Tag: rescue
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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The Data Don’t Justify Financial-Market Panic

As the hysteria has grown in the discussion of financial markets and related government policies, I have been puzzled by the discrepancy between the best available data and the descriptions quoted in the press—statements by financial gurus, traders, and professors, as well as by government officials. To hear these spokesmen tell the story, you’d...
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Two Unspoken Assumptions in the Credit-Crisis Debate

In the heated, sometimes almost hysterical discussions and debates of the “credit crisis” now swirling through the press, the Internet, and the programs broadcast on radio and television, nearly everybody is making two, usually implicit assumptions: I. The volume of outstanding credit should never decline. II. If the volume of outstanding credit has declined, the government should act to reverse that...
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Metaphors Reveal the Economic Ignorance of Politicians and Journalists

The past few weeks have been a difficult time for economic educators. Never has it been more obvious that all their efforts have been in vain. Neither the politicians nor the journalists, who have been spewing out words at a rapid rate with regard to the so-called financial crisis and the proposed financial bailout, have a...
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