Consumer protection regulation is the consumer’s worst nightmare. In fact, it is not protective at all. It is merely another one of those regulatory rackets that has the appearance of providing necessary security for a collective group in an entirely positive sense while encompassing no negatives. After all, how can anything entitled "protection" have a downside?
Far from an example of a market failure, Enron's saga shows that firms that invest too much in politics can easily become complacent in the face of changing market conditions. In economics, this is called government failure, and we can blame the growing requirement for firms to divert resources to grease palms in Washington as a necessary business investment for its occurrence.
There has been a lot of talk recently about foreigners who hate our prosperity and civilization, and seek ways to inflict violence in retaliation. Well, here is another case in point, except these are not swarthy Islamic terrorists; they are diplomats and statesmen on nobody's list of suspicious characters.
The January 15 decision in EEOC v. Waffle House (99-1823) promises to reduce the immense efficiency gains to seeking resolution outside the court system by blocking another exit to the state's courts. If the right to choose an alternative venue for dispute resolution can be so severely circumscribed by the courts, one more check on judicial tyranny has been lost.
How does the left get away with describing right-wing thought as Talibanish, especially when compared to the left-wing agenda of speech codes, economic regulation, and authoritarian intervention in every aspect of American private life?
While the facts (as we know them today) of the Enron debacle are easily available in most newspapers and on the Internet, they are accompanied by a number of myths that are being spawned by politicians and their media allies. William Anderson tackles a few of these economic and political "old wives' tales" and helps set the record straight.
Edmund Burke was born in Dublin on this day--January 12--some 273 years ago. He is often called the father of conservatism, but the central passion throughout his writings and speeches is opposition to arbitrary power, especially in the hands of the government, with its "officious, universal interference" in people's lives.
In its original meaning, "crisis" signifies a turning point that can either lead to improvement and recovery or to more severe deterioration. In the case of Argentina, with the future of the Argentinean people in mind, one must hope for the abandonment of its interventionist economic system, with its reliance on a bureaucratic apparatus and its self-chosen dependency on foreign credits.
After laboring mightily and giving birth to the 2001-2002 federal budget, politicians returned home for the holidays, where they spent much of their time emphasizing their role in bringing home the bacon to those local interests who benefit. But as Congress returns to "the work of the people" in a midterm election year, it is worth remembering that not one cent of the funding came from anyone except taxpayers.
The energy problems that plague this country are government created. From restrictions on drilling to U.S. foreign policy blunders, the government has been a veritable "bull in a china shop" when it comes to energy policy. Another layer of political action, even when suggested by "free-market economists," will not solve our problems.
