The meltdown of Lehman Brothers in September 2008 didn't begin the crisis; it was a model of how all troubled firms should have been handled. Had this policy been followed from the beginning, I have little doubt that the downturn would already be over and we would not have added to the debt problem.
In the 73 years since the passage of the FLSA, the federal minimum wage has been increased 28 times and decreased only once (in 1963).
After decades of strict laws regulating when stores can open and close in Germany, the laws are progressively liberalizing.
Most people tend to gravitate toward liberty — they just have not heard it properly defined.
The deficit-hawk politicians are right when they say the government should be sharing in the belt-tightening along with everyone else. Slashing spending at the federal level would return much-needed resources to the private sector, where they would do the most good.
The increasing concentration on short-run effects is not only as a serious and dangerous intellectual error; it is a betrayal of the main duty of the economist and a grave menace to our civilization.
