Economics

Center on Wealth & Poverty

Lethal Ignorance

If you really like apple pie, and you could have one-third of a 2 pound pie or half of a 1 pound pie, which would you choose? This grade school math problem is very similar to the problem politicians and economic policymakers face in deciding whether to distribute smaller pieces of a bigger pie, or vice versa. Their decisions tell Read More ›

Venture Capitalists Offer ‘Sliver’ of Opportunities

This article, published by Rocky Mountain News, quotes Discovery Institute Senior Fellow George Gilder: Futurist George Gilder, expected to deliver the keynote speech, could not keep a lid on his enthusiasm in a statement announcing the conference, which gets started in earnest this morning. “Colorado has become Silicon Mountain, snowcapped with software,” he was quoted as saying. The rest of Read More ›

The Next Big Scandal

As you read this commentary, a highly predictable scandal is developing that may embarrass leaders, including President Bush, British Prime Minister Blair, and other heads of government, severely damage the reputations, or worse, of many bureaucrats, and cost taxpayers billions. A summit meeting of the leaders of the “G8” nations (U.S., U.K., France, Germany, Russia, Japan, Italy, and Canada) was Read More ›

Global good news

Humans as a species have just enjoyed their best year yet, 2005, on our little planet. By almost any measure, more people lived better lives last year than ever before. Global lifespans, literacy and real incomes all reached record highs, and more people lived in free or at least partially free countries than at anytime in human history. The state Read More ›

Liberty vs. Democracy

Would you prefer to live in a country that has: The rule of law with an honest civil service, strong protection of private property and minority rights, free trade, free markets, very low taxes, and full freedom of the speech, press and religion, but not a democracy? Democracy and a corrupt court and civil service, many restrictions on economic freedom, Read More ›

How McCain-Feingold Favors ‘Earmarking’

Your Jan. 17 editorial “The Keepers of K Street” ignored the most crucial source of “earmarks” in the congressional process — a campaign finance system that favors the bribery of interest groups over the contributions of citizens. Under McCain-Feingold, a citizen with diverse interests in the future of the nation is permitted to contribute $2,000. A political action committee representing Read More ›

Practical Tax Reform

Would you be willing to give up all of your tax deductions — state and local taxes, mortgage interest, church and charitable contributions, etc. — in exchange for sharply lower tax rates? With the return of Congress, the debate is about to begin again. One major obstacle to tax reform is the confusion in the minds of most Americans (and Read More ›

Not Rocket Science

Suppose you were appointed global economic czar, and your task was to bring the world’s per capita income up to the level of Ireland’s (almost that of the U.S.). Would you: Insist the world’s rich nations transfer substantial wealth though massive foreign aid to the poor nations? Insist all nations adopt policies that would make them as economically free as Read More ›

IMF: The Bad Cop

Helping to cover-up a crime and/or willfully ignoring it is in itself a criminal offense, yet it appears that the International Monetary Fund (IMF) has done just that. Two decisions just handed down by the High Court of Justice in London about one of Africa’s most corrupt and entrenched regimes — The Republic of Congo — raise important and disturbing Read More ›

Eradicating European Flu

Europe has not yet suffered from bird flu, but it suffers from an even more debilitating economic flu — excessive government dependency. That dependency is sapping both its economic vitality and its spirit and has grown most acute in the core of Europe: Germany, France and Italy. We need to help our European friends fight this disease, not through a Read More ›