George Gilder in The New Edition of Wealth and Poverty made an interesting observation that capital is the tool of capitalism like books are the tools of the intellectuals and academics. This analogy led me to my article in American
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David Goldman, always with an original perspective, writes An Economic Primer: Why Americans Won’t Invest in Themselves in Pajamas Media, 9/27/12 Excerpts Pension and retirement funds in the United States control $16 trillion in assets. That’s more than double the
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Natural history is a saga not of balance but of convulsive changes, wiping out whole species left and right, transforming continents, evulsing mountains, and flooding vast plains and valleys. There is no such thing as equilibrium, in ecology any more
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From the Wall Street Journal – A Capital Gains Primer. Excerpts: Far from being a loophole, the low tax rate applied to capital gains is beneficial and fair for several reasons. First, under current tax rules, all gains from investments
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Jeff Jacoby writes The Ghost of Jimmy Carter excerpts: Like all presidents, Reagan got many things wrong. But one thing he got very right was that American weakness is provocative. A foreign-policy blueprint that emphasizes the need for American constraint,
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Clifford May writes in The National Review, Misunderstanding 9/11, 9/20/12 excerpt The reality may be less comforting. While there are many people — not least in what we have come to call the “Muslim World” — who are weary of
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In economics, when demands is permitted to displace supply in the order of priorities, the result is a sluggish and uncreative economy, inflation, and a decline in productivity. Such disorders afflict both our politics and our economics today. The problem
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from The Georgia Public Policy Foundation, Friday Facts Taxes and regulation But for Mississippi: About 1.95 million Georgians out of 4,589,611 Georgians (42.5 percent) who filed returns didn’t pay federal taxes in 2010, ranking the state second in the nation
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In The American Interest, Walter Russell mead’s blog, 9/19/12, Falling Mortgages Undercut Fed Borrowing Plan excerpt This is like pushing on a string. The Fed is trying to stimulate the economy by keeping interest rates low, especially for mortgages, but
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Jay Nordlinger writes in The National Review, The Nazi card & c Excerpts: There are people in the world like Nazis: Saddam Hussein’s Baath party; the Assads’ Baath party; the Iranian dictatorship; Hezbollah; Hamas. And you know? Democrats such as
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Andrew Bernstein writes in Forbes, Whatever the Supreme Court’s Obamacare Ruling, Here’s a Free Market Healthcare Solution, 6/24/12 Excerpt: By contrast, look at the food industry. In this field, America has something much closer to a free market. For one, such innovative minds as
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With less than 50 days to go, Obama is widening his lead on InTrade. This is disturbing. If the GOP is unable to beat Obama with his terrible record then they should simply disband and wonder out in the desert.
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One of the little probed mysteries of social history is society’s hostility to its greatest benefactors, the producers of wealth. On every continent and in every epoch the people who have excelled in creating wealth have been the victims of
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Happy 5773 from The Rebel Yid Sweet Home Jerusalem Lyrics by Rabbi Lazer Brody and Steven Gasner Eagles’ wings keep on flying Carry me home to see The King Singing songs about my City Jerusalem you’re in my dreams And
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Larry Kudlow writes in the National Review Online Obamanomics Has Failed Dismally, 9/14/12 Excerpts: More money doesn’t necessarily mean more growth. More Fed money won’t increase after-tax rewards for risk, entrepreneurship, business hiring, and hard work. Keeping more of what
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A useful definition of inflation is the disassociation of demand from supply- the rise of the belief that one’s buying power can long exceed one’s supplying power, that one can get something for nothing, that one can continually take from
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The chief effect of steeply progressive tax rates is to lower the price of luxury and leisure in relation to investment and work. Paul Craig Roberts elucidated the point: Take the case of a person facing the 70 percent tax
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QE3 is supposed to work where QEs 1 and 2 did not. The beneficiaries will be the large companies so I am not surprised to see the stock market surge in the light of further stimulus. But this will benefit
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A populist politician, whose objective is to redistribute income, seeks the highest tax rate possible on rich investors without losing 51 percent of the vote (or a few points more, perhaps, depending on the value of the margin of safety).
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