Cronyism and Corporatism

One of the cliches of the New Deal was that businesses were entitled to a “fair” profit. Leonard Read astutely pointed out that profits (and losses) have nothing to do with “fairness.”

Not only is Washington in political turmoil, but the policies emanating from the Beltway are more incoherent than ever.

Naomi Wolf has taken on the American medical bureaucracy for its lies and malpractice in dealing with covid.

Federal flood insurance was created ostensibly to provide insurance to people who live in flood-prone areas. Not surprisingly, it subsidizes bad home-building decisions and wastes billions of dollars.

The countries have changed, but the story remains the same. Wealthier countries try to “invest” by lending money to African regimes, where the money disappears. This time, China is the big lender.

Murray Rothbard asked this question and concluded that the current American regime, if the wisdom of Aquinas’ words is taken seriously, cannot wage a just war.

Oliver Anthony's popular song, "Rich Men North of Richmond," describes the parasitic world of the Beltway. One hopes people understand the damage the political classes have done.

The newly-released movie "Killers of the Flower Moon" depicts what happens when politically-connected people can use the state to carry out nefarious deeds. Unfortunately, government failure is one lesson that is sure to be lost here.

An unfortunate consequence of increased wealth is the growth of the parasitic consumptive class of political and cultural elites. Labor migrations often follow in the wake of damage that elites do.

A Cato Institute associate has declared the development of the covid-19 vaccines to be a free-market “triumph.” The only thing that has triumphed in this sorry episode has been the rapid growth of coercive government power.