Category Archives: Economics

300 Economists Can’t Be Wrong

While the Obama Administration continues to support the drug war, consensus is continuing to grow that current prohibitionist policies are far too costly with little benefit to the taxpayers. Economists are now signing a petition stating as much: More than … Continue reading

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Free Markets and the Eradication of Poverty

My reading, as of late, has been heavy with economics books – from Hayek to Friedman to Adam Smith. The casual observer might note that list is comprised entirely of free market economists, and they’d be right. I believe personal … Continue reading

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Quote of the Day

“The law, contrary to all the ordinary principles of justice, first creates the temptation, and then punishes those who yield to it.” -Adam Smith

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How the Drug Quagmire Harms Business

Forbes has posted a great piece by Eric E. Sterling on how the drug war hurts businesses and investors in addition to increasing public and private corruption: In the early 1980s, I helped Congress investigate how drug money laundering was … Continue reading

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Wisconsin – It’s Working

If you were one of the people that joined in the media driven hysteria surrounding Scott Walker’s Budget Reform bill and predicted the end of civilization as we know it, please take a moment to watch the following video produced … Continue reading

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Rick Perry and the “Texas Miracle” That Wasn’t

As Americans and GOP primary voters specifically are hearing more about Governor Rick Perry and his economic record in Texas, more and more scrutiny is being given to the reality of jobs in Texas. As the Fiscal Times shows, the … Continue reading

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The Truth about Texas Jobs

From the halls of New England to the fields of Iowa, GOP primary voters are hearing a lot about Governor Rick Perry’s record on jobs in Texas in his bid to win the Republican nomination. Statistic do show that Texas … Continue reading

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Why Rick Perry?

As the 2012 nomination process gears up for the primary season, the already crowded GOP field is making way for yet another contender – Texas Governor Rick Perry. Perry enthusiasts are quick to highlight Perry’s fiscal record in Texas as … Continue reading

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A Tentative Debt Deal?

ABC News is reporting a few details of a possible debt ceiling agreement that has yet to be confirmed. Among the features of the possible compromise: A debt ceiling increase of up to $2.1 to $2.4 trillion (depending on the … Continue reading

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Jon Huntsman at Dartmouth

On Tuesday, Governor Jon Huntsman spoke at Dartmouth’s “Leading Voices” Summer Lecture Series and discussed not only the American economy but also our relationship with China. Since the first rumors of Jon Huntsman joining the 2012 race there have been … Continue reading

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The Walkerization of Chicago

Lost amid the press reports surrounding the national debt ceiling debate and Minnesota’s state government shutdown is the story of one midwest politician’s heavy handed approach to balance his budget at the expense of union workers, laying off over 600 … Continue reading

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Deficit Commission Haunts President

You know it’s not looking good for the President when journalists at NBC and The Atlantic start echoing mild-mannered conservative bloggers like yours truly. I’ve been fairly skeptical of the President’s recent enthusiasm for a debt reduction based on the … Continue reading

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Debt Negotiations: When Compromise Isn’t Compromise

As debt negotiations continue in Washington, the political games and spin have already taken the place of cooperation in the name of the American people. From MPR: The meeting Monday was expected to focus on potential debt savings identified by … Continue reading

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Yes, Mr. Press Secretary – Unemployment Rates Do Matter

The Labor Department released their report for June with some disappointing numbers. Job creation was well below the predictions and unemployment rose to 9.2%. As if attempting to spin this bad news, Thursday President Obama’s top political adviser, David Plouffe, … Continue reading

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Debt Ceiling Negotiations: Politics or Pragmatism?

Charles Krauthammer delivers a must read piece today on the budget, the debt-ceiling and Obama: The Elmendorf Rule But the Republican House did do its homework. It’s called a budget. It passed the House on April 15. The Democratic Senate … Continue reading

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The Constitutionality of Debt

As the deadline for a debt ceiling agreement nears, there has been an increase in alternative ideas to the Federal government’s fiscal dilemma. One of these ideas, while slightly radical, presents an interesting Constitutional challenge to the entire debate as … Continue reading

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The Ongoing Epidemic of Fiscal Child Abuse

Previously at OB&B, I featured the book The Coming Generational Storm – an eye-opening read on the fiscal woes facing the federal government that the authors describe as “fiscal child abuse.” One of the co-authors, Laurence Kotlikoff, is an economics … Continue reading

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Public Pensions Pressure Local Governments

The Wall Street Journal has an excellent piece discussing the on-going budgetary problems facing America’s cities and municipalities and their cause: While the national media has focused on state budget face-offs between government unions and governors such as Wisconsin’s Scott … Continue reading

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The Failures of Keynesianism

An excellent read from Peter Foster that made me proud to admit I’ve never been a Keynesian: The astonishing aspect of all this — as pointed out numerous times in this space — is that spend-yourself-rich Keynesianism had already been … Continue reading

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Why Raising Income Taxes Doesn’t Hurt the Rich

Contrary to popular belief, raising tax rates on “the rich” doesn’t generate more revenue for the government, at least not the amount most people seem to think it will. One of the reasons why is because the ultra-rich don’t have … Continue reading

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Review: Waiting for Superman

After discovering Waiting for Superman through a few articles on education, I posted the trailer here at OB&B. Shortly thereafter, I was pleased to find Waiting for Superman at a local RedBox and promptly rented it. Having viewed it multiple … Continue reading

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Astronomical Debt

Did you know a light year is 5.86 trillion miles? It’s true: Light travels at 186,000 miles per second (300,000 kilometers per second). Therefore, a light second is 186,000 miles (300,000 kilometers). A light year is the distance that light … Continue reading

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Fixing the Budget: Reform the System

Something I’ve personally discussed for years but is apparently lost amidst the clamoring over the federal budget is a completely neglected aspect of our fiscal mess – the mechanisms of revenue collection and spending. The very means by which the … Continue reading

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Public Sector Compensation Exposed

Yesterday I reported on a study from the Economic Policy Institute, a union supported organization, that claimed public workers in Minnesota were under-compensated in comparison to private sector workers, and I stated I found the methodology flawed. As it turns … Continue reading

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The Truth About Public Employee Compensation Revisited

Yesterday, the Economic Policy Institute, who is supported by labor unions, released a new study designed to show how Minnesota’s public employees are underpaid in comparison to the private sector: To assess whether Minnesota public employees are overpaid, we need … Continue reading

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