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OpenMarket: August 2012

  • "Fact Checker" Repeals The Laws Of Supply And Demand: The Bias Of PolitiFact

    August 31, 2012
    The left-leaning, self-proclaimed "fact checker" PolitiFact ignored the most basic economic law, the law of supply and demand, in claiming that cap-and-trade legislation, which is designed to limit energy consumption and increase the price of energy from non-renewable sources, could actually result in “an average lower cost for consumers.” Even the supporters of such legislation, such as President Obama, have admitted that such legislation increases energy costs to...
  • International Boilermakers: Labor Union Or Business Tycoons?

    August 31, 2012
    The International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers strikes again -- with a slap in the face to its members. The Boilermakers Union, which represents some 59,000 workers in the U.S. and Canada, is one of only a handful of labor organizations that own and operate their own bank; on the backs of the rank and file when it suits them.  Union leaders borrowed $5 million from Kansas City’s local 83 chapter, apparently to buy under-performing loans from the union’s bank, Brotherhood Bank and Trust. The funds were borrowed in 2010 as a 10 year unsecured loan with an interest rate of 2.75 percent. Union members are furious and wonder how their money could have been spent -- without their consultation- on bank loans. A clue: Top union officials; including President Newton Jones, the union’s secretary-treasurer, and two international vice-...
  • Today's Links: August 31, 2012

    August 31, 2012
    OPINION DONALD BOUDREAUX: "Inconceivable Complexity" "A market economy is indescribably vast and complex—its success depends on so many intricate, changing details all somehow being made to work smoothly together that the “facts” that are essential to its thriving cannot be catalogued with anywhere near the completeness that can be achieved by a 21st-century scientist studying and cataloging the “facts” that enable sparrows to fly. A sparrow is complex compared, say, to a limestone rock. Compared to the modern market economy, however, a sparrow is extremely simple." MERCURY NEWS EDITORIAL: "Take loophole out, then pass pension bill...
  • Regulation Roundup

    August 31, 2012
    Doormats banned in Leeds, exploding sausages in Canada, plus more.
  • CEI Podcast For August 30, 2012: Delayed FDA Rules Should Be Scrapped

    August 30, 2012
    Senior Fellow Greg Conko argues that these rules should be scrapped altogether for two reasons: they will do little to improve food safety, and they will give large food corporations an unfair competitive advantage over smaller producers.
  • Regulation Of The Day 227: Returning From The Moon

    August 30, 2012
    When Armstrong, Aldrin, and Michael Collins returned to Earth after the Apollo 11 mission, they actually filled out a customs form.
  • Diverse GOP Voices Emphasize Immigrant Contributions

    August 30, 2012
    [caption id="attachment_59817" align="alignleft" width="266"] Former-Secretary of State Condoleezza Rice[/caption] Even as the Republican National Committee adopted a platform advocating strict immigration enforcement, several influential party leaders are pushing for more openness. The Texas Republican Party managed to slip a new guest worker program into the platform, and party leaders from Tea Party Senator Rand Paul (R-Ky.) to former Secretary of State Condoleezza Rice emphasized the important contributions immigrants make to American society. Thanks to the Texas GOP delegates, the Republican platform now calls for “a legal and reliable...
  • Conventions Cost Taxpayers Up To $136 Million

    August 30, 2012
    Neither party has much to offer, but they do have a lot to take. And so it appears that their nominating conventions this week and next will cost taxpayers as much as $136 million. Voters have known for a while who the candidates will be, and most have already made up their minds, defeating two of the three reasons to have a convention in the first place. The third, party solidarity, is important. A party with low morale and little enthusiasm isn't going to do well in the polls. But independents like this writer shouldn't be on the hook for the political equivalent of trust fall exercises. Nor should Democrats be paying for the GOP's convention, and vice versa.
  • Worker Choice vs Forced Fraternity

    August 29, 2012
    Openmarket.org Public support and perception of labor unions is dwindling significantly. Even Hollywood is throwing them under the bus with the new film, Won’t Back Down. After reading The Heritage Foundation study Unelected Unions: Why Workers Should...
  • In Free Speech Victory, SEC Lifts Gag Rule On Hedge Funds And Venture Capital

    August 29, 2012
    Today's proposed Securities and Exchange Commission (SEC) rule lifting the outdated ban on "general solicitation" by hedge funds and venture capitalists is a victory for entrepreneurs, small investors, and, most of all, the First Amendment. Pursuant to the bipartisan Jumpstart Our Business Startups (JOBS) Act signed by President Obama, the SEC voted 4-1 to scrap a rule that had turned into an effective ban on routine communication with the general public from hedge funds, private equity firms, and venture capitalists. The Competitive Enterprise Institute had previously filed an amicus brief supporting the Bulldog Investors hedge fund's challenge to state variants of this ban as...

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