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Obama and Teddy Roosevelt: Both Progressives, Both Clueless about the Economy | Jim Powell | Cato Institute: Commentary: 'Since the rise of industrial capitalism, however, the greatest fortunes generally have been made by serving millions of ordinary people.'
'TR confused the size of businesses with the size of markets. Many businesses were big, but markets were bigger, they were growing faster, and even the biggest businesses were losing market share.
Far from being monopolistic, the American economy of TR's time was intensely competitive.'
Tuesday, December 27, 2011
How Bad Economies Recover Fast When Governments Get out of the Way | Jim Powell | Cato Institute: Commentary
How Bad Economies Recover Fast When Governments Get out of the Way | Jim Powell | Cato Institute: Commentary: 'A new currency, however, wouldn't buy anything as long as chronic shortages persisted, so Erhard announced that price controls and rationing regulations would be abolished. Price controls simultaneously (1) discourage suppliers from providing more goods and (2) encourage consumers to line up for whatever might be available, which is why such controls cause shortages. U.S. commander Gen. Lucius Clay reportedly warned Erhard, "My advisers tell me you're making a terrible mistake." Erhard said, "Don't listen to them, General. My advisers tell me the same thing."
Within hours after Erhard's announcement, goods that had been reserved for black market deals began to reappear on long-empty store shelves. During the 1950s, West Germany's industrial production soared 225 percent. West Germany became a leading exporter. Overall, West Germany turned in the best economic performance of any developed country during this period. West Germany charged through the 1970s without the stagflation that afflicted the United States and other countries.
Although it's well-known that a devastated economy like Germany's could grow at above-average rates, the fact is nobody predicted the German economic miracle.'
Within hours after Erhard's announcement, goods that had been reserved for black market deals began to reappear on long-empty store shelves. During the 1950s, West Germany's industrial production soared 225 percent. West Germany became a leading exporter. Overall, West Germany turned in the best economic performance of any developed country during this period. West Germany charged through the 1970s without the stagflation that afflicted the United States and other countries.
Although it's well-known that a devastated economy like Germany's could grow at above-average rates, the fact is nobody predicted the German economic miracle.'
In Third White House Bid, Paul's Message The Same | Fox News
In Third White House Bid, Paul's Message The Same | Fox News: His pledge to "never vote for legislation unless the proposed measure is expressly authorized by the Constitution" earned him a nickname: Dr. No.
He refused to vote for any tax increase or any budget that was not balanced, and eschewed most "pork barrel" projects for his district. He even voted against awarding Congressional Gold Medals to Mother Teresa, Nancy and Ronald Reagan, and civil rights icon Rosa Parks — though he suggested his colleagues "each put in 100 bucks" to pay for the $30,000 cost of a medal for Parks.
He has refused to enroll in the House pension program, saying it would be "hypocritical and immoral" to accept a benefit unavailable to the taxpayers who fund it. He also discouraged his five children — including the future Kentucky U.S. senator and tea party darling Rand Paul — from applying for government-backed student loans.
He refused to vote for any tax increase or any budget that was not balanced, and eschewed most "pork barrel" projects for his district. He even voted against awarding Congressional Gold Medals to Mother Teresa, Nancy and Ronald Reagan, and civil rights icon Rosa Parks — though he suggested his colleagues "each put in 100 bucks" to pay for the $30,000 cost of a medal for Parks.
He has refused to enroll in the House pension program, saying it would be "hypocritical and immoral" to accept a benefit unavailable to the taxpayers who fund it. He also discouraged his five children — including the future Kentucky U.S. senator and tea party darling Rand Paul — from applying for government-backed student loans.
Police Aim To Crack Down On Violent New Trend, 'Knock Out' | Fox News
Police Aim To Crack Down On Violent New Trend, 'Knock Out' | Fox News: 'It isn't clear how long Knockout King has been around, nor is the exact number of attacks known. The FBI doesn't track it separately, but Slay said he has heard from several mayors about similar attacks and criminologists agree versions of the game are going on in many places.
St. Louis Police Chief Dan Isom said the city has had about 10 Knockout King attacks over the past 15 months.'
St. Louis Police Chief Dan Isom said the city has had about 10 Knockout King attacks over the past 15 months.'
Thursday, December 22, 2011
Wis. Gov. Has Hard Time Living Up To Jobs Pledge | Fox News
Wis. Gov. Has Hard Time Living Up To Jobs Pledge | Fox News: 'A recent report by the nonpartisan Wisconsin Taxpayers Alliance backed up complaints about the national economy dragging down job creation in the state. The report found job growth and unemployment in Wisconsin has been closely tied with the national economy both during recessions like the one that began in 2008, and economic booms like when Thompson was governor in the 1990s.
State officials can change attitudes about the economy, but because it is so closely tied to national and global forces, there's little they can do to affect the actual direction of the economy, said Taxpayers Alliance President Todd Berry.'
State officials can change attitudes about the economy, but because it is so closely tied to national and global forces, there's little they can do to affect the actual direction of the economy, said Taxpayers Alliance President Todd Berry.'
