Interventionism

When the Civil War closed, the revenue acts that had been hastily passed during its course constituted a chaotic mass.

Taxpayers, struggling to make ends meet, would likely join the revolt, if taxes are raised just so 46 year-old ex-policemen and ex-firefighters can enjoy cushy retirements.

In two recent blog posts on the varying economic fortunes of US states, Krugman's about-face was complete and fast.

Fannie and Freddie, far from being the sole miscreants of the crisis, operate on the same parlous economic principles that the Fed functions on and facilitates. Ridding the market of the crippling appetites of Fannie and Freddie, even if a step in the right direction, is hardly a panacea for the current economic plights.

The plight of American workers is bleak, far worse than the official statistics indicate.

President Barack Obama promised recently in a <i>Wall Street Journal</i> op-ed to undertake a grand review of economic regulation in the United States and get rid of rules that "are not worth the cost, or that are just plain dumb." Yet he has added plenty of dumb regulations himself.

The Mises Circle in Naples, Florida. Recorded 26 February 2011.

The Mises Circle in Naples, Florida. Recorded 26 February 2011.

From Part III of A History of Money and Banking in the United States: The Colonial Era to World War II: “From Hoover to Roosevelt: T

The main reason why so many state and local governments are bankrupt, or on the verge of bankruptcy, is the combination of government-run monopolies and government-employee unions. Government-employee unions have vastly more power than do private-sector unions because the entities they work for are typically monopolies. Their days are numbered.