Thomas Dorman, RIP

Thomas Dorman, MD, of the Paracelsus Clinic in Federal Way, Washington, died unexpectedly on Tuesday. He was 72. An international man and American patriot, Tom was born in British Kenya, where his father was a coffee merchant, who in WWII helped supply travel documents for Jews escaping the National Socialists. When Jomo Kenyatta came to power, they moved to Israel, where Tom attended high school and later served in a parachute regiment during the ’67 war. Tom went to university in Liverpool and medical school in Edinburgh, and practiced in Canada before moving to America.

Supporters of Capitalism Are Crazy, Says Harvard

Last weekend, Harvard University sponsored a conference called (I am not making this up) “The Free Market Mindset: History, Psychology, and Consequences.” Its purpose was to try to figure out why, since everyone knows the current crisis amounts to a failure of the market economy, the stupid rubes continue to believe in it. The promotional literature for the conference opened with a quotation from the oracle Alan Greenspan.

The Ambition of Rothbard’s Treatise

Rothbard’s primary mission in writing his treatise was to purge modern economic science of its alien positivist and mathematical-formalist elements and to reconstruct it along consistently causal-realist lines. The death knell is now tolling for the mathematical and positivist pretenders to the mainstream of economics. The time is ripe for Austrians to recover their rightful position as the true representatives of the central tendency of modern economic theory.

Abolish the Expatriation Tax

In the past, the government was forced to show a modicum of restraint with respect to levying taxes for fear that citizens would simply leave the country and move to a more favorable location. In fact, the threat of the citizenry emigrating en masse is arguably one of the most important checks on government power. The American Jobs Creation Act, passed by a Republican House, Senate, and president, effectively removed this fear.

Don’t Bail Out Eastern Europe

There’s a new subprime crisis in the news. Unlike the US original, however, which has sparked the worldwide recession, this one doesn’t involve only falling home prices but also falling economies. The countries of Central and Eastern Europe, after years of high growth fueled by investment from Western Europe, are now heading towards a recession.

Management Theory Is Not to Blame

Some commentators think that business schools’ focus on shareholder wealth maximization, performance-based pay, and the virtue of self-interest have led banks, corporations, and governments astray. We think, however, that management theory has much to offer policymakers, practitioners, and analysts seeking to understand the current crisis.

David Brooks and Neoconservatives Hate Capitalism

If one does not read enough economic illiteracy from Paul Krugman’s Monday column in the New York Times, there always is David Brook’s Tuesday column, which presents the neo-con (emphasis on “con”) view of the world. One must remember that the editorial writers at the Times actually believe that Brooks is a free-market guy.

Today, Brooks demonstrates his Great Knowledge of Capitalism in the following paragraph:

A Free and Prosperous Commonwealth

In the Wall Street Journal of March 5, 2009, Daniel Henninger asks “Has Obama Buried Reagan?” While much of the current debate has focused around stimulus and the current crisis, Henninger argues that the correct response to the misguided stimulus and the budget proposal that increases (estimates are based on a very rosy forecast of economic growth) the measured size of the federal government relative to GDP from 20% in 2007 to 27.7% for fiscal 2009 to 24.1% for 2010, and then remaining higher than 22

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