Finally, here is an edition of Road to Serfdom that does justice to its monumental status in the history of liberty. It contains a foreword by the editor of the Hayek Collected Works, Bruce Caldwell. Caldwell has added helpful explanatory notes and citation corrections, among other improvements. For this reason, the publisher decided to call this “the definitive edition.” It truly is.
Memo to Conservatives: Quit Apologizing for Capitalism
Everywhere we turn these days, it seems, leftists are undermining and attacking capitalism on moral grounds. Their criticisms are directed not at merely certain corrupt corporations or individuals who abuse the system, but at the system itself.
Sadly, few conservatives, even conservative Christians, are willing or prepared to defend capitalism’s virtues. Rather than tout it in terms of liberty, they sheepishly apologize for its allegedly inherent greed.
Adam Smith(1723-1790)
With “The Wealth of Nations” Adam Smith installed himself as the leading expositor of economic thought. Currents of Adam Smith run through the works published by David Ricardo and Karl Marx in the nineteenth century, and by John Maynard Keynes and Milton Friedman in the twentieth.
Conservative vs. Liberal-An exercise
Most of the debate among liberals and conservatives in the United States is over specific issues, but very little attention is given to the underlying ideals and principles behind these ideologies. We state our case to support or oppose this or that, and we argue with people who disagree, but we almost never bring the argument down to the underlying political attitudes behind our opinions. As such we often misunderstand or mischaracterize each others’ positions, and the result is deep political polarization and a virtual inability to find common ground with one another. I think that a discussion about the fundamental differences between liberalism and conservatism is well worth having.
Crony Car Capitalism
Several recent revelations bring home just what a cesspool of crony capitalism the American auto industry has become. The Obama administration and the UAW (Obama’s major financial and political supporter) are running the show.
Upton flips a switch on CFL bulbs
Three years after he led the charge to require consumers to ditch their comfortable old incandescent lights in favor of those twisty CFL bulbs, Rep. Fred Upton now wants to be the man to help undo that law as the next chairman of the House Energy and Commerce Committee.
That about-face is not unique among lawmakers looking to atone for stances they’ve taken over the past decade as they seek to gain top posts in a decidedly more conservative Republican Congress, but his reversal underscores how intent the GOP is on proving it has broken with past practices.
Austrian MP Ewald Stadler addresses Turkish Ambassador
Recently the Turkish ambassador in Austria Ecvet Tezcan gave an interview in which he told the Austrian home secretary to “stop intervening in the integration process.” He then claimed that Turks were treated like a virus and blamed the Austrians for all the problems surrounding the non-integration of Turks.
Capitalism—Minus the Cronies
The revelation that the American taxpayer is now the World’s Banker of Last Resort, as revealed by the new FinReg bill (yet another assault on real, as opposed to crony capitalism), means Americans must face the disturbing reality that our national sovereignty is being completely undermined. And those undermining it have only one over-riding loyalty: a level of naked self-interest beyond anything the world has ever witnessed.
Flat Tax: An idea whose time has come
There is widespread consensus that the current tax system is a complicated failure that hinders the nation’s growth while allowing the politically well-connected to manipulate the system to get special breaks that are not available to average workers and businesses. This is stimulating a great deal of interest in shifting to a simple and fair flat tax. For instance, President George W. Bush has appointed the President’s Advisory Panel on Tax Reform to recommend options for fundamental tax reform,[1] the Department of the Treasury has produced extensive analysis of the flat tax and other reform options,[2] and lawmakers on Capitol Hill are exploring various ways to reform the tax code.