U.S. stock prices have just reached record highs, erasing the losses since the previous 2007 peak. But the U.S. economy as measured by the labor-force participation rate, which captures the percentage of working-age people in the labor force, has just dropped to a new 34-year low of 63.3 percent. Since the Great Depression, recessions have always been followed by strong Read More ›
The adjective that economist Friedrich Hayek famously called a “weasel word” is alive and well in the feel-good phrases social business, social justice and the social gospel. In all three of these phrases, the common weasel word sucks some of the essential meaning out of what it modifies by implying that business, justice, and the Christian Gospel are a-social, or even anti-social, until conjoined Read More ›
American stockholders are now recognized as an oppressed group by politicians’ rhetoric of the last few months. Stockholders are those with the faith and vision that keep the economic system afloat, and there is little doubt they are abused both by government and some corporate managers. However, despite the rhetoric, there is little evidence that government officials or corporate managers Read More ›
Originally published in 1982 and hailed as “the guide to capitalism,” the New York Times bestseller Wealth and Poverty by George F. Gilder is one of the most famous economic books of all time and has sold more than one million copies since its first release. In this influential classic, Gilder explains and makes the case for supply-side economics, proves the moral superiority of free-market capitalism, and Read More ›