“The economy of Venezuela has collapsed as a result of gross socialist mismanagement. Their currency is essentially worthless. To start over, the next government of Venezuela must re-establish the rule of law, protect private property rights and create a new currency.” So writes Richard Rahn, one of America’s most brilliant economists.
I believe that growth can benefit all Americans, yet while our GDP has tripled in size from 1975 to 2015, average wages have barely risen. The response from both political parties has been to double down on policies that have failed to address this reality Maybe they’re missing something crucial in their economic calculations. A focus on work. Author and scholar Oren Cass explains on my new podcast. www.cgtv.us
People look to the government to prevent future financial crises and too many trust that politicians and economic experts can create policies to protect us and our 401(k) plans. We shouldn’t rely on them. These experts are smart, mostly well-intentioned people but they can’t prevent the next crisis. No one can. Why is that? And why is a future crisis inevitable? I discuss these and many other questions with “Finance and Philosophy” author Alex Pollock.
“Any rational observer of the Democrats’ non-stop character assassination machine can see that something is seriously sick in our republic. Instead of allowing Supreme Court confirmation hearings for Judge Brett Kavanaugh, Democrats on the Senate Judiciary Committee were permitted to use trumped-up, hip-pocketed charges to stage a show trial more in tune with a totalitarian system.” Stella Morabito – The Federalist
Lower taxes and less regulation are great for business, but some are thriving in high-tax states like New York and California. On my new podcast, Ralph Benko explains the “Tamny Axiom”. Hint: there’s something more valuable in those states than low taxes.
Why do 53 percent of millennials prefer socialism to capitalism? Probably because they don’t know what socialism is and neither does Bernie Sanders and others who embrace it. But how bad can it get? Democrats might be moving further to the left but it’s absurd to compare them to Marxists, right? My podcast guest, Ralph Benko, says you might be surprised at how similar their beliefs really are.
The next time you feel the urge to join a major protest to condemn the elite, powerful forces who are supposedly making your lives worse, don’t bother. The event is most likely organized by elite, powerful forces who are getting rich off your activism while you don’t make a dime or a dime’s worth of difference.
“The Case Against Education: Why the Education System Is a Waste of Time and Money” with Bryan Caplan
It’s long seemed obvious that if we want to truly fix education, actually make it work for the 21st century, we need to kill a stockyard full of our sacred cows. And we had just the man for the job on The Bill Walton Show this week. Bryan Caplan, a professor of economics at George Mason University and author of “The Case Against Education: Why the Education System is Waste of Time and Money,” described the findings in his book and provided some stark recommendations based on them. First, he said, we need to understand what we’re doing in school. There is the romantic version, he said – you go, learn skills employers are interested in, then get jobs with those employers performing those skills. More likely is what he calls the “signaling school of education.” You mostly go to school to get certification, “a bunch of seals of approval saying, ‘Grade A worker’ or ‘Grade B worker.’” But, regardless of the grade, you need a seal.
Famed economist Milton Friedman called America’s highway system a “socialist enterprise” and he was right. America’s roads are in desperate need of repair and the federal government is clearly incapable of maintaining them efficiently. Drivers pay tens of billions of dollars in gasoline taxes every year and our infrastructure problems only seem to get worse.
Did you know when you text someone that you’ve landed at the airport, you’re using far more advanced technology than your plane’s air traffic controller?