Archive for December 15th, 2009

U.S. Government Should Take a Lesson from Dubai: Leave Venture Capital to Capitalists »

The U.S. government is becoming Daddy Warbucks to an increasing number of firms. According to the Wall Street Journal: … the government has become the nation’s biggest mortgage lender, guaranteed nearly $3 trillion in money-market mutual-fund assets, commandeered and restructured two car companies, taken equity stakes in nearly 600 banks, lent more than $300…
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Three Views on Profit »

My semester is over and I’ve just turned in my grades. One of the courses I taught this term was “History of Economic Ideas,” and one of my final examination questions asked students to compare the views of Karl Marx and Joseph Schumpeter with the Marshallian-neoclassical view on profit. These views are very relevant…
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New Dealers for the Second Amendment »

In 1941, the Roosevelt administration commissioned a radio special, “We Hold these Truths,” to commemorate the 150th anniversary of the Bill of Rights. Listen to it here. The producer and writer was Norman Corwin (an ardent New Dealer who is still going strong at age 99). It featured an all-star cast including Orson Welles,…
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