Recycling: What a Waste!

School kids across the country will again be taught a chief doctrine in the civic religion: recycle, not only because you fear the police but also because you love the planet. Jim Fedako, however, explains that if recycling were really efficient and not wasteful, people would not have to be browbeaten, and trash companies wouldn’t have to undertake this charade that they are helping preserve the planet by picking up sorted garbage. Reusing and reducing are viable market activities.

Spitzer Central Plan for Stock Research Backfires

The $1.4 billion Wall Street research settlement, devised by New York politician Eliot Spitzer, compels investment banks to pay their “independent” rivals to publish competing investment research reports. This is necessary, Spitzer argued, to give investors access to research that is not tainted by conflict of interest. Banking conflicts, he said, make Wall Street analysts overly bullish on stocks.