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Haiti -- a year before the earthquake

Haiti -- a year before the earthquake

 

The decision makers in Haiti would benefit tremendously from familiarizing themselves with the economic “blueprint” of Hong Kong. The devastation and loss of life caused by the recent earthquake has cast the international spotlight on Haiti, regarded as the “poorest country in the Western Hemisphere.”

Underneath the debris of Haiti’s collapsed infrastructure is an island nation which has struggled mightily to have a legitimate economic presence within the world community since becoming the first independent Black republic in 1804.

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Categories : Economics
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Shoppers take advantage of bargains on Black Friday

Shoppers take advantage of bargains on Black Friday

Now that Black Friday has come and gone, I wonder whether this novel concept has prompted politicians on Capitol Hill, on the precipice of deciding costly health care reform legislation, to take notice of free market principles in action, and re-think the proposed interventionism imbued within this legislative overhaul of the health insurance industry.

Black Friday in the United States is the Friday after Thanksgiving which marks the beginning of the Christmas shopping season, and for retailers large and small, signifies crossing the threshold of profitability for the year.

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Categories : Economics, Politics
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I recently came across this short video clip from the Republican presidential primary debate, which took place at the University of New Hampshire on September 5, 2007. In the debate, 2008 presidential candidate Congressman Ron Paul explains to a panel of Republican candidates, as well as the national audience, why gas prices had more than doubled at that time.

This video reminds me of why I became such a big admirer of Dr. Paul (formerly a practicing physician, whose adherence to limited government and sound money principles has caused many in the media to give him the moniker “Doctor No”) and frankly, why I quickly came to identify as a Libertarian.

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ron-paulIn a ten minute segment on CNN’s Larry King Live, Congressman Ron Paul (R-TX) was given the program’s nationally televised audience as a platform in order to respond to the allegation that capitalism has failed in America, made by renowned documentary film maker Michael Moore through his latest film, Capitalism: A Love Story.

Congressman Paul, well known as a staunch advocate of free market principles, states rather simply in the interview that capitalism has not failed the American people, as Moore’s movie contends.  Naming instead ”corporatism” as the source of our current economic turmoil, which has resulted in record levels of unemployment since the fall of 2008.

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Categories : Economics
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I first heard the term “Keynesian” used in describing the economic policies of our government by a panelist on a segment of NBC’s Meet the Press, and after doing some research, I fully agree with this characterization.  As well as former President Richard Nixon’s proclamation that, “We are all Keynesians now.”  But what does that mean exactly?

To understand this term, and the often criticized propensity of the federal government to increase spending during economic downturns, even when running a deficit (referred to as “deficit spending”), a firm grasp of the economic philosophy espoused by John Maynard Keynes from the early 20th century is extremely beneficial.

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Categories : Economics, Politics
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AP - Lawrence O'donnell, frequent contributer on MSNBC

AP - Lawrence O'donnell, frequent contributer on MSNBC

 

The August 7, 2009 episode of MSNBC’s the ED show, in which Lawrence O’Donnell guest hosts and interviews Euro Pacific Capital CEO and free market economist Peter Schiff, is as shameless a display of a program host perpetually interrupting a guest as I have seen since…Chris Matthews interviewing ANYONE who disagrees with increased government involvement in the health insurance industry.

 

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