Peter Ferrara had an excellent article in yesterday’s Wall Street Journal contrasting Reagan’s and Obama’s economic policies. Here are the key points of the article. In his inaugural address, President Barack Obama said, “The question we ask today is not whether our government is too big or too small, but whether it works — whether […]
Is Government Spending the Answer to an Economic Downturn?
Keynesian economics — which dominated economic thought for a decent chunk of last century — said yes. Other schools of economic thought — which I find more plausible — do not think so. Gregory Mankiw had a good, brief discussion in the NY Times last month of how there is ample reason to doubt that […]
The Difference Between Negative Rights and Positive Rights
Here’s a very good explanation by J.P. Moreland, professor of philosophy at Biola University, from his recent interview with Hugh Hewitt: A negative right is a right for me to be protected from harm if I try to get something for myself. A positive right would be my right to have something provided for me. […]
Cato Institute to Obama: "Mr. President, We Disagree"
The Cato Institute has taken out a full page ad in some major publications stating that “we the undersigned do not believe that more government spending is a way to improve economic performance.” From their site: President Obama says that “economists from across the political spectrum agree” on the need for massive government spending to […]
Thomas Sowell on the Stimulus
Thomas Sowell has a very thought-provoking column on the stimulus called “What Are They Buying?” I talked yesterday about how government spending is not the way to stimulate the economy. On top of this, Sowell makes note that “out of $355 billion newly appropriated, the Congressional Budget Office estimates that only $26 billion will be […]
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