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How Loud Does Money Talk? Proposed Time Warner and Comcast Merger Could Show

Posted on April 15, 2014

A study recently released by Frontiers of Freedom suggests that in the Obama administration, money talks. The paper insists that crony capitalism is behind many of the Justice Department’s decisions when it comes to approving or rejecting mergers, and that “friends” of the Administration stand to gain enormous financial “gifts” in return for their generosity. […]

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World’s Largest Life Insurance Policy Taken Out By California Billionaire

Posted on March 18, 2014

An unnamed Silicon Valley billionaire has purchased the world’s most valuable life insurance policy. The San Jose Mercury News reported Saturday that Guinness Book of World Record officials say the $201 million life insurance policy is more than double the previous record. A Southern California financial services company who helped put the deal together declined […]

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Minimum Wage Laws: Litmus Test for Economists

Written by Gary North on February 24, 2014

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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Tariffs Are Sales Taxes for Dummies

Written by Gary North on November 20, 2013

Probably the most successful conceptual error that is promoted by defenders of tariffs is this one: “Tariffs are good for the nation.” Tariffs, being sales taxes, are good for the national government, but they are not good for the nation. At best, they are less bad for the nation than a graduated income tax. But […]

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Upside-Down Economic Reporting: Higher Oil Prices Are Good.

Written by Gary North on September 5, 2013

I am always astounded at what passes for economic analysis in the media. This is a recent example. Bloomberg ran a headline: Widening Trade Deficit Signals Improving U.S. Demand: Economy. I see. A trade deficit. Americans are borrowing more from abroad — foreign lenders — to buy things. What kind of things? We read: “The […]

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Austrian Steel Producer Builds a Plant in Texas

Written by Gary North on July 11, 2013

Why would a huge steel production company build a plant in Texas? First, Texas has no labor unions to speak of. Second, America has cheap natural gas. With energy cheap, the USA has an advantage. To take advantage of this, America needs free trade. So does Austria. Will free traders in America pressure the federal […]

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Will an Export Tax Restore True Free Enterprise?

Written by Gary North on May 27, 2013

Gary North’s Reality Check This is a recent discussion between the Export Tariff Guy and the Free Trade Guy. ETG: What this country needs is an export tariff. FTG: How would it work? ETG: Every exporter would pay a tariff on the retail price of everything it exports. FTG: So, it’s a sales tax on […]

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Mises: “Customers Are in Charge, not Corporations.”

Written by Gary North on May 23, 2013

In his little 1944 masterpiece, Bureaucracy, Ludwig von Mises identified the supreme agent in the free market economy: the consumer. The capitalists, the enterprisers, and the farmers are instrumental in the conduct of economic affairs. They are at the helm and steer the ship. But they are not free to shape its course. They are […]

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