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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 [2]. 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 [3].
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 [4]. 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 [5].