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The Fed’s Inflation Fixation »

The Federal Reserve has an inflation target of 2% per year. That target appears to be a minimum: They are concerned when inflation falls below their target but appear to be content with inflation above 2%. The current inflation rate from March 2016 to March 2017, measured by the Consumer Price Index, is 2.4%....
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The Real Educational Choice Debate Isn’t About Money. It’s About Government Control »

Last week I had the pleasure of speaking about the future of school choice at an event hosted in Washington, DC, by the Independent Women’s Forum, featuring The Heritage Foundation’s Lindsey Burke and SAVE President Edward Bartlett. The core issue of this public policy debate is not about money. It’s about competing visions over...
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Michael John Novak, Jr., 1933-2017 »

Our very dear friend and Founding Member of the Board of Advisors of the Independent Institute, Michael Novak, passed away at the age of 83, on February 17th. A man of immense generosity, integrity, joyfulness, and good will, Michael was one of the most important scholars, theologians, prolific authors, and public intellectuals of the...
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The Season of Giving and the Economic System that Fosters Great Generosity »

Christmas will soon be here, and preparations for this holiday are proceeding apace. People are buying gifts for family members and friends and making preparations for great feasts at which family, friends, and other loved ones will gather to share the joy and love of the occasion. Notice how much effort and expense are...
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When Government Fails, Papa John’s Delivers »

Parts of the southern United States were hit particular hard by hurricane Matthew last week. Between the wind and the rain, flooding and power outages took place from Florida up through the Carolinas. For many of us, things like losing power are minor inconveniences. For others, however, this is not the case. Losing power...
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Hillary Clinton’s Exit Tax »

In the Cold War era, Eastern bloc countries prevented their citizens from leaving. The Berlin Wall was the most iconic symbol of the Eastern bloc’s no exit policy. Hillary Clinton’s proposed exit tax “on the untaxed overseas earnings of multinational companies that leave the U.S.” falls short of being a Berlin Wall for U.S....
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Dealing with Mistakes: Government Action versus Private Action »

Government can hardly ever do just one thing. Its action has repercussions, and these repercussions have repercussions, and so forth. Even when the government’s initial action may seem compassionate or productive, it is highly unlike that the repercussions will prove likewise. Of course, private action also has repercussions, some of which may be unpleasant...
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Brexit, Sexit, Texit »

Brexit In the short time since the Brits voted to exit the EU, much of the commentary I’ve read views the vote as a move toward isolationism. Regardless of the motivations of the voters, a more accurate way to look at it is that the British voted for self-government rather than government from afar....
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The Uneasy Relationship Between Progressivism and Freedom »

The United States was founded on an ideology that viewed the role of government as the protection of individual rights. That view of government was pushed aside by the ideology of Progressivism toward the end of the 1800s. The Progressive ideology envisions a government that not only protects individual rights but also looks out...
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Parental Choice, Not Compulsory Preschool, Is “The Way of the Future” »

New York City Mayor Bill de Blasio claims that compulsory preschool is “the way of the future.” Along with Nancy Pelosi, President Obama, and presidential candidate Hillary Clinton, de Blasio claims universal, public preschool will improve high school graduation rates, as well as college and job preparation. The ineffectiveness of the largest and longest-running...
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