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    All Megan, All the Time

    The Atlantic’s Megan McArdle has been tackling the proposed auto bailout like a champ. Here are just some of her contributions from the past week: On why Congress can’t fix Detroit: Indeed, a bailout will mute the one thing that sometimes does turn around dysfunctional management: the shock value of … More

    The Auto Bailout & The Bankruptcy Myth

    When I think of bankruptcy I think of this. That’s right, the Monopoly Guy. Pockets empty. Shoulders shrugged. Game over. All the jobs will be wiped off the face of this earth and bulldozers will tear down the buildings. I’m guessing a lot of people think this way when they … More

    Lies, Damned Lies, and…the Undeniable Truth

    Most people are skeptical about statistics, claiming that mathematically-minded people just bend numbers to their will. But when it comes to long term budget projections, economists from the left, right, and center all agree we on an unsustainable course, and that the entitlements—Social Security, Medicare, and Medicaid—are the main driver … More

    The Next Bridge to Nowhere

    In the video below, Sen. Carl Levin (D-MI) describes the inevitable bailout of the auto industry as “a bridge to the future.” [youtube]http://www.youtube.com/watch?v=3w8jEKoX5-Q[/youtube] A “bridge to nowhere” is more like it. As David Brooks notes today: Not so long ago, corporate giants with names like PanAm, ITT and Montgomery Ward … More

    Czars We Can Believe In

    The communists that dethroned Czar Nicholas II were the first to implement “central planning” but President-elect Barack Obama is doing his best to match both the czar’s and the communist’s commitment to autocratic style. Just this week alone there have been reports of an auto czar, an energy czar, and … More

    Conservatives Could Hold the Stop Sign on Auto Bailout

    From the front page of the NY Times: The prospects of a government rescue for the foundering American automakers dwindled Thursday as Democratic Congressional leaders conceded that they would face potentially insurmountable Republican opposition during a lame-duck session next week. “ The 60 votes necessary to pass the bill in … More

    Theft Done Right

    George Mason’s Don Boudreaux has a snappy response to Center for American Progress suggestions that If It Happens, The Auto Industry Bailout Needs To Be Done Right: While it’s true that some ways of bailing out this industry would be less harmful than other ways, there is absolutely no “right” … More

    Government Bailouts Fail Again

    The Corner‘s Iain Murray flags a valuable new study out of the University of Chicago on Treasury Secretary Hank Paulson’s bank recapitalization plan: We calculate the costs and benefits of the largest ever U.S. Government intervention in the financial system. We estimate that the revised Paulson plan increased the value … More

    An Economist's Memo to Obama

    Harvard economist Greg Mankiw’s letter to President-elect Barack Obama offers some great suggestions for the next four years: Congratulations, Senator Obama. You ran a good campaign, and you racked up an historic victory. As you get ready for your new responsibilities, let me suggest four ways for you to become … More

    Progressive Corporatism Is Here

    There was no bigger media cheerleader for Barack Obama over the past year than MSDNC. Hardball host Chris Matthews famously admitted that Obama sent “a thrill going up my leg” and Keith Olbermann’s over the top boosterism was even recently parodied by Saturday Night Live. MSDNC could have tried to … More