What Happened to the GOP's Free-Market Principles? | David Boaz | Cato Institute: Commentary

What Happened to the GOP's Free-Market Principles? | David Boaz | Cato Institute: Commentary: 'In a growing economy, companies succeed and fail every day. Technology changes. Consumer tastes change. New competitors offer a better product or a better price. Raw materials or labor becomes too expensive. Some companies just aren’t viable, and some investments turn out to have been mistaken.

That’s what the “creative destruction” of a market economy is all about. Companies constantly seek to serve consumers better. And often one company’s success means that other companies fail. Manufacturers of obsolete products often go out of business. Jobs and investments are lost, but what’s the alternative? Should we be keeping the firms that once made horse-drawn buggies, gramophones, and slide rules in business? No, we understand that the process of economic change makes us all better off, even though there can be short-term pain for the owners and employees of failed firms.

Republicans are supposed to know all this. That’s why they proclaim their devotion to free markets and oppose industrial policy, government subsidies, bailouts, and other schemes to override the market process and keep current firms in business even when they’re no longer meeting consumers’ needs.'

'We’d never get new companies like Staples, Domino’s, Bright Horizons, and Sports Authority — companies that Romney helped fund and nurture at Bain Capital — if investment capital was locked into existing companies.

And sometimes, as the movie “Other People’s Money” demonstrated, it takes a “predatory corporate raider” to go in and shake up a company, moving the land, labor, and capital to places where they can be more productive.'

Drug Mayhem Moves South | Ted Galen Carpenter | Cato Institute: Commentary

Drug Mayhem Moves South | Ted Galen Carpenter | Cato Institute: Commentary: 'The primary reason the cartels are so powerful both in Mexico and Central America has to do with the fundamental principles of economics. There is a huge demand for drugs, especially in the United States but also in Europe and, increasingly, in other portions of the world. When such a robust demand for a product exists, it is an economic certainty that profit-seeking entities will try to fulfill that demand. Prohibiting commerce of a product does not negate that dynamic; it merely perverts it. Instead of legitimate businesses engaging in lawful competition, the trade falls into the hands of elements that don’t mind breaking the law and assuming all the other risks entailed in operating in a black market. Often, that means the most ruthless, violent individuals and organizations come to dominate the trade.'

State almost caught up on concealed carry permits - 1330 WHBL Sheboygan's News Radio

State almost caught up on concealed carry permits - 1330 WHBL Sheboygan's News Radio: About 71,000 people have applied for permits since the concealed carry law took effect November first.

That is about 1.6% of the adult population! That already puts us 1/3 the way up the list by license rate (of an old list).

Is Further Intervention a Cure for Prior Intervention? - Percy L. Greaves, Jr. - Mises Daily

Is Further Intervention a Cure for Prior Intervention? - Percy L. Greaves, Jr. - Mises Daily: 'In the United States, an example of this trend is clearly seen in the demand arising from some employers and their associations for the individual states to enact so-called right-to-work laws. The proposed laws would outlaw all employment contracts which specify that all employees must pay dues to the union chosen by the majority of an employer's employees in a government supervised election. Such contracts, even though they represent the free and voluntary wishes of the employers and the employees concerned, would be declared to be against public policy and therefore illegal. A growing number of employers believe that such laws will bring about a better balance of the scales in the "class warfare" supposedly going on between "labor" and management. This would seem to indicate that many present-day employers have neither faith in freedom nor an understanding of the economic principles which reveal that a free market is the most efficient means that free, peaceful, and intelligent men can use for the advancement of individual men as well as the general welfare.'

WisPolitics.com: Gov. Walker: Money saved on property taxes donated to charity

WisPolitics.com: Gov. Walker: Money saved on property taxes donated to charity: “The money property taxpayers are saving on their tax bills all across Wisconsin will help improve our communities, our economy, and ultimately leave our state better off for the next generation,” said Governor Walker. “By making this donation I am encouraging others to help improve our state by doing what they can to donate to charitable causes.”

Super PACs: Money Well Spent | John Samples | Cato Institute: Commentary

Super PACs: Money Well Spent | John Samples | Cato Institute: Commentary: 'So are super PACs shaping up to be a disaster for democracy in 2012? Hardly. The $14 million in Iowa super PAC spending funded an assault on Gingrich for committing ethics violations, being soft on illegal immigrants and teaming with Nancy Pelosi on global warming issues. The Gingrich ad to come apparently says Romney's company, Bain Capital, looted companies and left people unemployed.'

'Do these ads constitute legitimate political speech? Wouldn't voters want to know if Gingrich had violated ethics rules, received large payments from Freddie Mac despite claiming to be against big government and had supported positions contrary to the views of most Iowa Republicans? Romney says he is a businessman who knows how to create jobs. Should voters hear claims to the contrary? Of course.'

