The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. - F.A. Hayek
Posted in Corporatism on Apr 24th, 2008
The following is excerpted from remarks by David Einhorn in October 2007:
Consider municipal bonds. According to S&P’s long-term data the 10 year default rate on an A rated municipal bond is 1%; while a corporate bond’s default rate is 1.8%; and a CDO’s is 2.7%. An A rated muni has the same chance of default […]
Posted in Corporatism, You Can't Have it Both Ways on Apr 17th, 2008
The following is my editing, rewriting and excerpting various portions of a 1995 publication by my colleague Walker Todd entitled, ”The Federal Reserve and the Rise of the Corporate State.”
Many of the issues that had been at the forefront of Anglo-American constitutional and economic debates from the time of Francis Bacon (early 17th century) onward were again […]
Posted in Corporatism, Extended Order on Apr 8th, 2008
the typical trucker of the “typical” politician? It’s not even a close competition! This interesting article from the Quad-City Times illustrates why.
Truckers appreciate and understand Hayek and Leonard Read:
Hills then removed his wristwatch, using it to explain his point of view: “Every piece of this watch was trucked from somewhere. If you can’t keep up […]
Posted in Corporatism on Apr 3rd, 2008
Learn about how the Fed has completely over-reached its statutory authority and is laying waste to the U.S. Constitution. We The People don’t seem to understand, or care, for that matter.
Posted in Corporatism on Mar 10th, 2008
Steven Landsburg understands, perhaps better than anyone, what the difference is between the seen and the unseen. I like to say that people hate high prices unless they are receiving them (remember, wages are a price). Landsburg points out that:
We see the sad faces of the people moving out, but we don’t as often see […]
Posted in Corporatism, Economic Illiteracy on Feb 24th, 2008
Just about finished with David Cay Johnston’s “Free Lunch.” It is a book that claims to be a tell all about how the wealthiest Americans enrich themselves at government expense and how the little guy gets stuck holding the check at the end of the day. Indeed, there are several chapters that tell eye-popping stories […]
Posted in Corporatism on Sep 21st, 2007
First they steal our jobs, then they try to poison us and kill our children!
U.S. regulators are recalling about one million Chinese-made baby cribs, branded Simplicity and Graco, after the cribs were linked to at least two infant deaths. In both deaths, the cribs were assembled incorrectly by consumers. The recall is the latest tied […]
Posted in Corporatism on Jul 13th, 2007
With so much recent focus on the perils of economic inequality, Sheldon Richman reminds us where class conflict really comes from:
As long as government is in the wealth-transfer business, class conflict will persist. Class in this sense is an important tool of political analysis. It’s time that advocates of individual liberty and free markets reclaimed […]
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