Monday, January 5, 2009

Archive for November, 2008

Free Trade versus Protectionism

How much sense does it make for Congress to retaliate against Japan by imposing restrictions on their products thereby forcing American consumers, say Lexus buyers, to pay higher prices? Should our rule be: If one country screws its citizens we should retaliate by screwing our citizens?

Wednesday, November 26, 2008 18:11

The Pilgrims’ Real Thanksgiving Lesson

Once the Pilgrims in the Plymouth Plantation abandoned their communal economic system and adopted one with greater individual property rights, they never again faced the starvation and food shortages of the first three years. It was only after allowing greater property rights that they could feast without worrying that famine ...

Wednesday, November 26, 2008 17:31
For what we are about to receive...

For what we are about to receive…

Wednesday, November 26, 2008 17:28

Why Politicians and the Media Attack CEO Salaries

The average pay of a CEO of a corporation big enough to be included in the Standard & Poor's index is less than one-third of what Alex Rodriguez makes, about one-tenth of what Tiger Woods makes and less than one-thirtieth of what Oprah Winfrey makes. But when has anyone ever ...

Wednesday, November 26, 2008 17:22

“Capitalism made it possible to become wealthy by serving your fellow man”

"Capitalism is relatively new in human history. Prior to capitalism, the way people amassed great wealth was by looting, plundering and enslaving their fellow man. Capitalism made it possible to become wealthy by serving your fellow man."

Monday, November 24, 2008 11:37

Fed Pledges Top $7.4 Trillion to Ease Frozen Credit

The unprecedented pledge of funds includes $2.8 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the only plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset ...

Monday, November 24, 2008 10:05

Health Care Is Not a Right

The original American idea has been virtually wiped out, ignored as if it had never existed. The rule now is for politicians to ignore and violate men's actual rights, while arguing about a whole list of rights never dreamed of in this country's founding documents—rights which require no earning, no ...

Sunday, November 23, 2008 22:44

“You have no right to the actions or products of others, except on terms to which they voluntarily agree”

"Observe that all legitimate rights have one thing in common: they are rights to action, not to rewards from other people. The American rights impose no obligations on other people, merely the negative obligation to leave you alone. The system guarantees you the chance to work for what you want ...

Sunday, November 23, 2008 22:40

“Equality before the law and material equality … are in conflict with each other”

"From the fact that people are very different it follows that, if we treat them equally, the result must be inequality in their actual position, and that the only way to place them in an equal position would be to treat them differently. Equality before the law and material ...

Sunday, November 23, 2008 22:37

“The principle of collective right is based on individual right”

"If every person has the right to defend — even by force — his person, his liberty, and his property, then it follows that a group of men have the right to organize and support a common force to protect these rights constantly. Thus the principle of collective right — ...

Sunday, November 23, 2008 22:35

The Austrians Were Right

A country cannot forever depend on a central bank to keep the economy afloat and the currency functionable through constant acceleration of money supply growth. Eventually the laws of economics will overrule the politicians, the bureaucrats and the central bankers. The system will fail to respond unless the excess debt ...

Saturday, November 22, 2008 19:31

Argentina to Nationalize Pension Funds

"The announced nationalization-expropriation of the Argentine pension funds constitutes one of the most blatant acts of financial piracy in the country's recent history," wrote Claudio Loser, senior fellow at the Inter-American Dialogue, in the Latin American Advisor newsletter. "The proposed expropriation would eliminate individual savings, and convert them into a ...

Friday, November 21, 2008 9:35

Government “Fixes” Slow Recovery

Why would a bank revalue its dubious assets to 50 cents on the dollar when Paulson might have paid 90 cents? Why would a firm renegotiate with its creditors if the Treasury might offer a better deal? "Changing the rules in the middle of the game [has] thrown the market ...

Thursday, November 20, 2008 18:06

Why I Choose Low-Quality Healthcare

Similar to entrepreneurial profit and loss in a free market, each medical procedure has the potential to provide benefits as well as lead to complications. In decisions involving health and business, true freedom only occurs when the owner of the decision is the respective property owner — the patient or ...

Thursday, November 20, 2008 17:35

The Obama Health Plan Emerges

Because the public option will enjoy taxpayer sponsorship, it will offer generous packages to consumers that no private company could ever afford or justify. And because federal officials will run not only the new plan but also the "market" in which it "competes" with private programs -- like playing both ...

Thursday, November 20, 2008 17:11