If you thought the end of the Cold War would mean the death of “defense” socialism, or even the shrinking of the massive Pentagon bureaucracy that has been choking off and diverting the productive sector of the economy since World War II, then think again.
Americans are rightfully skeptical of “economic development.” From India to Egypt to Brazil, it has meant Aswan Dam-size government projects that have failed to raise living standards while generating pollution and cultural instability.
Performance budgeting (PB) is the newest strategy to make the public sector work. Yet as with other similar strategies, PB is fundamentally flawed. Without a system of profit and loss, a bureaucracy not only has trouble motivating its employees; it can’t determine the value of what they are doing in the first place.
Steve Stockman, among the best of Washington’s freshmen Congressmen, holds a daily prayer session that staff members attend voluntarily. Last year, nobody could have stopped it. But thanks to the “Contract With America,” Congress now has to comply with the 1964 Civil Rights Act.
The events of March 1995 could be a watershed in international monetary affairs. Beginning with the Bretton Woods agreement 50 years ago, the Federal Reserve system has been the global monetary regulator. The collapse of the dollar is a no-confidence vote that may have brought this role to an end.
When discussing the secession of Quebec from the Rest of Canada (ROC), many Anglo-Canadian economists become doomsday preachers of apocalyptic scenarios. They predict social calamities such as poverty, mass unemployment, civil war, and mass exodus.
They should settle down, try to be rational, and focus on the only real issue: the long-term economic well-being of Quebecois and Canadians.
“Business ethics” is mostly used to promote social policy that is incompatible with the profit and loss system. The argument of the business “ethicists” is simple. They say corporations neglect their social obligations because they are focused on making money for selfish stockholders. Government must prod businesses to give back to society what they have taken. It is the corporation’s penance for capitalist sins.
You’re looking for a job. You want to get paid several times your worth, come and go when you please, work only when you feel like it, take as long a lunch as you want, and get ten paid holidays per year and six weeks paid vacation per year. There’s only one way to go: work for the federal government.
Anyone who listens to the news hears a lot about failed policies. Conservative Republicans in Congress say they are seeking to overturn the failed policies enacted by liberal Democrats. Although the Democrats defend their deeds, they admit that certain policies may have failed and should be reviewed.
A poll in March reported that most people would prefer “deficit reduction” to “tax cuts.” Polls and the media lie all the time, but this one refutes itself. If people really wanted to be taxed, they would pay up without being threatened by audits, fines, special agents, and jail terms.
