Progressivism can be viewed as socialism lite, paying homage to the great progress of capitalism while acknowledging some of the limitations of a free market. Social and economic theories develop, mature and evolve as they face the hard tests of
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From The Wall Street Journal Book Review: ‘The Power of Knowledge,’ by Jeremy Black The review is by Roger Kimball Excerpt: Although deeply grounded in history from the Middle Ages on down, this book also conjures with contemporary issues. Some
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“Nothing is more advantageous to the socialists in our midst than a futile and confusing preoccupation with debt. Thomas Babington Macaulay provides some useful historical perspective in his discussion of Britain’s fiscal straits at the end of the twelve-year War
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“It is perverse and self-defeating for conservative CFOs to focus on the federal government’s profit and loss statement as if it were some test of fiscal virtue and the path to national revival. The key issue is not the prodigal
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“Crony capitalism feeds on campaign finance laws that give union and corporate political action committees the power of unlimited spending while individual citizens are restricted to $2,500 per campaign. The famous “occupiers” of Wall Street actually got this right. Corporations
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“Or is all that just pie in the sky? Economists are usually pessimists. They believe in the intractability of existing conditions, whether the inflation of the 1970s or the deficits of today. But here again, a glance at history is
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“And governmental interventions in the economy are distractions—“noise on the line”—that nearly always retard expansion. Failing to see the centrality of entrepreneurial creativity, economists everywhere have counseled governments to attend to the money supply, aggregate demand, consumer confidence, trade imbalances,
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