By choosing not to use the economic downturn as an excuse for more wasteful spending, Germany may have avoided Obama’s big mistake, but that does not mean German conservatives and Angela Merkel are supporters of economic liberty and individual freedom. Not even close. A good (or should I say “bad”) example of Merkel’s statist mindset […]

It’s hard to believe that anybody would classify the Germans as a master race after reading this Spiegel article. Bill Gates and Warren Buffett have a nutty (but at least non-coercive) plan for rich people to give away a big share of their fortunes. The German billionaires are rejecting this plan. But not because they […]

I’ve decided my one legacy to the world is the phrase, “Bad government policy begets more bad government policy.” This term, which I am modestly calling Mitchell’s Law, describes what happens when government intervention (Fannie and Freddie, for example, or Medicare and Medicaid) causes problems in a particular market (a housing bubble or a third-party […]

I’ve been very dismissive of supposed European “austerity” initiatives, in part because the term seems to describe politicians who want tax-financed government spending rather than Keynesian-style deficit-financed government spending. But what really matters is reducing the burden of government spending, regardless of how those outlays are financed. But if this Financial Times report is true […]