A new study released gives you one more reason to write your Congressman and Senators to tell them to vote No on the poorly-named Employee Free Choice Act (EFCA). Economist Anne Layne-Farrar's quantitative analysis finds that "for every 3 percentage points gained in union membership through card checks and mandatory arbitration, the following year's unemployment rate is predicted to increase by 1 percentage point and job creation is predicted to fall by around 1.5 million jobs." Let's simplify: EFCA (or union card-check legislation, if you prefer) will keep many, many Americans from a productive job and a paycheck - an especially devastating effect in the midst of our current economic turmoil. … [Read more...]
Folly and Hypocrisy of Colorado Media Matters in New Deal Debate Exposed
Over at Free Colorado, Ari Armstrong does excellent work deconstructing the silliness of Colorado Media Matters (CMM) and its well-compensated director in the debate about the New Deal. It seems CMM has placed nearly all its intellectual eggs in one basket, the bottom of which has just fallen out. Armstrong took the initiative to contact directly the one source CMM cites to "debunk" those who note the abundant academic evidence of the New Deal's economic failures. Unfortunately for CMM, this economist (Gene Smiley) refutes their case. But don't expect the Left to stop trying to shill for Barack Obama's new massive federal spending program, no matter how little window dressing they are left with to cover their embarrassingly thin … [Read more...]
Blago and Bailouts Connected in Anger-Inducing Big Government Theme
Economist Steve Horwitz ties the thread between the two mammoth stories running through the blogosphere right now (H/T Brian Doherty, Reason):I can't help but note that yet another politician is indicted on corruption charges at the very same time we are handing over unprecedented power to the political class as we partially nationalize the banking system and, apparently, the Big Three auto companies. I simply do not understand how those who are in favor of giving government all of these new powers because they sincerely believe that doing so will work out the way their blackboard designs intended can keep a straight face. What kind of cognitive dissonance must it take to believe that the people YOU are handing power over to are "not … [Read more...]
Channeling the Late Milton Friedman’s Insights on Current Market Crisis
Wondering what's going on with the current crisis in the financial markets? Friedman Foundation senior fellow Greg Forster channels the late great economist Milton Friedman via an article written by William F. Buckley during the stock market tumble of 1987. It's worth a read. I'd like to believe Friedman's assessments then apply to today's situation. He's been right about so many other things. But Julia Dunraven at Slapstick Politics has a more pessimistic view, with a lot of the numbers to back it up. Then again, maybe they're both right. … [Read more...]