likelihood that investors’ private property rights in their capital and the income it yields will...
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We Must Cut Taxes, Curb Spending and Crimp Regulations


Saturday September 4th, 2010   •   Posted by David Theroux at 1:07am PDT   •   2 Comments

Independent Institute Senior Fellow William F. Shughart II‘s new article, “We must cut taxes, curb spending and crimp regulations,” is being syndicated by McClatchy-Tribune Information Services to newspapers across the United States and Canada, including the Sacramento Bee, Lexington Herald-Leader, Standard Times (Bedford, MA), Bellingham Herald, Albany Times-Union, Guelph Mercury, Kitchener Record, etc. “The...
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The Flaws of Social Security


Friday September 3rd, 2010   •   Posted by Anthony Gregory at 6:13pm PDT   •   1 Comment

Far from being an investment program, Social Security is a pay-as-you-go operation where new revenues are spent immediately and future entitlements are funded exclusively through the promise to tax workers in the future, many of whom haven’t even been born yet. It is taxation without representation in the most cynical sense. The program is...
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Is Democratic Reform of Deficit Finance Possible?


Friday September 3rd, 2010   •   Posted by Emily Skarbek at 12:34pm PDT   •   0 Comments

For many, economic logic and application to a wise management of finances is a chore considered best left to the “professionals”. After all, crunching numbers given the vast array of rules and regulations can be taxing (pardon the pun). However, debt finance is a particular economic subject that can be easily understood and just...
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Entrepreneurs Know What the Federal Government Doesn’t


Friday September 3rd, 2010   •   Posted by David Theroux at 12:53am PDT   •   0 Comments

In my recent article in Investor’s Business Daily, I discuss the enormous harm from and hypocrisy of federal economic policies as they inhibit private entrepreneurship. The current era has been dubbed the “Information Age,” and well it is. Never before has so much information been available so broadly and on such a level of...
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