Every depression generates a clamor among many groups for special privileges at the expense of the rest of society—and the American depression that struck in 1784–85 was no exception.
Americans would be wise to not dismiss separatism just because their history textbooks said it's illegal, racist, or treasonous. Instead, they should recognize it as a tool that could save a lot of headaches and even lives.
The latest impeachment saga simply confirms Thomas Paine’s adage: “The trade of governing has always been monopolized by the most ignorant and the most rascally individuals of mankind.” Score another victory for the Swamp.
How did the federal government acquire this omnipotent power? Certainly not by constitutional amendment. It acquired it by converting the federal government after World War II from a limited-government republic to a national security state.
Social activists now regard the minimum wage as another welfare program that can reduce the costs of programs like Medicaid and food stamps, and can reduce inequality. But the minimum wage is very poorly targeted for these purposes.
We're now hearing many calls for more antitrust legislation applied to Big Tech because these firms are allegedly monopolies. But old-fashioned antitrust was a disaster, as will be new efforts against tech companies.
Regardless of how knowledgeable we are and regardless of various technological ideas, without an expanding pool of real savings, expansion in economic growth is not going to emerge.
