November 19, 2008[youtube:http://www.youtube.com/watch?v=0UzZXALdQHo 285 234]
November 18, 2008Working at a think tank you hear a lot of complaints about America's left-leaning universities and professors and their hostility to free market ideas. These claims are largely true of the academy in America, but the academy in Venezuela is about to get much, much worse.
According to newsday.com, Hugo Chavez is working with Iran to establish the "University of Civilizations," which will be dedicated to the development and discussion of "21st century socialism."
I wonder how the 21st century variety of socialism will differ from the 20th century kind. During the last century socialism led to famine, starvation, war, and the near collapse of civilization in many...
November 17, 2008The American auto industry is facing some tough times and, bailout or not, will eventually have to go through a difficult period of readjustment. But this has all happened before and will likely happen again.
In fact, the dominance of the big three auto manufactures was created by an era of tremendous failure. During the Great Depression, American lost dozens upon dozens of auto manufacturers and fixtures of Americana. The Auburn Automobile Company, Stutz, Pierce-Arrow just to name a few, died slow and painful deaths during that decade and several others that had existed for years closed shop....
November 17, 2008You can visit GMFactsandFiction.com supposedly to get some facts about why GM ought to be given billions of your tax dollars. You'll find, however, that the site contains more fiction than fact, and most of that fiction is centered around doomsday-scenario scare-tactics.
In the video below, GM claims that allowing the Big Three auto makers&Mdash;GM, Ford, and Chrysler—to fail would result in wholesale economic catastrophe. Of course, this is pure fiction.
November 17, 2008Hat tip to Iain Murray for pointing out this gem at The Onion:
In The Know: Should The Government Stop Dumping Money Into A Giant Hole?
November 14, 2008The G20 meet today at the White House to determine how to save the world's economies. Yet, these are the same folks who for years have promoted easy credit, pushed banks to issue unsound loans, created government programs or sponsored entities to buy up those risky loans, and otherwise corrupted the free market system.
Hopefully, world leaders realize that manipulating financial markets for political gain can only hurt those markets, not help them. As CEI President Fred L. Smith Jr. and John Berlau, the Director of the Center for Entrepreneurship, point out in the Washington Times, the best solution is for government to remove...
November 14, 2008From AfricanLiberty.org:
A detailed anylysis of events that led to the financial crisis and the half-hearted measures being proposed by governments to solve it.
November 13, 2008BusinessWeek quoted CEI's own Sam Kazman in a recent piece, "Automakers' $25 Billion Fast-Track Bailout," about the auto industry's recent run to Washington for part of the $700 billion bailout debacle:
The Competitive Enterprise Institute (CEI) condemned the bailout proposals as a huge mistake that would hurt taxpayers and, ultimately, the auto industry itself.
"Congressional attempts to favor domestic automakers will be a waste of taxpayer money, a skewing of automaker competition, and an invitation for even more industries to seek bailouts in the future," said Sam Kazman, CEI general counsel. "If Congress wants to help the auto industry, the...
November 12, 2008Wayne Crews, OpenMarket.org contribuor and CEI Vice President for Policy, was cited yesterday in CFO Magazine:
"While [Sen. Obama's advisers are] busy trying to lower expectations for a 100-day agenda, we prefer to raise them," admitted Wayne Crews in his own list to the senator, submitted as vice president for policy for the Competitive Enterprise Institute, a group promoting free markets and limited government. Among CEI's 42 requests are a rollback of the Sarbanes-Oxley Act, which it calls "overly aggressive"; extending stock options to more workers; a definition of "corporate social responsibility"; changes in labor regulations; and encouragement of "innovation in credit...
November 10, 2008Greg Mankiw, a professor of economics at Harvard University, offers up some good advice for the new President-elect in the form of a post at his personal blog. For the most part, the post is a call for realism. One of my favorite chunks:
You promised that you would cut taxes for 95 percent of Americans, that you would vastly expand health insurance coverage, and that you would never cut Social Security benefits or raise the retirement age. You will almost surely have to renege on some of these promises. As your economic team will often remind you, even if the laws of arithmetic are ignored during campaigns, they provide a real...