Mark Perry documents evidence of a giant sucking sound – a giant sucking sound of massive amounts of capital flowing into the United States over the past 50 years (and with the pace accelerating twice: first in the mid-1980s and again in the mid-1990s) as investments in private enterprises in America. Yes, yes, yes – all this investment in American companies and in companies launched in America increases America’s trade ‘deficit.’ Can someone articulate a compelling reason why this investment harms Americans or how it signals the decline of our economy’s vigor and productivity – a compelling reason that is consistent with the fact that the world’s stock of capital is not fixed?
Cato’s Jim Dorn understands what will (and will not) reinvigorate Japan’s economy.
George Will laments that it is a sign of left-“liberalism” modern-day statism that government officials increasingly believe that individuals must justify their liberties, rather than government justify its denial of those liberties. And he speaks a foundational truth about government, a truth too-often ignored: “Many people go into it because they enjoy bossing people around.”
Ralph Benko’s overture for a retrospective – and, hopefully, prospective – on supply-side economics.
