From the beginning, most commentators agreed that this recession was caused by a failure of the free market. But an important fact that seems to have been forgotten is that America is not a free market.
The government is active in every industry-from health care to
Supporters of President Obama's plans for healthcare "reform" have pledged to boycott the grocery chain Whole Foods. They are in an uproar over an article in the Wall Street Journal written by its CEO, John Mackey.
If you haven't read it yet, you should. In the
What do liberal New York Times' contributors do when the percentage of GDP consumed by ever-increasing government spending grows too large to ignore?
They replace GDP with a new measurement, of course. One which includes such non-quantifiable values as “ecosystem services” and “regulation of our climate on
Corporate America was once criticized for its alleged culture of conformity and tacit support of "glass ceilings" preventing minority advancement. Now, a day hardly goes by in any corporate setting without mention of the importance of "diversity." Nearly all major companies name diversity as among
At a time when many companies are struggling to stay profitable, the world’s largest computer processor manufacturer recorded a net profit of $1 billion in its second quarter. Despite this impressive feat, however, the corporation reported a quarterly loss of $398 million, the first loss
Capitalism is in crisis, claims Richard Posner on the pages of the Wall Street Journal today. This crisis happened, he says, because “a capitalist economy, while immensely dynamic and productive, is not inherently stable.” Furthermore, he suggests that “the banking crash might not have occurred
In the past months, Washington has used its pull over and over to force businessmen to buy into its programs. From cornering banks into accepting TARP money to firing GM’s CEO to insisting that AIG employees return their contractually guaranteed retention bonus—Washington has demanded and
Bank of America CEO Ken Lewis has sparked controversy in his recent testimony to regulators. Lewis has revealed that he was threatened, by then-Treasury Secretary Hank Paulson and Chairman of the Fed Ben Bernanke, to buy Merrill Lynch, a company drowning in financial losses of
In spending its way to economic recovery, the government boldly casts principles aside
Many Americans have experienced the adverse consequences of the recent economic downturn: retirement savings wiped out, jobs lost, or at least a general feeling of financial uncertainty. Our leaders in Washington have reacted
The continuing AIG controversy is a textbook example of blaming the market for the sins of government. Rather than allowing a bankrupt company to get its just desserts, the government stepped in and took it over. Now taxpayers are on the hook for billions of