One doubts that the so-called Inflation Reduction Act will reduce inflation. However, it will wreak havoc on the US economy with its lethal mix of taxes, regulations, subsidies, and outright crony capitalism.
Economists often deplore the corruption in developing countries, but when institutions are corrupt, don't expect people to have the incentive to be honest.
Like many modern "conservatives," F.H. Buckley believes that America's future is conservative governance with a helping of government intervention, tariffs, and regulation.
Sen. Joe Manchin has agreed to support a "Build Back Better" lite that proponents claim will reduce inflation, give us better weather, and "pay for itself" through price controls and taxes. Perhaps we should be wary of such political "victories" for the political elites.
The myth that won't die is that Nazi Germany was a fully functioning free-market economy. In truth, it was effectively as socialist as its supposed rival, the USSR.
The Davos crowd sold globalization as a way to bring nations together. Unfortunately, by insisting on political conformity, the globalists have set the world on fire.
