Democracy’s Death Spiral

John C. Goodman writes:  On Monday, Puerto Rico missed a payment on $422 million worth of bonds. If the United States doesn’t come to the rescue, this will be only the first of many defaults to come. In all, the island has $72 billion in debt and an additional $46 billion in unfunded pension liabilities — totaling more than the country’s annual GDP. As debt…

 

Why the Minimum Wage Is Bad at Reducing Poverty

Chris Edwards says:   It’s Badly Targeted and Hurts as Much as It Helps California and New York have approved bills to increase their state minimum wages over time to $15 an hour. Presidential candidates Hillary Clinton and Bernie Sanders favor raising the federal minimum wage. But such mandated increases do more harm than good, and they hurt the exact groups of people that policymakers say…

 

The Presidential Campaign 2016 Part II: Back to Basics

Part I: The Election of 2016 The Presidential Campaign 2016 I had hoped that 2016 would be the year when the voting public would be so tired of Washington DC shenanigans that something big might happen. I thought that maybe Liberty would come to the forefront and the country might be guided by Libertarian principles. Nay, it is pretty much business as usual with Donald…

 

The Finnish Model

Mar 19th, 2016 * RECOMMENDED READINGS, Social Issues, Taxes, Welfare, Welfare and Charity Robert May 1 min read

Guy Sorman writes: This year, the Finnish government hopes to begin granting every adult citizen a monthly allowance of €800 (roughly $900). Whether rich or poor, each citizen will be free to use the money as he or she sees fit. The idea is that people are responsible for their actions. If someone decides to spend their €800 on vodka, that is their decision, and…

 

Sorry, Socialists, But Capitalism Is Killing Absolute Poverty

Dec 25th, 2015 * RECOMMENDED READINGS, Social Issues, Welfare and Charity Robert May 1 min read

Terry Jones writes:  To hear the global left these days, you’d think the only thing that matters is income inequality. Socialist candidate Bernie Sanders has even made income inequality a linchpin of his presidential campaign, as has millionaire presidential wannabe Hillary Clinton. “The issue of wealth and income inequality is the great moral issue of our time,” says The Bern , “it is the great economic issue…

 

Student Loan Subsidies Cause Almost All of the Increase in Tuition

Dec 23rd, 2015 * RECOMMENDED READINGS, Education, Government, Regulation, Welfare and Charity Bill B. May 1 min read

Alex Tabarrok says:  The shocking truth about “making college affordable” In a new NBER paper, “Accounting for the Rise in College Tuition,” Grey Gordon and Aaron Hedlund create a sophisticated model of the college market and find that a large fraction of the increase in tuition can be explained by increases in subsidies.