Forty years ago, American politicians claimed that Japanese economic success was due to government economic planning. Unfortunately, the myth of industrial policy never seems to die, no matter how many times it is discredited.
Two days before Christmas, 1913, the infamous "creature from Jekyll Island," the Federal Reserve System, was birthed into our body politic. It has been devouring the economy ever since.
When speaking of government actions, Einstein's alleged definition of insanity comes to mind. But no one does exactly the same thing twice, per Heraclitus. In the end, however, government action is doomed for failure.
While high-quality automobiles and other manufactured goods are being produced in the Southeast, northeastern states like New York are falling behind, thanks to progressive governance.
Is Big Tech a government creation—as the American Conservative recently claimed—or is it the result of entrepreneurs employing a mechanism created for noncommercial uses? It is both, writes Michael Rectenwald.
Politicians calling for student loan forgiveness or free college tuition have failed to understand the larger consequences of unlimited student lending. Henry Hazlitt would have understood.
While both the Left and Right celebrate the government's new drive to subsidize American microchip manufacturing, we should remember that political "investments" always result in crony capitalist disasters.
As "decarbonize agriculture" becomes the watchword, powerful multinational agriculture firms have embraced the 2030 UN agenda. Their actions will result in widespread hunger.
