It’s increasingly likely that an unpopular war and a teetering economy will bring Republican House and Senate losses in 2006, and throw the 2008 Presidential election wide open. Free market economists, frustrated by the George W. Bush administration, should thus be thinking about ideas to pitch to the potential Democrat Presidential contenders of 2008, who […]

By filing for Chapter 11 bankruptcy Wednesday Delta Airlines and Northwest Airlines should finally have made it clear to all that fixed-asset-rich businesses combine with a lax U.S. bankruptcy code to create a uniquely unpleasant money pit for investors, in which long term investor profitability is impossible. Corporate bankruptcy reform is essential for the survival […]

The $62.5 billion voted last week for relief of the sufferers from Hurricane Katrina throws light on an important budget truth. The games Congressional budget-busters have been playing since 1999 and the George W. Bush administration since 2001 are about to come to an unpleasant end. The Federal budget is becoming boxed in by reality.

The Efficient Market Hypothesis, propounded by Eugene Fama in 1965, postulated that stock markets are efficient and rational in discounting all available investment information. Not only has this theory in all but its weakest forms been repeatedly disproved by reality, but in the “funny money” period of the last decade its converse appears to have […]