The Free Market

As a benefactor, scholar, entrepreneur, and member of the natural elite, he was an example to our students, and to all of us. No matter how strong the storms, Mr. Alford never gave up the ship of liberty, and neither should we.

During the "shutdown" of the federal government, bureaucrats were divided between "essential" and "non-essential." The designation caused enormous turmoil within agencies. People with lifetime jobs and gigantic pensions were deemed nonessential, while those holding short-term, highly paid, political positions—so-called Schedule C employees—were deemed "essential" and showed up for work every day. 

George Wallace's famous contention that "there ain't a dime's worth of difference" between Democrats and Republicans has received ample corroboration since the 1994 elections. The $50 billion Mexican peso bailout, opposed by some 80% of Americans, has been only the most flagrant example of the real meaning of "bipartisanship." 

The joy erupting in Howard University's student union was palpably motivated; O.J. Simpson would walk. "As the verdict was read, the place erupted into screaming and jumping. You couldn't hear," one observer put it. To the students, a falsely accused black man was able to get justice—in racist America, no less.

The government always wants more of our money, and too many economists are ready to make the case for surrendering our last dime. During the budget hysteria of 1990, for example, many economists claimed that the government needed to raise taxes to balance the budget. Anyone who disagreed was supposedly unwilling to confront the hard fiscal reality that the public needed to be taxed more.

Want to hear what a scoff sounds like? The next time you're talking to a political scientist, an economist, or a public employee, mention the possibility of a private road. Roads aren't supposed to be private, right? They are supposed to be "public goods," meaning that capitalists can't or won't build them so government has to.

The pattern is all-too-familiar: Congress and its bureaus of executive-branch henchmen arrogantly mock the Constitution, only to be applauded by the courts. Nowhere is this pattern more evident than the recent case of Leslie Salt Co. vs. the United States. Here are the facts.

Middle-class incomes, the core of what we call the "standard of living," have been falling for more than two decades. Though people have known this intuitively, only recently have we heard much about it. Economists and the media have been conditioned to look for the ups and downs in the business cycle, meanwhile missing the single most ominous trend in American economic life. 

People made fun of Gerald Ford's buttons that said "WIN," meaning "Whip Inflation Now." The buttons and the accompanying propaganda campaign implied that consumers' bad vibes were the cause of inflation. Ha, Ha.

Jews have been a conspicuous presence in black neighborhoods for more than a century, providing food, home furnishings, medical care, living accommodations, and financial services. Most of the Jews involved in these enterprises were first- or second-generation immigrants from Europe. In recent times, as Jews have veered toward more decorous occupations, these functions have been increasingly assumed by newer immigrants, often Korean or Arab.

Pigskin lovers and haters abound, but the ranks of football haters are swelling as more and more taxpayers are joining the chorus: "I hate football." In an attempt to lure football teams, local politicians are giving away the store on new stadiums, training facilities, rent subsidies, and sweetheart revenue deals. Even under the best circumstances, local taxpayers lose hundreds of millions of dollars. 

The whole gay rights debate has, by now, gotten so tiresome that most Americans, even liberals, wish the "love that dare not speak its name" would shut up. But the gay lobby has plenty of bucks, a narrow focus, and is easily offended, a combination that keeps candidate Clinton hopping.

The Gold Standard Act of 1890, which officially established the gold standard in America, was the culmination of a twenty-year battle between inflationists, who favored unlimited government purchase of silver (the "Free Silver" movement), and the advocates of sound money based on the gold standard. The inflationists were led by Senator John Sherman, author of the 1890 Sherman Silver Purchase Act (as well as the monopolistic Sherman Antitrust Act), brother of Gen. William Tecumseh Sherman.

Stuff those corks back in the champagne bottles. The Republican leadership in Congress can't celebrate the New Year until it breaks silence on the Mexican bailout. This is a debacle that makes subsidies for midnight basketball seem sensible.

The sad spectacle of political stalemate in the United States suggests that Americans are stuck with our current size and scope of government—and the lackluster economy that the government's strictures cause. Is the welfare state a tangled web from which no nation can escape?

Evidently not. 

To this day Christmas remains a celebration of liberty and private life, as well as a much-needed break from the incessant politicization of modern life. It's the most pro-capitalist of all holidays because its temporal joys are based on private property, voluntary exchange, and mutual benefit.

We're no fans of the Federal Emergency Management Agency (FEMA), and now they know it. After Hurricane Opal caused substantial damage here in Auburn, Lew Rockwell wrote a piece for the Los Angeles Times arguing that we'd be better off without post-disaster federal aid. Why should California taxpayers be penalized for our misfortune? he asked. He also had choice words for FEMA bureaucrats who use natural disasters to enhance federal control. 

So the phone rang, and it was Morry Goodman of FEMA.

Recycling has a high moral status, mostly because kids come home with bad information from schools and, in turn, use it to intimidate their parents. One poll revealed that 63% of kids have told Mom or Dad to recycle.

Parents, be ashamed no more! Throw that trash away.

Cheers to the governors of Alabama and Virginia for sending back millions of dollars earmarked for the "Goals 2000" program slated to be imposed on their states' schools. After decades of federal attacks on local control, they have responded to voter demands that school centralization be halted. 

If it had the will, Congress could kill the redistributionist monster, the Welfare State, that's consumed at least $5 trillion in wealth since the Great Society. How? Cut anywhere and everywhere, abolish whole agencies, and return the $350 billion saved from next year's spending to the taxpayers in the form of a tax cut of the same size.