Ron Paul Hates Student Loans, Just Not Enough

Rep. Ron Paul (“The truth about my student loan plan”) is upset that headlines have portrayed his budget plan “as immediately getting rid of student loans.” But it’s unclear from his logic why this would be bad. As the congressman explains, Education Department loans caused the increase in education prices. If the loans were eliminated, … Continued

Death by Regulation

I had the opportunity to hear Competitive Enterprise Institute’s Greg Conko talk about the “precautionary principle” today. The precautionary principle was enshrined by the Rio Declaration on Development and Environment in 1992: “Where there are threats of serious or irreversible damage, lack of full scientific certainty shall not be used as a reason for postponing … Continued

Without a Prayer: Vatican Calls for Deity to Run Global Economy

Reuters is reporting that Vatican, in its infinite wisdom, is calling for a “global authority on the economy” in an official document from the papacy’s creepily named “Justice and Peace Department.” It condemned what it called “the idolatry of the market” as well as a “neo-liberal thinking” that it said looked exclusively at technical solutions to economic … Continued

The A.P. Is Wrong: US Aid Hurts Pakistan’s Poor

Associated Press’s Sebastian Abbot criticized Pakistan’s Punjab province Wednesday for rejecting U.S. foreign aid, writing that “an aid cut would be felt most acutely by the poor.” But it’s not true. As Imran Khan, the head of Pakistan’s Movement for Justice, described to the UK Telegraph last month, “We need reforms but this aid stops … Continued

Charles Darwin the Economist?

Re: “Charles Darwin the Economist,” LA Times: Opinion, October 18 Robert Frank argues that “Darwin’s understanding of competition makes clear there can be no presumption it promotes the common good” since it often “provokes wasteful, mutually offsetting arms races.” Frank confuses the goals of evolutionary competition with those of market competition. Market actors compete to … Continued

‘Minimum Wage’ Really Means ‘Minimum Unemployment’

We’ve been around this track before. Over at the Washington Times, David Bier and Iain Murray explain two ways governments can deliberately cause unemployment: forbid people from working and pay people not to work. On their face, these ideas seem too ridiculous to be policy, but the minimum wage and unemployment benefits do exactly that. … Continued

Infrastructure Banks

Now that the Senate has rejected Obama’s American Jobs Act, it’s worth reflecting on what they passed up. A major proposal was an “infrustructure bank.” Competitive Enterprise Institute’s Wayne Crews has commented on this proposal over at I stopped by our bank Friday to get something notorized, and, damn, they were all out of free … Continued