Great column by Arnold Kling and Nick Schulz on how markets really operate – and why government intervention either causes problems or prevents markets from fixing them. For those of you who care to get in the weeds, this is one of the reasons why the “Austrian School” of Hayek and Mises is better for […]

Isn’t this just wonderful? The feds have announced new rules, but it’s not clear what they are. According to some reports, though, passengers will not be allowed to have anything it their laps. Does this mean books? Blackberries? Are we allowed to twiddle our thumbs? Since I have speeches next month in Canada and the Cayman […]

The proposals on Capitol Hill will make government more expensive and increase deficits. Government programs almost always cost more than the preliminary estimates, and projections for healthcare spending have been notoriously inaccurate. Moreover, tax increases will not collect as much revenue as politicians want because of “Laffer Curve” effects. Last but not least, the promised spending restraint is a farce. If congressional forecasts are modified to be more realistic, deficits and debt will climb by at least $600 billion – and perhaps more than $850 billion – over the next 10 years.