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How 1936 Consolidated the Progressives’ Triumph in 1913

Written by Gary North on October 25, 2014

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Politically conservative Americans and libertarians generally agree on the worst year of the 20th century: 1913. In 1913, three major events took place. First, Americans were informed that a constitutional amendment establishing an income tax passed. That was a lie. It did not pass. But the Attorney General of the United States announced that it […]

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Walter Williams Skewers Paul Krugman: Minimum Wage Laws

Posted on October 21, 2014

walter-williams

So as to give some perspective, I’m going to ask readers for their guesses about human behavior before explaining my embarrassment by some of my fellow economists. Suppose the prices of ladies jewelry rose by 100 percent. What would you predict would happen to sales? What about a 25 or 50 percent price increase? I’m […]

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“Full Faith and Credit” and Related Delusions of Grandeur

Written by Gary North on October 8, 2014

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Approximately half of all Americans receive government subsidies of one kind or another. This is seen by some conservatives as the demise of the American Republic, the death-knell of resistance to the welfare state. It is nothing of the sort. It is strong evidence of the opposite: the high-water mark of the American welfare state. […]

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Keynes, Lenin, and Hyperinflation

Written by Gary North on September 25, 2014

keynes

In 1919, John Maynard Keynes became an international figure of considerable influence because of his book, The Economic Consequences of the Peace. It was a critique of the Versailles Treaty’s imposition of reparations payments on Germany in the aftermath of World War I. In that book, Keynes made the following observations. Lenin is said to […]

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A Liberal’s Despair: Obama the Deficit Cutter

Written by Gary North on July 5, 2014

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At first, I thought this article was a parody. Then I realized the author is serious. The title: Obama’s greatest failure: The rapidly falling deficit. The author writes: Ever since 2009, when the recession and the stimulus package pushed the annual budget deficit to a peak of nearly $1.5 trillion, it has been falling steadily. […]

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Professor Tyler Cowen Wants the Pentagon to Break a Few Windows. Do You?

Written by Gary North on June 17, 2014

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I begin with a statement. Would you say it sounds Keynesian? The continuing slowness of economic growth in high-income economies has prompted soul-searching among economists. They have looked to weak demand, rising inequality, Chinese competition, over-regulation, inadequate infrastructure and an exhaustion of new technological ideas as possible culprits.An additional explanation of slow growth is now […]

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