In his recent commentary in the Financial Times, Kenneth Rogoff, a professor of economics at Harvard, made a strong case for the importance of education in heading off future crises in capitalism: Societies need to find ways to make adult education, including economic and financial literacy, far more available and far more compelling. If voters are uninformed and easily swayed towards demagogues peddling short-term ill-considered policies, there is little hope for righting the course of capitalist economies. As someone who has spoken to all kinds of people in the wake …
Free trade agreements (FTAs) have economically benefited nations the world over since their inception. Poverty rates in countries with low trade barriers are significantly lower, and data in The Heritage Foundation’s Index of Economic Freedom demonstrate that free trade also leads to higher incomes, more jobs, and greater equality. That’s why it’s vitally important to quickly enact the three pending U.S. trade agreements with Colombia, Panama, and South Korea. These FTAs have been sitting on the President’s desk since 2007 for no good reason. President Obama has finally made them …
We’ve heard a lot lately about “redistribution of wealth.” What would the American Founders think? Property rights provide the foundation of prosperity. As Americans, we’re accustomed to a revolutionary guarantee that we may labor, earn wages and acquire property — and rest assured that what we earn and acquire will be secure. It’s a simple promise that survives despite the income tax system: Americans get to keep what we earn. The right to enjoy the rewards of your labor is a powerful incentive to work hard and pursue opportunity — …
