Why do so many people (especially politicians) favor high tariffs, “managed trade,” embargoes and domestic subsidies, all of which — first as “mercantilism” and then as “protectionism” — have been debunked, repeatedly (demonstrated as ineffective economic policy), since Adam Smith’s famous 1776 attack? Economist Donald Boudreaux, in an excellent defense
Social Security, like similar systems in Europe, is on a trajectory to insolvency, which could lead to a sovereign debt crisis. The reason for the crisis? Social Security has always been a pay-as-we-go system, dependent on many workers paying in to a system that sends their contributions to a smaller
Washington Post columnist Catherine Rampell just stumbled into a truth. Raising minimum wages could be disastrous. Depending on the rate. While “Bernie Sanders, Martin O’Malley and a host of other well-intentioned liberals want to hike the federal minimum wage to $15 an hour,” she calls the proposal “badly misguided.” And
Real and effective “anti-establishment” ideas come from unexpected places. That is, they are unexpected if you read only the dominant media and its insider sources, or follow politics only during the quadrennial presidential farce. Quite a few news junkies would be surprised at David Stockman’s critique of current Federal Reserve
Worried about its costs, Netflix has asked millions of customers to support so-called “net neutrality” policies to curtail the freedom of action of broadband companies like Comcast. Netflix, a huge suck of bandwidth, doesn’t want to have to make deals with ISPs like Comcast to deliver service to its customers.
One of the fashionable thought-killing words offered by the cliché-recycling movement is “sustainable.” In the common tongue, as spoken by many, many environmentalists, this term implies that we will run out of all our stuff pretty soon unless everybody on the planet (except maybe Al Gore) is put on a