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Sunday, November 25, 2018

Academic Political Corruption, Part 1


With the election earlier this month, a new crop of socialists were given seats in Congress. In a recent interview with Maria Bartiromo on Fox News, Congressman Liz Cheney, now the number three Republican in the House, pointed to the radical agenda that these socialists will want to push. While she exaggeratedly compared it to the Soviet Union, she made the right call in casting this new wave of younger Democrats as politically outside the American mainstream.

Monday, November 19, 2018

Social Issues: Distractions in the Fight for Liberty

In the summer of 1988 I visited East Berlin. I spent an entire day walking along the Wall on the east side - or, as it was officially known in DDR, the "anti-fascist protection rampart". What was really a construction to keep people imprisoned in a totalitarian country, was spoken of by the prison management - East Germany's socialist leaders - as a barrier to protect the prisoners from the outside world. 

Friday, November 16, 2018

Welcome to the Socialist Republic of Calirado


The very foundation of the welfare state is the idea that people's standard of living is unrelated to their effort to provide for themselves. When the left demands that the rich "pay their fair share" of taxes - a somewhat less blunt version of "tax the rich" - the real message is that our tax code is as important a part of economic redistribution as entitlement programs are.

In short: tax and spend until there are no economic differences between people.

Thursday, November 8, 2018

Socialism: Dedicated Destruction


It has been a long time since I read a newspaper article that succinctly summarized the total, utter and unmitigated destruction that is socialism, but the November 8 article in the Wall Street Journal (p. A13, print edition) about corporate flight from Venezuela, really did the job.*

The article tells the story of how an Irish packaging company, Smurfit Kappa, finally gave up on the Venezuelan economy and left the country. Chased out by a bullying government, the company left behind local former workers, their families, a school that it funded, and an entire community that is now hurled into despair at the brink of existence.

Monday, November 5, 2018

Trends in the U.S. Economy: Value Added GDP

On November 1 the Bureau of Economic Analysis released GDP numbers by industry (which is the source for all data in this article). Representing value added, it is an often overlooked way to slice GDP and get a different view of our economy than the usual forms: spending and income. 

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