"The myth of Lincoln cannot stand up under scrutiny," says Thomas DiLorenzo, "and after all these years, the word is finally getting out." Mises.org interviews DiLorenzo on his new book and its thesis that Lincoln's legacy was not freedom but the consolidated state. The book's high sales are as notable as the explosive controversy that has erupted about his thesis.
Corruption breeds poverty. That is the conclusion of the latest World Development Report, in which the World Bank cites "evidence that higher levels of corruption are associated with lower per capita income" (World Bank, 2002). The story told is that bribes raise the costs of doing business, so more corrupt countries attract less foreign direct investment, which lowers growth rates and per capita incomes.
Argentina cannot afford to wait for an IMF rescue package, which will only prolong the current unsustainable monetary regime. It must act now to reform its paralyzed monetary and financial system. In this interview, QJAE editor Joseph Salerno discusses the financial and banking chaos in Argentina.
Arthur Andersen's transgressions have opened the doors to unbridled regulatory madness, writes Karen De Coster. The effect of legislation (like CARTA) will be to replace the oversight bodies that currently watch over the accounting profession with regulators who will do an even worse job of it.
This is how government works: If you can be really egregious at what you do--say you run Amtrak, the Defense or Education departments or, better yet, the SEC--you scream out that there is a dire national need. Then it will be easy to find legislators to turn on the money spigot for you and give you “whatever” you need.
In a recent article, New York Times writer Paul Krugman puts out a clever analysis of state demographics. He alleges that the pro-Bush states have more crime, divorce, single moms and net-tax eaters than the pro-Gore states. Krugman's analytic knife, however, doesn’t cut deeply enough to get to the truth of the matter.
It was only a matter of time before the Feds realized that political capital could be created from the Enron mess. The Federal Energy Regulatory Commission is now investigating all electricity sellers for evidence of pricing schemes employed during California’s energy crisis. In true Soviet-like fashion, the FERC has issued a deadline by which suspected firms must “admit or deny” their complicity in engaging in spurious pricing schemes during the time period.
The Swedes, we have been told, enjoy free medical care, generous welfare benefits, time off from work, and subsidies for just about everything. According to a recent study, however, the cat is out of the bag: relative to families in the United States, Swedish family income is considerably less.
Free trade creates wealth, writes Gary Galles. But when free trade threatens the wallets of interest groups, support for government restrictions to protect them in order to assure "fair" trade suddenly blossoms--only because that sounds better than "gimme money." It is still just a form of welfare, which can only impoverish Americans by restricting our access to lower-cost sources of supply.
Individuals and foundations have sunk millions of dollars into D.C. "think tanks" and seminars, writes William Anderson, in hopes of teaching economics to those who are in positions of political leadership. Lest we be tempted to think this is working, read the latest U.S. Senate "investigative report" on oil prices. The political classes and their media allies have cooked up yet another conspiracy theory on the evils of private enterprise.
