Corporate Welfare

Recorded at the Mises Institute, May 1994.

Many pundits have attempted to diagnose why such a wave of scandals and record bankruptcies occurred when it did. Most suggestions fail to address underlying causes. The real lesson of Enron, argue Steinreich and Oglesby, is that significant corporate corruption will end when one-party rule of corporate America does. Until then, expect more Enrons.

Hardly a day goes by when Mark Brandly doesn't observe confusion on the subject of international trade, from pundits who blame it all of American economic and social to those who think trade can only thrive in the context of treaties and war. This primer corrects most of the big mistakes.

The answers we receive from the academics in response to the collapse of the Enron Corporation and the implosion of other firms are not answers at all. At best, they deal only with effects, or, at worst, reverse the pattern of cause and effect. To put it another way, writes William Anderson, the people who are supposed to know the answers don’t even know what questions they should pursue.

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.

In his first inaugural address, Lincoln said he had no intention of disturbing slavery, and he appealed to all his past speeches to any who may have doubted him. But with the tariff it was different, notes Thomas DiLorenzo. Lincoln was willing to launch an invasion that would ultimately cost the lives of 620,000 Americans to prove his point.

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.

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.

New York Governor George Pataki has abandoned his original platform for the same reason that Republicans usually sell out: he has chosen staying in power over cutting government.