In The New Republic, Raghuram G. Rajan argues that income inequality is the real reason for the financial crash. Income inequality is one of the favorite themes of the left, but Rajan’s argument has some merit to it. He observes: Economists argue over the reasons for the growing inequality—changes in taxation, increasing trade, weaker unions, [...]
I’ve been outside the world of politics for the past year, and what a year it has been! When I started my job, Obama’s approval ratings were still sky-high, and the Tea Party movement was just getting started. Now, we face a political dynamic that’s looking a lot more like 1994 than 2008. What a [...]
Tags: Afghanistan, Democrats, Economics, Iraq, jobs, Obama, Politics, republicans, Site News, tea parties
It is another year, and that means time for another set of predictions. So, without further adieu, here are my predictions for the coming year: Politics President Obama’s popularity will remain mired below 50% throughout most of the year. The Democrats will lose more the 40 seats, putting the GOP in control of the House. [...]
Tags: 2010, Culture, Economics, International Relations, Politics, Predictions, society, technology
Law prof Richard A. Epstein has a withering look at the “Cash for Clunkers” program that gave car buyers a $4500 check to trade in an old car for a new one. As with any government program, the intentions of the program and the reality of the program were not quite at odds with each [...]
Tags: Cash for Clunkers, Congress, Economics, government, policy
Carlos Watson argues that the solution to our fiscal problems is to tax the living daylights out of the “rich” in the hopes of making up for a $5 trillion hole in our national finances. That solution will not work. For one, there aren’t enough “rich” people to make up for the current deficit. We [...]
As the media fixates on the death of Michael Jackson, Congress stands ready to enact the largest and most regressive tax hike in history in the guise of “cap-and-trade.” Jim Lindgren explains why this bill is so dangerous: The cap-and-trade bill, if passed by the Senate and actually implemented over the next few decades, would [...]
Tags: cap and trade, Congress, Democrats, Economics, environmentalism, Obama, taxes
In The New York Times, John Tierney has an excellent column about why getting rich is the best way to improve the environment: As their wealth grows, people consume more energy, but they move to more efficient and cleaner sources — from wood to coal and oil, and then to natural gas and nuclear power, [...]
Tags: earth day, Economics, energy, environment, environmentalism, nuclear