Economics

Center on Wealth & Poverty

In Defense of Business

If you are saving money for retirement or to put a child through school, would you be likelier to buy the stock of a company with a reputation for providing a good return to its shareholders or one that prides itself on its “social responsibility”? You may like to do both, but the evidence is companies that change their focus Read More ›

The Idea of the (Feminized) University

Why would any self-respecting boy want to attend one of America’s increasingly feminized universities? Most of these institutions have flounced through the last forty years fashioning a fluffy pink playpen of feminist studies and agitprop “herstory,” taught amid a green goo of eco-motherism and anti-industrial phobia. They routinely showcase such trendy trumperies as The Vagina Monologues, while sacrificing thousands of Read More ›

Economic Literacy Test…and Advice

Before members of Congress leave for the Christmas and New Year’s holidays, they are to take a test in economic literacy: their vote on extending the tax cuts President Bush proposed and Congress voted for in 2003, including the current maximum 15 percent long-term capital gains tax rate. The tax cuts worked very well in revitalizing the economy, which has Read More ›

Out of the Slough of Happiness

Slough (meaning muddy field), England, is not a lovely place. It is east of London, a bit beyond Heathrow Airport — a glum commuter town. The BBC, in a made-for-television social experiment, “Making Slough Happy,” is trying to make Slough a happier place by giving the town group therapy, bizarre as that may seem. I am all for happiness (mine Read More ›

Good Governance

Have you noticed Congress and administrations periodically claim they will save a great deal in some government program by ending “waste, fraud, and abuse,” and then provide a “number” representing the obtainable savings? Yet few ever ask how the waste, fraud, and abuse got there in the first place, and why they are not taken out of every other government Read More ›

Not Your Father’s Republican Party

This article, published by The Claremont Institute, mentions Discovery Institute Senior Fellow George Gilder: Around this time, another revolution was underway, one that would also change how Republicans viewed government. This was supply-side economics — —or “Reaganomics.” Ronald Reagan learned from supply-siders like Arthur Laffer, George Gilder, and Paul Craig Roberts that taxes matter, and that cutting excessive tax rates Read More ›

Bad Advisers

Do you think your tax money should be given to international bureaucrats who give destructive advice to American policymakers? Well, that is what is happening — and worse yet, some unthinking souls in the news media and Congress have treated some of these detrimental recommendations with undeserved deference.  A few examples should suffice. The Organization for Economic Co-operation and Development Read More ›

How to Outdo Greenspan

Do you know why the retiring Federal Reserve chairman is praised so highly? He made fewer mistakes “pricing” the U.S. dollar than some of his recent predecessors. The “price” referred to is the short-term interest rate — the rate the Fed charges banks that borrow from the Fed. If you think for a moment, you might find it odd that Read More ›

Europe vs. Europe

STRASBOURG, France. Is it a sensible idea to move the site of government every three weeks? This is precisely what the European Union does every month, since much of its government moves back and forth — with great wagon trains of trucks carrying government papers (and the luggage of the European parliamentarians) — between this picturesque city in the Rhine Read More ›

Tax Reform Timidity

The president’s tax reform panel’s report is due at the end of this month, but don’t hold your breath if you were looking for the reform that is really needed. Preliminary signs are the panel will recommend relatively modest (but several desirable) changes to the federal tax system. For decades the present income tax system, with its tens of thousands Read More ›