Debt or Taxes

– September 30, 2020

“At the present juncture, developed country government bond yields are more likely to fall than rise. Fiscal spending will be financed by deferred taxation, the repayment of today’s (and probably tomorrow’s) obligations will be bequeathed to our children and grandchildren. Digital taxes, taxation on wealth and financial transaction fees may creep higher at the margins, along with higher taxes on higher earners, but debt is the least painful solution to the fiscal needs of the present.” ~ Colin Lloyd


A Plea for Checks

– September 29, 2020

“Private organizations, whether for- or nonprofit, have to be ahead of the times in order to survive in a world of cutthroat competition. (Or cabal as Smith warned.) To see what the future holds, look to businesses and nonprofits. They would be even further ahead if they did not have to constantly worry about meddling politicians coming up from behind.” ~ Robert E. Wright

no freedom

Fahrenheit 451 Predicted People Would Demand Tyranny

– September 29, 2020

“Today, how many say nothing to their neighbors and colleagues about Covid-19 policies for fear of being accused of not valuing human lives? In Fahrenheit 451, silence helped pave the way for the public’s embrace of tyranny. In 2020, Fahrenheit 451 is far more than a chilling, cautionary tale. To reverse the spiral of silence we must make space for candid conversations by thoughtfully considering alternative viewpoints.” ~ Barry Brownstein

davos, elites, planning

Stakeholder Fascism Means More Loss of Liberty

– September 28, 2020

“Like other forms of imposed central planning over the last one hundred years, Stakeholder Fascism would only lead to tyranny, poverty, and the greater loss of liberty and freedom to choose.” ~ Richard M. Ebeling

UK Harbor

Trade Negotiations: A Fish Story

– September 27, 2020

“A hands-off policy runs contrary to a politician’s every instinct. Every bone in their body tells them they must ‘do something’ to justify their votes and campaign contributions. They respond to the loudest voices, the fishermen in our example, and the deepest pockets. As always, the answer lies in improving our understanding of theory and history and applying our knowledge and communication skills to the issues of the day.” ~ Warren C. Gibson

great barrington

Private Enterprise Fuels the Community

– September 26, 2020

“Governor Baker and the expert teams in statehouses across the country must find ways to give more small businesses the flexibility to solve the problems that state commissions both cannot and should never have tried to solve.” ~ Max Gulker

tutorial, reporter

A Primer for the Media on Viruses, Vaccines, and Covid-19

– September 25, 2020

“After retiring, I had hoped that I was ‘riding off into the sunset’ as far as my career was concerned. But,as a scientist, with expertise in infectious diseases, PPE, antiviral medicines, vaccines, etc., this year thrust me back into thinking mode, instinctively at first. But, I soon discovered that we were in trouble, not from the virus but from ourselves.” ~ Roger W. Koops

market bomb

A Warning from Two Hedge Fund Managers: Rigged to Fail

– September 25, 2020

“At the end of the day, we should all learn from history. We have seen which monetary policies work and which ones fail. We know what a drunk looks like and we know an unsustainable market when we see one. Eventually there are consequences for risky behavior. Relying on proven principles may not be as glorious or exciting but it will guarantee we actually come out in one piece.” ~ Ethan Yang

gavin newsom

Abolishing California Passenger Cars Could Reduce Global Greenhouse Gases – by 0.26%

– September 25, 2020

“Governor Newsom claims the right to dictate what sort of new cars Californians can buy, but not until 2035. When 2035 arrives, a different California Governor and legislature will surely ignore Newsom’s political time bomb. For one state to switch to electric cars would be demonstrably irrelevant to global warming, but not to the right of that state’s consumers to spend their earnings as they wish.” ~ Alan Reynolds

elephant, donkey

Don’t Be a Party to Parties

– September 24, 2020

“Despite the Founders’ dislike of political faction, critics might retort, we have had political parties since the early 1790s and the economy has grown at modern rates ever since. That is right, but America has managed to grow despite slavery and tariffs and scads of other bad policies enacted by partisans. Think of how rich America would be today without those policy disasters.” ~ Robert E. Wright

capitol hill

The Aristocracy of Pull

– September 23, 2020

“The reader of Political Capitalism will be pulled away from blackboard models of perfect worlds we can imagine, but they will come away with a better understanding of the world we actually inhabit.” ~ Art Carden

tax, government, business

New Jersey’s Transaction Tax Grab

– September 17, 2020

“The way in which political figures view financial markets are a litmus test for their overall understanding of economics.” ~ Peter C. Earle