Big Government

Those arguing that Wall Street and other major industries cannot survive without a strong regulatory structure because regulators keep markets fair must now answer a basic question: Who regulates the regulators?

When Janet Yellen, Clinton's chair of the Council of Economic Advisors, resigned her post, she said it was for purely personal reasons. But according to inside reports, the personal reasons included frustration at having to lie day-in and day-out. No matter what the economic data of the week, she was expected to give it a spin that would boost the president and smear his enemies.

Statists never admit their failures. Indeed, to the statist failure is "success." For rather than acknowledging the interventionist "root causes" of urban decay (to borrow one of Janet Reno's favorite phrases), they propose even more intervention. The proposal is to have state governments impose on metropolitan areas, without a vote of the citizens of those areas, a new "regional" taxing authority that could impose a new layer of taxation on the residents of all counties within a metropolitan area. The tax revenues would then be used to continue to fund the failed government school monopoly, welfare, government housing projects, and any number of equally destructive government programs. As Mises warned, one government intervention always begets another.

Dominick Armentano defends his radical proposal against those who merely want antitrust reformed. (An excerpt from his new monograph.)

The perils of government intervention in the market for sports. (Article by William Anderson)

The U.S. Postal Service cracks down on free enterprise alternatives. (Article by James Bovard)

What the founders were rebelling against and why it still matters (from Investors Business Daily).

According to the hoopla, the World Trade Organization (WTO) was created in 1995 as an instrument of global free trade. Instead, it is proving to be a vehicle for corruption, economic reprisals, and politicization of trade.

The Supreme Court takes a small step, but there is a very long way to go.

The troubling relationship between the SEC and the securities industry (by Gregory Bresiger).