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A Liberal’s Despair: Obama the Deficit Cutter

Written by Gary North on July 5, 2014

federal-deficit

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

Pentagon

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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Minimum Wage Laws: Litmus Test for Economists

Written by Gary North on February 24, 2014

Minimum-Wage-Laws

I have learned over the last half-century that there are two litmus tests of an economist’s commitment to the idea of voluntary exchange as a means of increasing net productivity and net income. One of them is the doctrine of free trade. The other is the doctrine of minimum-wage legislation as a source of increased […]

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Half of Our Economists Distrust the Free Market

Written by Gary North on February 11, 2014

Bernanke

Mark Perry is a free market economist. He has a blog on the site of the American Enterprise Institute. Recently, he cited a pair of editorials in the New York Times. They were on minimum wage laws. One was published in 1987. It called for a minimum wage law of 0. The other is recent. […]

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Multi-billionaire Laments: “Our Taxes Are Too Low!”

Written by Gary North on November 4, 2013

Bill Gross is a very rich man. He manages Pimco, the world’s largest bond fund. As is true of most American multi-billionaires, he is a Keynesian. He believes in the economically creative power of the state. He has understood how the state affects the markets through raw power, and he has profited enormously. In November, […]

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Cooked Books for 150 Days: $16,699,396,000,000

Written by Gary North on October 17, 2013

The Republicans capitulated this week. This comes as no surprise. Resisting the increase in the debt ceiling was a charade. The debt ceiling was breached in the week of May 17, but that was officially ignored by all. Treasury Secretary Lew set the rules, and Congress played his game. The House for 150 days accepted […]

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