Deja Voodoo: Detroit Repeats Big City Rail Mistakes | Randal O'Toole | Cato Institute: Commentary
Deja Voodoo: Detroit Repeats Big City Rail Mistakes | Randal O'Toole | Cato Institute: Commentary: 'Although promoters often call light rail "rapid transit," it is actually very slow.
Nationally, light-rail lines average little more than 20 miles per hour. When operating in city streets such as Woodward, they average less than 15 mph. Such slow speeds entice few people out of their cars. The $60 million-per-mile cost of building light rail is enough to build a four-lane freeway. But the average light-rail line carries only about one-fifth of a freeway lane. Since most of those people would have ridden a bus, light rail offers little congestion relief.'
'Nor is light rail good for the environment. Nationally, light-rail operations use slightly less energy, per passenger mile, than the average car. But building light rail requires enormous amounts of energy that will never be repaid by the annual energy savings.'
'Buses can do anything light rail can do except spend lots of your money, but buses are faster, safer, and more flexible than trains. If traffic patterns change, bus routes can change overnight while moving a rail line takes years of planning and construction.
Rail advocates say you need rail transit to be a world-class city. The truth is that cities that use 1930s technologies to solve 21st century transportation problems are world-class chumps.'
Nationally, light-rail lines average little more than 20 miles per hour. When operating in city streets such as Woodward, they average less than 15 mph. Such slow speeds entice few people out of their cars. The $60 million-per-mile cost of building light rail is enough to build a four-lane freeway. But the average light-rail line carries only about one-fifth of a freeway lane. Since most of those people would have ridden a bus, light rail offers little congestion relief.'
'Nor is light rail good for the environment. Nationally, light-rail operations use slightly less energy, per passenger mile, than the average car. But building light rail requires enormous amounts of energy that will never be repaid by the annual energy savings.'
'Buses can do anything light rail can do except spend lots of your money, but buses are faster, safer, and more flexible than trains. If traffic patterns change, bus routes can change overnight while moving a rail line takes years of planning and construction.
Rail advocates say you need rail transit to be a world-class city. The truth is that cities that use 1930s technologies to solve 21st century transportation problems are world-class chumps.'
Team O's Denial on College-Cost Crisis | Neal McCluskey | Cato Institute: Commentary
Team O's Denial on College-Cost Crisis | Neal McCluskey | Cato Institute: Commentary: 'Only about 57 percent of people who start four-year programs finish within six years, and most of the remaining 43 percent will probably never graduate. So lots of people will gamble for $1 million, but few will win.'
'The Obama administration has set the goal of leading the world in the percentage of the population possessing a college degree.
But the reality is that we've already got armies of people in college who'll never finish. There's little reason to think we could get even more people in and through.'
'The Obama administration has set the goal of leading the world in the percentage of the population possessing a college degree.
But the reality is that we've already got armies of people in college who'll never finish. There's little reason to think we could get even more people in and through.'
Pa.'s Rhyming Justice Pens Insurance Fraud Opinion | Fox News
Pa.'s Rhyming Justice Pens Insurance Fraud Opinion | Fox News: 'Part of his opinion reads: "Sentenced on the other crimes, he surely won't go free, but we find he can't be guilty of this final felony."'
The Back Story: Santa Claus | Fox News
The Back Story: Santa Claus | Fox News: 'Although skeptics abound, the spirit of every Santa Claus is rooted in a real saint; St. Nicholas, a third-century bishop in the Byzantine Empire, or modern-day Turkey. The relics of some of his bones rest in New York's Greek Orthodox Cathedral.
"He was known as a giver of gifts, but he gave them secretly," says Father Mark Arey, of the Greek Orthodox Archdiocese.
"He redeemed people from slavery, but he did it secretly. He gave dowry's to women, but he gave them secretly. He helped the poor, but secretly, never to embarrass anyone or glorify anyone but to glorify God."
The stories go that St. Nicholas also dropped coins through windows, some landing in children's shoes or stockings hung out to dry.'
"He was known as a giver of gifts, but he gave them secretly," says Father Mark Arey, of the Greek Orthodox Archdiocese.
"He redeemed people from slavery, but he did it secretly. He gave dowry's to women, but he gave them secretly. He helped the poor, but secretly, never to embarrass anyone or glorify anyone but to glorify God."
The stories go that St. Nicholas also dropped coins through windows, some landing in children's shoes or stockings hung out to dry.'
Wednesday, December 21, 2011
Why Do GOP Bosses Fear Ron Paul? | The Nation
Why Do GOP Bosses Fear Ron Paul? | The Nation: 'Even if it were desirable, America is not strong enough to police the world by military force. If that attempt is made, the blessings of liberty will be replaced by coercion and tyranny at home. Our Christian ideals cannot be exported to other lands by dollars and guns. Persuasion and example are the methods taught by the Carpenter of Nazareth, and if we believe in Christianity we should try to advance our ideals by his methods. We cannot practice might and force abroad and retain freedom at home. We cannot talk world cooperation and practice power politics.'
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