Tag: Europe
France Fines Google: Is Atlas Shrugging?
In Ayn Rand’s novel, Atlas Shrugged, published in 1957, businesses push government to pass law after law that aids weaker businesses by penalizing successful ones. There’s the “Anti-Dog-Eat-Dog Rule” to prevent destructive competition among firms in an industry, and the “Equalization of Opportunity Bill” that limits the number of businesses one person can own....
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Greek Referendum on the Bailout: Good Idea!
After EU leaders agreed on a new bailout plan for Greece, Greek Prime Minister George Papandreou has called for a national referendum on the plan, which has appeared to upset the EU leaders who crafted the bailout, and financial markets reacting to the uncertainty. Why? The people with the most at stake are the...
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Essential Fall Reading from The Independent Review
The Fall 2011 issue of The Independent Review is hot off the press! We have posted selected articles and all book reviews online, as indicated below. This issue addresses a host of fascinating questions on topics as diverse as intellectual history, economic development, political theory, and government policy: Why do progressives and social democrats...
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Global Regime Uncertainty
Dr. Brendan Brown, Head of Economic Research at Mitsubishi UFJ Securities International (London), recently cited Senior Fellow Robert Higgs‘s work on regime uncertainty—both as the cause of the prolongation of the Great Depression as well as today’s economic malaise—suggesting that his premise could well be expanded to explain today’s global economy. In his Economic...
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The Euro and the EU: A Complicated Relationship
The European Union, started as a free trade zone for Europe, is moving toward a comprehensive European government—a United States of Europe—in small steps. Europeans rejected a European Constitution in 2005, indicating their reluctance to give up their national sovereignty to the EU, but little by little, that is what is happening. Currently, the...
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Europeans’ Thoughts on the Greek Bailout
I’ve been to a few economics conferences in Europe the past few months, and it has given me the opportunity to talk with some European economists about the Greek bailout. I only talked with a few people, and they were all economists, so I wouldn’t generalize to say they are representative, but I did...
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Greek “Privatization” Isn’t
Greece is reportedly putting into practice Independent Institute Senior Fellow William Shughart’s recommended course of action to insolvent governments: sell off government-held assets, pay off your debts, and get your fiscal house in order for the future. And Greek’s government owns vast swathes of highly desirable property: An umbrella company for most of Greece’s...
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Book Champions Market-Based Law and Justice
The provision of justice and security has long been linked in most people’s minds to the state. But are the state’s monopolies on lawmaking and law enforcement really necessary? Those who say “yes” typically assume that any alternative arrangement for law and order would favor the rich at the expense of the poor—or would...
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US Should Stay Out of Greek Bailout
In a recent meeting with German Chancellor Angela Merkel, President Obama “...pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF.” The US should stay out of Greece’s financial problems, for several reasons. First, the US is running budget deficits...
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Two Bearded Germans of the Nineteenth Century
Today is May 1, also known as May Day, the holiday of holidays for communists, socialists, and other such purported champions of the working class. (Personal disclaimer: I was once a member of the working class, and these champions never did a damn thing for me, unless you credit them with somehow contributing to...
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