'John Coleman, a political scientist at the University of Wisconsin-Madison, found that spending on negative ads increased voter information about candidates, especially among those who were least informed prior to the ads.

Other political scientists have found that, contrary to the caricature, negative advertising increases voter turnout and reduces the advantages normally held by incumbent officials. Perhaps it is not surprising that Republican turnout in Iowa was higher than experts expected.'

'the alternative is greatly restricting the rights of outside individuals to fund speech criticizing politicians (a right that many paid commentators on television, the radio and online, many of them wealthy, already happen to have, by virtue of being members of the media).

This seems to me to be a far scarier outcome.'

Sen. Paul Announces Taxpayer Savings at Louisville Press Conference Rand Paul | United States Senator

Sen. Paul Announces Taxpayer Savings at Louisville Press Conference Rand Paul | United States Senator: 'U.S. Sen. Rand Paul today announced that he is returning $500,000 to the United States Treasury - money unspent from his official operating budget. The total amount being returned is more than 16 percent of Paul's original office budget. As far as is known, no U.S. Senator has returned as much to taxpayers.'

'Paul achieved the savings while also having the most active office for a freshman in the U.S. Senate. In his first year, he introduced more legislation and amendments than any other freshman legislator, often teaming-up with fellow Senators to support legislation.'

'Paul's office was one of only three in Washington to produce an entire fiscal blueprint for the federal government, a promise he made while campaigning in 2010. His plan, introduced in the first few weeks of his term, would balance the federal budget in five years.

Paul also kept his promise to work to reform Social Security. His proposal, introduced with Sens. Lindsay Graham and Mike Lee, would fix the entire system for 75 years. Later this month, Sen. Paul will introduce a plan to save Medicare.'

Will Romney End PBS, Public Radio Funding? | Nat Hentoff | Cato Institute: Commentary

Will Romney End PBS, Public Radio Funding? | Nat Hentoff | Cato Institute: Commentary: 'For decades as a reporter, I have continually found vital information on public radio and television that at first was available nowhere else.'

Just because a program has benefits doesn't mean that it is good overall? The "bridge to nowhere" also had benefits.

More importantly, where is the constitutional authority for the federal government to fund that?

'"In the commercial market ... the stuff for kids is targeted to sell things to kids, not to educate them"'

If children and parents choose to watch those shows, then that is the kind of shows that will be produced. I do see popular shows that sell products related to the show but I don't see popular shows that advertise to kids -- but maybe those shows exist and we don't watch them.

'In an era of media consolidation, fewer national and foreign bureaus and mass newsroom layoffs, NPR is one of the only media outlets actually bringing listeners more reporting (actual reporting, not warped pontificating) from around the country and around the world.'

TV broadcast media isn't the only media anymore -- welcome to the 21st century! I think mass-broadcast media is outdated and on its way out. It is being replaced by media where the time, place, and content can be much more customized to the user (i.e. internet delivery).

Investment or Malinvestment? - Igor Karbinovskiy - Mises Daily

Investment or Malinvestment? - Igor Karbinovskiy - Mises Daily: 'Suppose I write an article on the economy that no one wants to read, much less pay me for. Now suppose that the government pays me for it anyway — as part of a jobs bill. Presto! A new job has been created; a person who was previously unemployed is now working. Better yet, that person is me! This job certainly increased my standard of living. But what have I produced? What have I contributed to the economy? Because no one wants my article, the value of my contribution to the economy is zero. The time I've spent in writing, and the money the government paid me, have been wasted. Worse, because this money allows me to consume things that I (and other people) want — things like food and shelter — the net effect on the economy is negative: zero value in, positive value out. This, then, is an example of a "bad" job.'

The Income-Inequality Myth | Michael D. Tanner | Cato Institute: Commentary

The Income-Inequality Myth | Michael D. Tanner | Cato Institute: Commentary: 'Poverty, of course, is a bad thing. But is inequality? After all, if we doubled everyone's income tomorrow, we would eliminate an enormous amount of economic hardship. Yet, inequality would actually increase. As Margaret Thatcher said about those who obsess over inequality, "So long as the [income] gap is smaller, they would rather have the poor poorer."

In what way does someone else's success harm me?'

'But as Nobel Prize–winning economist Gary Becker pointed out, "It would be hard to motivate most people if everyone had the same earnings, status, prestige, and other rewards."

Another Nobel Prize winner, F. A. Hayek, concluded, "The rapid economic advance that we have come to expect seems to be in large measure a result of this inequality and to be impossible without it. Progress at such a fast rate cannot take place on a uniform front but must take place in an echelon fashion, with some far in front of the rest."'