An ugly financial bubble bursts. A misguided U.S. Congress responds by blaming foreigners and passes a trade bill that prompts widespread retaliation and exacerbates the initial popping of the bubble. That was 1930 and the Great Depression. Fast forward 80 years. An ugly financial bubble has burst and the U.S. …
President Obama said a number of good things in his address yesterday at the United Nation’s Millennium Development Goals (MDGs) Summit in New York. Unfortunately, he has not been following his own good advice. Saying his administration will no longer rely exclusively on metrics of money, food or medicine distributed …
The economic theory of “creative destruction” is important when understanding the value innovation has on long-term economic growth. Popularized by Austrian economist Joseph Schumpeter, the theory says the short and long-term benefits of entrepreneurial activity and competition will far outweigh the short-term losses caused by a new product replacing an …
This week at the U.N. General Assembly President Obama is set to address U.S. efforts to reduce global poverty by reaffirming support for the Millennium Development Goals. After 10 years and trillions of dollars spent, little progress has been achieved. With a ambitious 2015 deadline for the MDG’s completion, the …
The Department of Education (DOE) has proposed new rules for accrediting colleges and universities, including expanding the power of states to authorize higher education institutions, definitions of what constitutes a “credit hour,” and de facto price controls through measures to ensure graduates’ “gainful employment.” According to the Council for Higher …
Before Obamacare was passed six months ago today, former President Bill Clinton promised a leftist horde at the Netroots Nation convention: “The minute the president signs the health care reform bill, approval will go up, because Americans are inherently optimistic.” Fast forward to last Sunday, when, after Meet the Press …
On the ninth anniversary of the Sept. 11, 2001, attacks that killed nearly 3,000 Americans, a new documentary accuses the Obama administration of not facing reality when it comes to terrorism. “America at Risk: The War With No Name,” presented by Citizens United and hosted by Newt and Callista Gingrich, …
Iran’s bombastic President Ahmadinejad once again has strutted to the U.N. General Assembly meetings in New York to denounce, whine about and threaten the United States, the West, Israel and various international institutions. Soon after arriving, Ahmadinejad told the Associated Press that “the future belongs to Iran” and that …
Congress must soon reach a consensus on whether, and on whom, they will raise taxes in 2011. With the economy at the forefront of Americans’ concerns, the effects of raising taxes for any income bracket are a serious matter. Proponents of tax hikes argue that reducing the deficit through increasing …
