Tag: Corporatism

Joseph Stiglitz: The Price of Inequality »

Although Joseph Stiglitz has a reputation as one of the most prominent defenders of big government, I found much to agree with in his book, The Price of Inequality. It does appear to me that throughout the political spectrum, from left to right, there is a substantial consensus that government is the cause of...
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President Obama’s Investment Skills »

After the Obama administration bailed out General Motors by purchasing a 60.8% ownership share in the company for $49.5 billion, President Obama said, “We expect taxpayers will get back all the money my administration has invested in GM.” (I do like the way the president takes responsibility for the investment.) Now, the president’s administration...
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Common Ground »

I often find myself disagreeing with Cynthia Tucker, the Progressive journalist and professor, so I was happy to read a recent column of hers, on the farm bill that just passed the House, and find that she and I share some common ground on our views toward government. She considers the bill an example...
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Stockman: Cronyism Is Destroying American Capitalism and American Democracy »

I’ve recently read David Stockman’s book, The Great Deformation: The Corruption of Capitalism in America. (You can buy it at Amazon, but it’s cheaper at the Mises Institute.) Stockman explains how cronyism has grown throughout the 20th century in America, placing much blame on the Federal Reserve, and describing how businesses have managed to...
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President Obama on Inequality: Rhetoric vs. Reality »

President Obama has recently promoted inequality as a fundamental threat to our way of life, saying, “The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe.” You can read the rhetoric here. Let’s look at...
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The “Rs”: Understanding the Death Spiral in the Obamacare Exchanges »

One month after the worst product launch in modern history (yes, worse than “New Coke”), the big question is: Will the federal government be able to rescue health insurers who will lose lots of money in the Obamacare exchanges? At the beginning of the Obamacare negotiations, insurers recognized that their actuaries would have trouble...
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All Government Policies Succeed in the Long Run »

A crazy claim you are probably thinking after reading my title. After all, “failed policies” are a staple of discussions and debates about government actions in the United States. Everybody, regardless of political preferences, has a list of what he regards as the most glaringly failed policies. This way of looking at the matter,...
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Creative Destruction—The Best Game in Town »

In his justly famous 1942 book Capitalism, Socialism and Democracy, Joseph A. Schumpeter described the dynamics of a market economy as a process of “creative destruction.” In his view, innovation—“the new consumers’ goods, the new methods of production or transportation, the new markets, the new forms of industrial organization that capitalist enterprise creates”—drives this...
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Jim Crow and the Progressives »

Historians often speak glowingly about the Progressive movement of the late 19th and early 20th centuries. Typically they write off the racist statements made by many of its leaders—Herbert Croly, John Dewey, Teddy Roosevelt, Woodrow Wilson, and others—as minor “blind spots” unrelated to Progressivism. But perhaps the apologist historians also have trouble seeing clearly....
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Crony Capitalism? »

The US Postal Service is selling hundreds of properties in prime locations across the country to help them deal with their financial difficulties. In the past, the USPS has used multiple real estate agents to sell their properties, but in 2011 the USPS signed a contract with CBRE Group to be the sole provider...
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