Lies, Damn Lies, and the History of Capitalism

Mark Twain popularized the phrase, “There are three kinds of lies: lies, damn lies, and statistics.” This phrase could equally well be adapted to depict the role of socialist narratives taught as “history”—narratives that wreak even more economic havoc than outright lies. Lies can be debunked with facts, but socialist narratives appeal to political and moral ideologies that are less easily dislodged once they take root.

Alan Greenspan Dies at 100

Alan Greenspan, the powerful chairman of the Federal Reserve from 1987 to 2006, has died at age 100. Before the 2008 financial crisis, Greenspan had been regarded as almost superhuman in his leadership on the Fed board, and he was credited as playing a key role in the strong economic growth of the late 1990s and early 2000s. Later, however, it became apparent that much of this economic growth was actually just an enormous bubble created through monetary stimulus.