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Challenge: What Was the Last Year the Government Had a Surplus?

Written by Gary North on April 1, 2017

There are two kinds of U.S. government deficits: on-budget and off-budget. The one that gets all the attention is the on-budget deficit. It’s relatively small. The big one is the off-budget deficit. That is the deficit in Medicare, Medicaid, Social Security, and other government old-age wealth-transfer programs. This deficit is called unfunded liabilities. The present […]

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Leaks Are Good for Liberty

Written by Gary North on March 4, 2017

The White House is leaking like a sieve. Why should conservatives worry about this? The federal government does everything it can to increase the secrecy of its operations. It invades our privacy, but it whines when any of the rest of us invade the privacy of government bureaucrats. I am all in favor of WikiLeaks. […]

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Challenge: Name the #1 Corrupting Government Program

Written by Gary North on November 26, 2016

If I were Lew Rockwell, I would schedule the next Austrian Scholars Conference program in terms of this topic: “What government program should we shut down first?” I would contact all of my heavy hitters who like to stand up in front of an audience and throw hand grenades. I would challenge each of them […]

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Franklin Roosevelt’s Big Bank Bailout: March 6, 1933

Written by Gary North on October 15, 2016

You grew up on this story: “Franklin Roosevelt saved capitalism from itself.” This is one of the major myths of American history. Here is how we should understand the New Deal: Franklin Roosevelt saved the big bankers from their depositors. To understand the truth, you must understand what is never mentioned in the textbooks. Roosevelt […]

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Recessions, Elections, and Republicans: 1945-2016

Written by Gary North on September 17, 2016

The following chart surveys industrial production in the United States. It was produced by the Federal Bank of St. Louis. The gray vertical bars mark recessions Below, I list those recessions that took place in, or shortly before, Presidential election years. As you will see, except for the 1980 Presidential election, recessions since 1945 have […]

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Legitimacy and Self-Government

Written by Gary North on September 17, 2016

I have been writing about legitimacy for decades. I recently republished an article I wrote on this in 1997. Liberty flourishes under this environment: self-government under law. Individuals apply the legal principles to their own situations. The general rule is: “Just say no.” When self-government declines in any government — church, family, or state — […]

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Milton Friedman on Non-Compliance with the State

Written by Gary North on September 17, 2016

In the summer of 1962, I read Milton Friedman’s essay, “Is a Free Society Stable?” It was published in a campus quarterly journal, New Individualist Review. A group of students at the University of Chicago published it. It remains the best campus journal I have ever read. It ceased publication after seven years: April 1961 […]

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Bribery and Judgment

Written by Gary North on July 23, 2016

And thou shalt take no gift: for the gift blindeth the wise, and perverteth the words of the righteous (Ex. 23:8). ┬áThe context of this law is judgment rendered in a court. Judges are not to render false judgment in favor of a poor man (v. 3) or against him (v. 6). People are not […]

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The Declaration of Independence: America’s Greatest Ad

Written by Gary North on July 4, 2016

On this day 240 years ago, New England’s most famous independent wholesaler, John Hancock, and Congress’s stenographer, Charles Thomson, signed a parchment. We celebrate that signing annually, often by setting off low-tariff fireworks imported from China. Most Americans know little about the background of this event. The details they recall from a high school textbook […]

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