Economics
Economics
Bernanke Defends Fed Policy that Turned Dollar Into Four Cents
Ari Armstrong March 23, 2012
Federal Reserve chair Ben Bernanke is “one of the most powerful men in Washington,” notes the New York Times. Of course he is: He holds near-dictatorial powers over the nation’s money supply. In a recent talk at George Washington University, Bernanke condemned the gold standard for hampering the government’s ability…
Economics
Reconsidering Greg Smith’s Goldman Sachs Op-Ed
Ryan Krause March 21, 2012
In a recent blog post, I lauded Greg Smith’s op-ed chastising Goldman Sachs for losing its focus on the long-range goal of making money with its clients and shifting its focus to a shortsighted approach of making money off its clients. I also said that I thought the media had…
Economics
The Problem at Goldman Sachs Isn’t Greed but Irrationality
Ryan Krause March 17, 2012
Wall Street investment bank Goldman Sachs suffered its latest in a series of public relations problems on Wednesday when executive Greg Smith quit the firm and published his grievances against it in the New York Times. Smith accused the firm of abandoning its client-focused culture—a culture of trust, of long-term…
Economics, Science & Technology
Chevy Volt Powers Down; Who Could Have Guessed?
Ryan Krause March 7, 2012
If I were to write a business plan based on manufacturing and selling a product few people wanted, for a price few people were willing to pay, in the midst of the worst recession in at least twenty years, would you invest funds in my venture? You would if you…
Economics, Politics & Rights
Jason Calacanis Nails It
Daniel Wahl February 29, 2012
In his latest email to subscribers, Jason Calacanis pondered: Anyone who . . . used Groupon, Farmville, Facebook, Angry Birds or LinkedIn in the first year knew they were good investments and should have been allowed to invest. Only the rich were allowed to invest. How is that fair? It’s…
Economics
Why Greece’s and America’s Economies Stink
Ari Armstrong February 24, 2012
The Greeks suffer a failing economy largely because of that nation’s bloated redistributionist state, but another contributing factor is the mountain of bureaucratic feces the Greek government piles on entrepreneurs. Alexandra Kassimi reports for Ekathimerini.com: “It took 10 months, a fat bundle of paperwork, countless certificates, long hours of haggling…
Economics, Politics & Rights
Moral Justice Requires not Shuffling but Eliminating Corporate Taxes
Ari Armstrong February 23, 2012
“The Obama administration is proposing to cut the corporate tax rate from 35 percent to 28 percent,” reports the AP. Unfortunately, the plan would not cut net taxes on corporations, as it also involves eliminating some so-called “tax loopholes” through which the government permits some corporations to pay less than…
Economics
"If You’re Looking for Brains, Just Stop at Israel"
Gideon Reich February 21, 2012
If productiveness in the face of difficult obstacles is a virtue, then Israel is indeed a virtuous country. Bloomberg reports that during the last decade, despite two wars (Lebanon in 2006 and Gaza in 2008) and on-going security problems, Israel’s stock exchange had the highest percentage return among twenty-four developed-nation…
Economics, Reviews
Review: Objective Economics, by M. Northrup Buechner
Richard M. Salsman February 20, 2012
Richard M. Salsman reviews Objective Economics: How Ayn Rand’s Philosophy Changes Everything About Economics, by M. Northrup Buechner.
Economics, History, Politics & Rights
Modern Greeks Destroy ‘Foundations of Justice’
Ari Armstrong February 13, 2012
The Greek riots this past weekend have been sickening. “At least 45 buildings were burned, including one of [Athens’s] oldest cinemas, while dozens of stores and cafes were smashed and looted,” reports the AP. Why are the rioters upset? “More than 100,000 protesters marched to parliament to rally against drastic…