Why Has Inflation Not Followed Our Debt?

Great Society by Amity Shlaes tells the story of the disappointments of Johnson’s signature program; the lessons are many. The inflation of the 1970’s had numerous causes and led many of us to conclude that the deficits of the most recent decade under both Obama and...

The Hong Kong Experiment

by Henry Oliner Architect of Prosperity- Sir John Cowperthwaite and the Making of Hong Kong by Neil Monnery is a story about the economic development and success of Honk Kong, the policies and the leader who stubbornly executed them. As Financial Secretary...

Obama and Nixon

Kevin Williamson writes The Front Man in The National Review, 8/5/2013 Excerpts: We have to some extent been here before. It is a testament to the success of free-market ideas that it is impossible to imagine President Obama making the announcement that President...

The Roe v Wade Tax Cut

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).  A smaller tax increase that...

A Nation of Mercenaries

General William Westmoreland, the U.S. Commander in Vietnam, strongly supported involuntary conscription, and told the [Gates] commission that he didn’t want to command an army of mercenaries.  “General,” [Milton] Friedman interrupted, “would you rather command an...