“I’ve been involved in three or four start-ups. This is the country where you can do it. Nowhere else.” — John Kapoor, an American from India and a member of Forbes 400 Next year, our theme at FreedomFest is “Can We Restore the American Dream?” We’ve already received a strong response, as we do not […]
Next week, the Nobel committee in Stockholm will reveal the winner(s) of the Nobel Prize in economics. It reminds me of the celebration I attended last week at George Mason University, where more than 300 economists and political thinkers gathered to celebrate Friedrich Hayek’s winning of the Nobel Prize in economics in 1974. The star-studded […]
At the invitation of Steve Forbes, I was able to attend Derek Jeter’s last game as a player at Yankee Stadium. Mr. Forbes has season tickets and occasionally invites me to join him. Tickets for the game were selling for $850 and more, and those were bleacher seats, so I felt lucky. The Yankees were […]
“What I love most about FreedomFest are the debates!” — John Mackey (CEO, Whole Foods Market) Many of my free-market friends have attacked Paul Krugman, the inflammatory New York Times columnist and Nobel Prize winner, for deliberately distorting the facts about the economic recovery, austerity programs in Europe, the federal deficit, taxes, school choice, etc. […]
“There is much revenue in economy, and no revenue is sufficient without economy.” — Benjamin Franklin This week’s Barron’s tells the story of Stephanie Mucha, who at age 97 recently gave away $3 million to charity. Despite never earning more than $23,000 a year at a medical center in Buffalo, New York, she has a […]
“Don’t feel, think!” — Ayn Rand “Don’t think, feel!” — Bruce Lee I spent the last week in Hong Kong at the Mont Pelerin Society meetings. While there, I visited the Bruce Lee exhibit that was held at the Hong Kong Heritage Museum. I took the metro, which is clean and top quality (our New […]
HONG KONG — The opening Mont Pelerin Society (MPS) address by Allan Meltzer, of Carnegie-Mellon University, warned attendees that the welfare system in America is getting out of control and could result in slow economic growth for years to come. “The greatest threat today is the welfare state,” Meltzer said. “Lowering taxes does not appeal to […]
“The college educated are more likely to own stocks and less prone to use high-cost borrowing.” — Journal of Economic Literature Financial literacy is important, but sadly, only a handful of states require students to take personal finance or an investment course. I earned a Ph. D. in economics and never took a class in […]
Most Austrian economists argue that the best response to the 2008 financial crisis was to “do nothing.” By refusing to bail out the banks, investment firms and insurance companies, the government would be sending a clear message that Wall Street and the private markets must avoid irresponsible decisions in the future. A few make an […]
“Libertarians are living in a fantasy world.” — Paul Krugman, New York Times The New York Times magazine published a cover story last week with the headline, “Has the Libertarian Moment Finally Arrived?” It highlighted Sen. Rand Paul’s recent growth in popularity and his potential as a presidential candidate in 2016. But the reporter did […]
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