Welfare programs are a cornerstone of an interventionist state, which, despite its demonstrable failures, is rising in popularity, especially among millennials. However, socialism’s adherents are largely unaware of the negative effects of the ideology they so enthusiastically embrace.
Donald Trump found himself in hot water last month with critics and supporters alike. His new spending bill didn’t sit well with fiscally concerned Republicans, who watched as our annual deficit topped $1 trillion. Meanwhile, his more border-hawkish supporters were disappointed to see only $1.3 billion set aside in funding for the border wall.
In the United States, the newest model of any cell phone is usually going to be sold as faster and smaller. Even as large-screen phones have gained popularity, they depend on being thin and light to attract customers. Bulky phones don’t fit well in the back pocket of skinny jeans, and they aren’t as fun to hold while mindlessly scrolling through Facebook.
About a decade ago, I first met Louis Carabini when he sponsored a Mises Circle event in Newport Beach, California. At that event, I picked up a copy of his small book, Inclined to Liberty. Not long afterward, I had read it, been impressed with its insight and Mr. Carabini’s ability to turn a phrase, and had even done a bit of a teaser article to encourage others to read it.
Ten years after the outbreak of the global financial crisis, banks in the euro area have not recovered. The Euro Stoxx Financials is only 40% above its March 2009 low, well below its pre-crisis level (Fig. 1). By contrast, the S&P Financials index in the US has risen by 320%. The different fates of European and US financial institutions could be due to the different monetary and regulatory crisis therapies of the European Central Bank (ECB) and the Fed.
Fig. 1: US and Euro Area Financial Stock Prices
Thank you, Representative Alexandria Ocasio-Cortez. The Green New Deal (GND) she has unveiled is most illuminating. It is now unmistakably clear that AOC, Bernie Sanders, and other democratic socialists in the Democratic Party don’t want “socialism lite” but rather they want the federal government to take control of the “commanding heights” of the economy.
Was the New Deal responsible for segregated housing?
