More Lessons from History: How Obamanomics May Play Out

The grand lesson of the 20th century is that Big Government retards economic progress.
The evidence of this lesson goes beyond the socialist countries and their dramatic economic failures. Several decades ago, as a young economist, I encountered repeated studies… Read More

Three Neglected Economic Lessons from American History

In most, if not all, states, pupils must pass a course in American history to receive a high-school diploma. Unfortunately, when it comes to our country’s economic history, most students are poorly taught, perhaps wrongly taught. Mythology and error prevail… Read More

Doctrinaire Libertarianism vs. American Sovereignty

Recently, Bill O’Reilly interviewed John Stossel about the dangerous situation along Arizona’s porous border with Mexico. Stossel is probably my favorite reporter. I admire the way he demolishes popular myths, particularly economic myths. However, on the topic of how to… Read More

Economic Information Worth Knowing

It’s easy to be overwhelmed by the bewildering array of economic data, statistics, charts, and graphs floating around. Often, we economists can’t see the forest for the trees. It’s hard to figure out what is truly significant and what is… Read More

Exchange-Rate Mythology and Weak-Dollar Nonsense

If you read the financial press or listen to what politicians say, you have probably heard many times how important it is for the Chinese renminbi (yuan) to strengthen against the dollar. Indeed, it sometimes sounds as though a weaker… Read More

Colombia’s Presidential Election: Not “Too Close to Call” This Time

The just-completed Colombian presidential election took place in two stages. The first round took place on May 30. There were multiple candidates. Since nobody received an outright majority, the top two vote-getters (Juan Manuel Santos at 47 percent and Antanas… Read More

Reservations About a Balanced Budget Amendment

Calling for a balanced budget amendment has been a staple campaign issue for conservative Republicans for years. Undeniably, our nation is beset by fearful fiscal woes. However, a balanced budget amendment isn’t the answer.
Let me emphasize that I endorse… Read More

America Needs Union Competition

I agree with President Obama that we need more labor unions. However, I disagree with his approach.
Full disclosure: I have been a dues-payer to both the United Auto Workers and the National Education Association unions. My sympathies are heavily… Read More

Reflections on the Deepwater Horizon Disaster

The explosion that sank British Petroleum’s Deepwater Horizon oil-drilling vessel/platform in the Gulf of Mexico in April was an unmitigated disaster. The accident killed 11 workers and has caused massive environmental damage, the full extent of which may not become… Read More

Tragedy in Amish Country: Living Levi’s Example

I first met Levi almost 20 years ago. He was about 12. We had just purchased our land from his parents, Jake and Nancy. Being old-order Amish, Jake and Nancy needed a ride to the attorney’s office, so we drove… Read More

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