That view is consistent with the belief that the U.S. should remain politically and militarily uninvolved in other countries’ internal affairs. But this purist doctrine of non-interventionism is contrary to the founding principles of America’s early foreign policy.
Winston Churchill once said that a man must choose either a life of words or a life of action. Like Churchill, Madison demonstrated that rare individuals could be both scholars and statesmen. His scholarly quest to discover the means by which popular government could also be just government was not merely academic; his dedication to finding a "republican remedy” to the problems that had always plagued popular government was meant to answer the "sighs of humanity" throughout the ages.
But does he understand the right recipe for prosperity?
That’s an open question. At times, Trump makes Obama-style arguments about the Keynesian elixir of government infrastructure spending. But at other times, he talks about lowering taxes and reducing the burden of red tape.
I don’t know what’s he’s ultimately going to decide, but, as the late Yogi Berra might say, the debate over “stimulus” is deja vu all over again. Supporters of Keynesianism (a.k.a., the economic version of a perpetual motion machine) want us to believe that government can make the country more prosperous with a borrow-and-spend agenda.
Nothing is more usual, among states which have made some advances in commerce, than to look on the progress of their neighbours with a suspicious eye, to consider all trading states as their rivals, and to suppose that it is impossible for any of them to flourish, but at their expence. In opposition to this narrow and malignant opinion, I will venture to assert, that the encrease of riches and commerce in any one nation, instead of hurting, commonly promotes the riches and commerce of all its neighbours; and that a state can scarcely carry its trade and industry very far, where all the surrounding states are buried in ignorance, sloth, and barbarism.
Would Ayn Rand have Snapchatted?
In reading about historical figures it is easy to forget that they were once living, breathing beings. We can read and even watch the voluminous material about Ayn Rand’s life, but forget that she would have had restless nights just as we do. We can read her works and hear that she fled Soviet Russia in 1926. We may know of her as a stolid stoic, but undoubtedly, in leaving her homeland, her family, and her friends, she wept.
The lives of those who came before us can be a guide to our own choices. We learn about staunch idealists like Ayn Rand and Winston Churchill and we become more idealistic ourselves.
In the prison where Charlie spent 18 months, the main currency was mackerel packed in cans.
The story is actually fair and even affectionate, as it should be. Shrem was the first to implement a full-scale and highly successful money exchange service for Bitcoin at a time when hardly anyone else even believed that digital money could exist as a viable substitute for national money. It was exactly during this time that I got to know him as a friend. It was only three years ago, but it seems like the age of innocence in retrospect. I could tell that Charlie was brilliant but I had no idea of the scale of the enterprise he was undertaking. In the interview, Charlie also speaks of the heady naivete of those days.
Worse, it’s often repeated by people who should know better, like the education wonks at Third Way or the ranking Democrat on the U.S. Senate education committee.
In a particularly egregious recent example, a professor of educational leadership and the dean of the University of Wisconsin-Madison School of Education wrote an op-ed repeating the “no evidence” canard, among others:
The committee also expands the statewide voucher program. There is no evidence privatization [sic] results in better outcomes for kids. The result will be to pay the tuition for students who currently attend private school and who will continue to attend private school — their tuition will become the taxpayers’ bill rather than a private one.
I’ve put forth lots of arguments against tax increases, mostly focusing on why higher tax rates will depress growth and encourage more government spending.
Today, let’s look at a practical, real-world example.
I wrote a column for The Hill looking at why Greece is a fiscal and economic train wreck. I have lots of interesting background and history in the article, including the fact that Greece got into the mess by overspending and also explaining that politicians like Merkel only got involved because they wanted to bail out their domestic banks that foolishly lent lots of money to the Greek government.
But the most newsworthy part of my column was to expose the fact that “austerity” hasn’t worked in Greece because the private sector has been suffocated by giant tax hikes.
Government schooling has been failing children for years.
After growing concerned that her children were not receiving an adequate education from the Buffalo public school system in New York State, she made the decision to pull her kids out of their school.
"I felt that the district was failing my children,” Harris reported.
Harris’ feelings are not uncommon among parents of public school students. Government schooling has been failing children for years. However, since it is funded through tax dollars, rather than being a product of the market, it is incredibly difficult to keep public schools, and public teachers, accountable. This is precisely why many parents have begun considering other options that are better suited to their children’s educational needs.
How can a man living in such a fantasy world presume to tell other people how to perceive others and react to problems as if he’s been an innocent bystander witnessing these horrors for years?
Let me explain.
