Feb 24
For much of two centuries, the United States was the global flagship of capitalism and free enterprise. New York City, with its New York Stock Exchange, and its large investment banks, was the world capitol of commerce. The buildings on the Manhattan skyline–the Chrysler Building, the Empire State Building (built mostly by the investors of …
Feb 09
At least 375,000 retired Americans are now receiving their Social Security checks overseas. See here. Many countries are now freer than the U.S., and their costs of living are much lower. While U.S. programs such as Medicare, Medicaid and Obamacare have driven health care prices higher and higher, medical treatments of the highest quality can …
Feb 08
Almost all business regulation harms the poor and small businesses and helps the biggest industry leaders. And in the big picture, even the good ol’ boys are harmed. Look at the above graph (courtesy of CNBC, see here). It shows that the overall value of the banking industry is about the same as it was …
Jan 26
Government officials purportedly “in charge” of Flint, Michigan ran the City into the ground after decades of corruption. Then the government secretly exposed the people of Flint to polluted, lead-contaminated drinking water. Yet those who trust and worship intrusive, expansive government are now complaining that Wal-Mart, Pepsi, Nestle, and Coca-Cola are offering to provide free …
Jan 22
There seems to be a religious hatred among government trusters against fossil-fuel suppliers. A loathing almost as irrational as the unshakeable, almost hypersexual, love of self-styled “conservatives” for men in government uniforms. Even as petroleum products have been made cheaper and cheaper by private sector innovators, the government of California is poised to forcibly take …
Jan 10
Government subsidies of health care–often enacted with claims that they “help the poor”–increase demand without increasing supply, causing prices to rise. Medicare, Medicaid, Obamacare, and the VA system have all INCREASED the basic costs of medical care for poor people. But there are areas of medicine that are ‘elective,’ meaning that people make choices for …
Jan 03
Shocking story from Hong Kong, one of the freest countries on earth. For a century, Hong Kong was a British colony. It has a British style court system (complete with jury trials), protections for property rights, and relatively free markets. Hong Kong attracted millions of ethnic Chinese who fled the mainland. Over time, the average …
Jan 01
The U.S. has the world’s highest corporate tax rates, driving many corporations overseas and preventing others from ever starting. Yet “progressive” politicians continue to demand that corporations be taxed even higher. Puerto Rico’s economy provides a vivid illustration of what happens when a government hikes corporate tax rates. Puerto Rico is in default on its …
Dec 20
Fascinating expose’ in the New York Times yesterday. “Inside the Billion-Dollar Battle for Puerto Rico’s Future” The report details how the outrageous overregulation and overspending by Puerto Rico’s “leaders” led to territorial debts which are unpayable. In turn, Puerto Rico’s “leaders” sought bailouts from the world’s richest investors, promising a 20 percent annual return for …
Nov 13
On a per-mile basis, the automobile is the safest form of land transportation ever invented. See here. It is often said that planes are safer than cars; but on a per-trip or per-hour basis, cars are even safer than planes. Yet governments, for a century, have burdened car travel with reams of unnecessary rules and …
