Competition is both wasteful and efficient. Lots of ideas die, but the new ones that emerge more than make up for the loss. Central planning may restrict competitive ideas, but rarely leads to the emergence of great ideas because central planning is reacting to problems and needs that become obsolete before the ink is dry on the plan.
Read More
from Barron’s and Randall Forsyth, Is It Time to Return to Active Stock-Picking? What’s needed, say some outspoken active investors, is a return to old-fashioned Houseman–Smith Barney securities selection, rather than the tide of passive investing washing over the financial
Read More
The default belief of our economic history of the last 100 years has been an acceptance of the dynamic growth of capitalism punctuated by excesses of market greed that have to be corrected by the singular wisdom of government regulation.
Read More
‘Sound currency’ is like ‘ world peace.’ We all agree we want it, especially when we do not have it. Yet either we can never agree how to get it, or we are never willing to make the sacrifice it
Read More
In the wake of the elections of November 3, 2008 we noted the dramatic swing of the independent voter. Who are these voters and why do they refuse to ally themselves with one of the two major parties? I confess
Read More
The work of noted economist John Maynard Keynes is used to justify a bigger government role in the economy. After the recent (or more accurately current) crisis it is understandable that many would return to this economist. Yet most who
Read More
I am constantly amazed at how sitting political leaders and naive citizens think that the government can create jobs. If the government could create jobs why would we ever tolerate any unemployment? Either the leaders are economically ignorant or liars.
Read More
Economic growth hit 5.7% in the last quarter of ’09. We should be hitting a rebound at this point in the cycle, but Wall Street is still in the midst of a losing streak. What gives? First, it is always
Read More
“In moving, even tentatively, into this new area of lending (subprime) Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government -subsidized corporation may run into trouble in an
Read More
My second article in American Thinker A Political Recession Excerpts: Growth is being restricted by political uncertainty more than economic policy. More business people who are either able or nearing retirement are “going Galt”, downsizing or reducing their income and
Read More
I have been a fan of Nassim Taleb since I read “Fooled by Randomness”. I remember stumbling in it the bookstore at Columbia University in New York. I quickly grabbed his most noted book, “The Black Swan” which continued his
Read More
Recent Comments