Banking's Past, Present, and Future
The sub-prime crisis and the ensuing economic slowdown have led many to question some widely held economic tenets, particularly the belief that unfettered markets inevitably lead to the best of all possible outcomes. Writing in yesterday’s Wall Street Journal, University of Chicago economics professor and Nobel laureate Gary Becker whines about this assault on the … Read more
Writing in Friday’s Wall Street Journal, Stanford professor Edward Lazear argues that the real danger to the American worker is too much government–in other words: too many taxes and too much spending. Prof. Lazear writes: During the debt-ceiling debate, President Obama characterized his push for higher taxes and less aggressive budget cuts as being helpful … Read more
Writing in today’s Wall Street Journal, Stanford economist Michael Boskin warns that the specter of “growth-destroying confiscatory” tax rates looms if the Obama Administration has its way. Be afraid. Be very afraid. Or maybe not. The Administration’s proposed changes to the tax code are neither as dramatic not as alarming as Boskin presents. During the … Read more
Writing in today’s Wall Street Journal today, Senators Olympia Snowe (R-ME) and Jim DeMint (R-SC) tout their support (along with their 45 Republican Senate colleagues) for a balanced budget amendment to the constitution. This is a bad idea for three reasons. First, it is bad economic policy. Second, if passed, it would likely make the … Read more