As California Lieutenant Governor (and former Mayor of San Francisco) Gavin Newsom, a Democrat, describes in his extraordinary new book, Citizenville, the developments in the use of the Internet for citizen solutions are transforming our approach to self-government and to problem solving (except in Washington and some large state capitals).
Judge Robart’s veto of Trump’s travel ban notwithstanding, there is not the slightest question but that the president, in his sole discretion, can choose to admit or exclude any foreigners he likes, based on “the interests of the United States.”
The Implications of the Dow Hitting 20,000
Last week, the Dow Jones Industrial Average finally climbed over the milestone of 20,000 after President Donald Trump signaled support for the Keystone Pipeline and froze new Obamacare regulations. My Forecast & Strategies subscribers took full advantage by being 100% invested.
U.S. President Donald Trump is upbeat about making America great again. But his first two weeks as president had mixed results. Judging from the growing public protests about him and his policies, one cannot help but wonder if the new president is heading for trouble.
Moore and Kudlow were relatively optimistic about the chances for tax cuts and deregulation for business, and hopeful that the anti-trade policies won’t develop. But even Trump is now more realistic about how soon the Republicans can replace ObamaCare or cut taxes.
Economic ConspiraciesA general economic principle is that any law or regulation that restricts market entry tends to impose the greatest burden on those who can be described as poor, latecomers, discriminated-against and politically weak.
The president of the NAACP’s St. Louis chapter, Adolphus Pruitt, has petitioned a circuit court judge to reject the St. Louis Metropolitan Taxicab Commission’s conspiratorial call to issue a temporary restraining order that would force Uber to shut down. He says the order would negatively impact nearly 2,000 African-Americans who work as Uber partners in black neighborhoods that have long been ignored by taxis and other transportation providers. In a statement, Pruitt said, “The immediate harm of a (temporary restraining order) would strand thousands of African American riders who depend on Uber to travel around a city that has measurable gaps in its transportation system and has failed to serve our neighborhoods for decades.”
Will Trump Continue the Bush-Obama Legacy?Last week, Congress passed a budget calling for increasing federal spending and adding $1.7 trillion to the national debt over the next ten years. Most so-called “fiscal conservatives" voted for this big-spending budget because it allows Congress to repeal some parts of Obamacare via “reconciliation." As important as it is to repeal Obamacare, it does not justify increasing spending and debt.
It is disappointing, but not surprising, that the Obamacare repeal would be used to justify increasing spending. Despite sequestration’s minor (and largely phony) spending cuts, federal spending has increased every year since Republicans took control of the House of Representatives. Some will attribute this to the fact that the Republican House had to negotiate with a big-spending Democratic president — even though federal spending actually increased by a greater percentage the last time Republicans controlled the White House and Congress than it did under President Obama.
The Revolution: A Manifesto, by Ron Paul
In his historic campaign for president, Ron Paul again and again held up the Constitution as a benchmark to judge the policies of the American government. For this, some libertarians criticized him. Was Paul not guilty of "constitution worship"? What has a document that began as an effort to replace the Articles of Confederation with a more effective and powerful central government to do with libertarianism? Indeed, some of his most severe critics claimed, Ron Paul did not qualify as a libertarian at all.
Ron Paul on The School Revolution
Ron Paul, Distinguished Counselor to the Mises Institute, recently released his new book The School Revolution: A New Answer for Our Broken Education System. Dr. Paul spoke with us about his new book and how decentralization, competition, and online instruction are revolutionizing education.
The Free Market: Your books in the past have tended to address issues such as hard money, private property, and central banking. Why are you now looking at education?
Ron Paul: People during the presidential campaigns spoke of a Ron Paul Revolution. But without a revolution in education, there can be no Revolution. If people get to learn about the freedom philosophy only in caricature, if at all, and they never get exposed to the Austrian economists, it will be difficult to impossible to sustain our present momentum over the long term.
Don’t misunderstand me: I am thrilled at our progress and more optimistic than I have ever been. But as for the long term, I am concerned all this excitement could fizzle if the infrastructure doesn’t exist to keep it going. And that means we can’t ignore education.
Lucas Is (Mostly) Clueless
The Wall Street Journal recently featured an interview of 1995 Nobel Prize winner Robert Lucas of "rational expectations" fame by Holman W. Jenkins Jr. — and if the interview reveals what they are thinking in the ivy towers of Hyde Park, then it seems that maybe "salt and fresh water" have been mixed to create an unsuitable brine that not only tastes bad but also is downright economically poisonous. One thing is for sure: neither the "salt water" nor "fresh water" economists understand what is happening to the economy. Perhaps it is time for what Murray N. Rothbard called the "no-water" economists to speak up.