“Change” Under Obama: From Dumb to Dumber and From Bad to Worse

Collective bargaining, with its imposition of higher costs and prices and lower product quality, is at the root of the destruction of the American automobile industry and many other American industries. President Obama not only chooses not to know this, but selects union leaders as his companions, including the leader of the United Automobile Workers Union.

Agreeing with Rush

Yes, it’s true. I agree with Rush Limbaugh: I do not want Obama to succeed.

According to Newt Gingrich, that makes me irrational. So be it. While I’m admitting my irrationality, I must also state that I do not want my governor, county commissioners, or township trustees to succeed either. Nor, for that matter, my local scenic river advisory council.

Sad News

Lawrence Moss, who was a wonderful fellow traveler of the Austrian School and the editor of The American Journal of Economics and Sociology, has passed away. The arrangements for a memorial service for him are incomplete, but I spoke to his widow tonight, Widdy Ho, and gave her my condolences.

Science Is as Science Does

The logical positivists devised a rigid criterion of knowledge: you cannot know anything you cannot empirically verify. The logical positivists’ criterion did not meet its own demand. But scientists never got the memo, and there persists to this day a widespread prejudice that the only “real” sciences are empirical sciences. And Keynesians want to be scientists too!

Defend the Gold Standard

To criticize a monetary system based on gold as “rigid” only makes sense if you believe that printing green pieces of paper makes a country richer. After all, the only rigidity enforced by the gold standard is on the central bank’s use of the printing press. Requiring the government to maintain a fixed dollar/gold exchange rate is “restrictive” in the same way that the Bill of Rights limits the discretionary power of the feds.

Beating Back Obamanomics

We find ourselves facing the horror of what has always been the Achilles heel of the left wing: its abysmal ignorance of economic science. The ideological tendency has gone from Keynesianism to outright socialism in a matter of a few weeks. And the trajectory seems to be accelerated mainly by the logic of the interventionist cycle
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