Many politicians and pundits believe the recent financial crisis means American banks need more regulation.
George Mason University economics professor Lawrence H. White offers a different perspective. White discussed the causes of the banking and monetary system's ills and offered some ideas for reform during a presentation today to the John Locke Foundation's Shaftesbury Society.
In the video clip below, White discussed the ideal alternative to the current system.
2:55 p.m. update: Click play below to watch the full 54:09 presentation.
You'll find other John Locke Foundation video presentations here.
N.C. Republican Party chairman Tom Fetzer says he doesn't believe Gov. Beverly Perdue will serve a second term.
Fetzer offered that prediction during a 19:05 news briefing this morning, reacting to the news that federal investigators have issued subpoenas in connection with Perdue's campaign. Fetzer says he thinks the investigation will lead either to Perdue's removal or the Democrats' decision to drop her from their ticket in 2012.
Click play below for more on Perdue, campaign ad controversies, and other topics:
In one short letter to the editor he slays the liberal dragon.
Here’s a letter to the New York Times Book Review:
A theme that runs with approval throughout Jonathan
Alter’s review of recent books on modern “liberalism” is that
“liberals,” in contrast to their mindless Cro-Magnon opposites,
overflow with ideas (“The State of Liberalism,” Oct. 24).
Indeed they do. But these ideas are almost exclusively about how
other people should live their lives. These are ideas about how one
group of people (the politically successful) should engineer everyone
else’s contracts, social relations, diets, habits, and even moral
Put differently, modern “liberalism’s” ideas are about replacing an
unimaginably large multitude of diverse and competing ideas – each one
individually chosen, practiced, assessed, and modified in light of what
F.A. Hayek called “the particular circumstances of time and place”
– with a relatively paltry set of ‘Big Ideas’ that are politically
selected, centrally imposed, and enforced not by the natural give,
take, and compromise of the everyday interactions of millions of people
but, rather, by guns wielded by those whose overriding ‘idea’ is among
the most simple-minded and antediluvian notions in history, namely,
that those with the power of the sword are anointed to lord it over the
rest of us.
Jonah Goldberg’s latest contribution to National Review tackles the argument that progressives are losing the “branding” war:
Progressives do have a branding problem. But it stems from the nature of progressivism. What progressivism stands for is having progressives be in charge. Period. Progressivism, stripped of all its pretensions and its many good intentions (and it does have many good intentions), is at its core the dogmatic belief that the familiar band of technocratic, egalitarian statists should be calling the shots.
This is the upshot of liberalism’s much vaunted “empiricism” and hostility to “labels,” “ideology,” etc. When liberals claim they don’t believe in labels, what they are saying is that they don’t want to be locked into a view, an idea, a principle, that will constrain them later.
The latest dead-tree National Review presents the following:
The New York Times recently uncovered another curious fact about tea partiers: They reach to “dusty bookshelves” for “once-obscure texts by dead writers.” The writers, including Friedrich Hayek and Frederic Bastiat, are indeed dead, although it seems a little strange to call a work by the Nobel Prize-winning Hayek “obscure.” By bravely plunging into this kooky book-reading, the Times discovered such “out there” concepts as the “rule of law,” which it explains is “Hayek’s term for the unwritten code that prohibits the government from interfering with the pursuit of ‘personal ends and desires.’” We bet it would be news to Hayek that he had come up with an idea invoked by Aristotle and John Locke, or that he believed that the best way to ensure predictable and fair treatment of citizens by the law was to have an unwritten code. Will the next news-flash be that Keynesian Democrats too read books by the dead? (Or is literacy exclusive to the Tea Party?)