Economics

Center on Wealth, Poverty, and Morality

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Seattle’s Revolt of the Elites

In Seattle, people are losing patience with city leadership over the homelessness crisis, but the frustration is running in both directions: the city’s political, cultural, and academic elites are conducting their own revolt — against the people. Since the release of Eric Johnson’s documentary Seattle Is Dying, which depicts an epidemic of street homelessness, addiction, crime, and disorder, city elites have launched a coordinated Read More ›

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Richard Rahn on the Bill Walton Show

The Bill Walton Show:”Why Socialism Fails to Deliver” with Richard Rahn

“The economy of Venezuela has collapsed as a result of gross socialist mismanagement. Their currency is essentially worthless. To start over, the next government of Venezuela must re-establish the rule of law, protect private property rights and create a new currency.” So writes Richard Rahn, one of America’s most brilliant economists. Read More ›
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President Donald Trump greets British Prime Minister Theresa May upon her arrival, Friday, Jan. 27, 2017, to the West Wing entrance of the White House in Washington, D.C. (Official White House Photo by Shealah Craighead)
Official White House Photo by Shealah Craighead, via Wikipedia.org Commons

How Theresa May Can Get a Better Brexit Deal — and How Trump Can Help

Last week, British prime minister Theresa May failed for a third time to secure a majority in Parliament for her Brexit deal. Now she faces an ever-narrowing set of options. ... Yet, as she must realize, delay by itself offers no hope of a fundamental change in the dynamics of the negotiation and, therefore, no realistic hope of resolving the political crisis now engulfing Britain. Read More ›
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U.S. Trade Deal with China Imperfect, but Both Sides Benefit

The U.S. and China are edging closer to finalizing a trade deal that should end the tariff penalties that are at the heart of a year-old trade war. But a comprehensive deal that includes remedies for China’s theft of intellectual property and forced technology transfer from American companies doing business in China may not be in the cards in closing Read More ›

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A Brewing Rebellion in the Emerald City

For the past five years, like many of its West Coast counterparts, Seattle has endured a steady expansion of homelessness, addiction, mental illness, crime, and street disorder. But the activist class—a political and cultural elite comprising leaders in government, nonprofits, philanthropy, and media—has enforced a strict taboo on declaring the obvious: something is terribly wrong in the Emerald City. Last month, veteran Seattle reporter Eric Johnson of KOMO violated that taboo with a shocking, hour-long documentary called Seattle is Dying, which revealed how the city has allowed a small subset of the homeless population—drug-addicted and mentally-ill criminals—to wreak havoc. Johnson’s portrait is backed up by evidence from King County homelessness data, by city attorney candidate Scott Lindsay’s “prolific offender” report on 100 homeless individuals responsible for more than 3,500 criminal cases, and by my own reporting on the homelessness crisis. Read More ›
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The Bill Walton Show: “Is War with China Inevitable?” with Adm. James Stark and Dr. Stefan Halper

In China, the U.S. confronts an adversary that saw itself as the Middle Kingdom — the center of the universe — for 3,000 years, then endured a century of humiliation and now seeks to return to what it sees as its rightful place in the world. Join Bill Walton as he and veteran Washington foreign policy experts Dr. Stefan Halper and Adm. James Stark discuss China’s Read More ›

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The Bill Walton Show: “Burn the Business Plan” with Carl Schramm

An entire industry – mostly government-funded – has sprung up around the idea of creating entrepreneurs. Don’t buy any of it. Don’t buy college. Don’t buy business incubators. Don’t buy mentors – you probably know more about what it takes to succeed in your business than they do. Start the business. As Carl Schramm and I discussed on “The Bill Read More ›

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Universal Basic Income? Fear of AI Fuels a New Argument for Socialism

With Alexandria Ocasio-Cortez and other Democratic candidates for president floating wilder trial balloons than a psychedelic circus, I’m surprised they have not (yet) picked up on the universal basic income (UBI). The UBI (guaranteed income for employable people who choose not to work) is far and away the favorite “solution” among those strong AI enthusiasts who expect machines to replace human work. They expect vast swaths of the country to be out of work for good. So far, the only candidate plugging UBI is entrepreneur Andrew Yang. Yang is more idea-oriented than his Democratic opponents and he has made UBI central to his presidential campaign in the key state of Iowa. His plan would offer $1,000 a month per person. I suspect it’s only a matter of time before other Democratic candidates pick up on this platform plank, on the assumption that their likely voters will imagine it as free money. Read More ›