Treasury’s About-Face Means to Teach New Dance to Regulatory State

– June 26, 2017

Less than two weeks after being unmasked as Washington’s biggest producer of regulations, the U.S. Department of the Treasury issued a report calling for lessening regulation. If that’s not surprising enough, consider that the businessman-president and …

READ MORE

Regulatory Binge Creating Thin Wallets

– June 21, 2017

The Federal Register, the Bible of the U.S. regulatory state, grew by 15,634 pages in a single year — 2016 — showing the depth of costly rules flooding American commerce. In battling the regulatory state, cutting limbs off the octopus is the thing the …

READ MORE

Scrap the Border-Adjustment Tax

– June 16, 2017

Adam Smith wisely pointed out what should have already been obvious: “Consumption is the sole end and purpose of all production.” Regrettably, many have not learned this truth. Observe: Republican House Speaker Paul Ryan and Ways and Means Chairman Kev …

READ MORE

Panic of 1907: The Short Crisis That Began Money’s Long Fall

– June 16, 2017

The Panic of 1907, 110 years ago, was used to justify the creation of the Federal Reserve. From an economic perspective, the justification was a weak reed.

READ MORE

Withdrawal from the Paris Accord Won’t Impede American Business

– June 12, 2017

No free-enterprise economy worth its name should tolerate government planning of energy, the master resource.

READ MORE

Swan Song for the Elites: Taleb on Government Failure and the Libertarian Dream

– June 7, 2017

“Black Swan” author Nassim Nicholas Taleb is forecasting a coming “libertarian’s dream” as the grip of the ruling classes weakens. In a May 19 interview on the podcast Ron Paul Liberty Report, Taleb said he is pessimistic about financial markets but no …

READ MORE

Fintech Wave Could Flood “Too Big to Fail”

– June 7, 2017

Fintech companies may become victims of their own successes as they increasingly come into regulatory crosshairs, but substandard economic growth rates and increasing banking sector concentration make a strong case for shifting in the direction toward …

READ MORE

The Excelsior Scholarship: Who Gets a Free Ride?

– June 2, 2017

In an earlier piece about student aid and student debt, I cited many studies that found increasing government-loan availability was the biggest contributor to the rising cost of college in recent years. Many students benefit from subsidized loans, but …

READ MORE

Pope Francis’s Misunderstanding of Libertarianism

– May 30, 2017

Pope Francis delivered a blistering attack on libertarianism in April. But, critics say, Francis, the Argentina-born Jesuit who became pope in 2013, confused libertarianism, which is characterized by noncoercive politics, with libertinism, which is ass …

READ MORE

Banking Regulation and Competition in the Eyes of Volcker

– May 30, 2017

Former Federal Reserve Chairman Paul Volcker is still regarded as a sage on Wall Street and beyond, but his contention that banking-sector competition hasn’t lessened is flat-out wrong, some say. The Dodd-Frank banking law, instituted two years after t …

READ MORE

Free Competition Is Voluntary Cooperation

– May 30, 2017

From the viewpoint of anyone who is considering all the economic activities of a social group, “free competition” is another name for voluntary cooperation. This may seem a surprising statement, especially in modern times when many advocates of coopera …

READ MORE

The Subprime Auto Bubble Is Losing Air

– May 23, 2017

The economy has added over 15 million jobs since the recession. When Americans get jobs, they tend to need cars. Finance companies and banks have been more than willing to provide auto loans. But auto-lending standards have not been as strict as in oth …

READ MORE