Tag: History

You Didn’t Build That Business, and You Don’t Run It, Either »

During the 2012 campaign, President Obama famously said, “If you’ve got a business, you didn’t build that, someone else made it happen.” And now, it appears, if you’ve got a business, someone else makes what you do with it happen, too. Imagine you’re a Jewish tailor, the child of holocaust survivors. Into your shop...
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Money for Nothing: Inside the Federal Reserve »

I taught Money and Banking for 40 years at Ohio State and before that at Boston College, and never once used a movie in class. However, after viewing Jim Bruce’s new documentary, Money for Nothing: Inside the Federal Reserve last night at the Museum of American Finance, I would not hesitate to use this...
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Happy Birthday, Walter Grinder! »

http://www.amazon.com/exec/obidos/ASIN/B0026HQYSW/theindepeende-20/002-6508816-9461647

Thinking Is Research, Too! »

Bill Parker, an old friend of mine who died in 2000, was director of graduate studies in economics at Yale for thirteen years. He told me once about his struggles with his colleagues, who, he believed, were spending too much time on technique and not enough time on substance in teaching their courses. The...
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New Book Exposes the ‘Terrible 10′ Worst U.S. Economic Policy Mistakes »

Despite enjoying impressive economic growth over the past century, Americans have also been the victims of scores of stupid government mistakes that have made them poorer. For many the blunders led only to temporary setbacks, but for others the errors created life-altering disasters from which they never recovered. In the new book The Terrible...
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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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NSA Spying Threatens Law-Abiding Americans »

I was talking with an older German citizen about the NSA’s data collection program that has recently been the subject of much debate. He worked for the East German government during the Cold War and viewed the NSA’s activities as similar to the Stasi’s under communist rule, but potentially more threatening. The argument often...
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The U.S. Empire’s Shameful Multiplier Effect »

Let X = number of persons who died in the USA as a result of the 9/11 attacks. X ≈ 3,000. Let Y = number of persons who have died in Afghanistan, Iraq, and Pakistan as a result of direct war violence associated with the U.S. attacks and occupations since 9/11. Y ≈ between...
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How John Locke Should Have Saved The Lone Ranger »

I had a glimmer of hope for the 2013 film The Lone Ranger when I read that young U.S. attorney John Reid, aka The Lone Ranger, arrives in untamed west Texas with a copy of John Locke’s Two Treatises of Government. After watching the otherwise entertaining summer action film, I left the theater wondering...
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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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