The strength of Whalen's book is that his monetary history, like Rothbard's, is about people, not policies. While Keynesians talk about unknowable constructs like aggregate demand, Whalen's story turns on the actions of people.
It's not as if TSA officials had said all along, since 2001, that they needed full-body scanners in order to do their jobs properly. Had they said that in the beginning, then the public probably would've protested enough such that the "small-government" George Bush wouldn't have nationalized airport security.
Why is unemployment stuck at 10 percent in the narrowest measure and as high as 30 percent for some demographics? The usual answer is that the broad economy is not recovering. That's true but superficial; it explains nothing. We have a problem of a specific kind with the job market.
This tuna episode is just another demonstration of the conflict that arises whenever government regulation tries to solve a problem caused by a lack of property rights. If people owned portions of the oceans.
Charles, the third Viscount Townshend (1700–1764), has been shamefully neglected by virtually all historians of economic thought. He is virtually unknown and is often confused with his son of the same name.
Before the financial crisis, Portugal, Italy, Ireland, Greece, and Spain had been able to finance their deficits at artificially low interest rates. They all assumed that their governments would be bailed out by other countries of the eurozone in order to preserve the holy European Union.
Benjamin Franklin once remarked that the only certain things in life are death and taxes. Modern entitlement programs have created a situation in which efforts to avoid death will make tax burdens unbearable.
Many academic economists are beginning to worry: Could the Federal Reserve itself become insolvent? In this article I'll explain these fears and I'll argue that the Fed, with its printing press, cannot really go bankrupt the way other corporations can.
When he was in his 20s, having newly discovered libertarian ideas, having read Rand, Rothbard, Mises, Hayek, and others, having met Rothbard and conversed with him at length, Nozick was fired up with excitement.
The national furor over the TSA's new procedures has elicited the typical response from the bureaucracy and its apologists. These invasive scans and "enhanced pat-downs" are for your own good. You don't want another attack, do you?
