Harlow H. Curtice, President of General Motors, was “Time” magazine’s “Man of the Year” in 1955, the first businessman to receive that honor since Walter Chrysler in 1928, and the last until Ted Turner in 1991. Curtice presided over a U.S. economy that provided rapidly increasing living standards every year to the American people. One […]

The repeated and unconvincing assertions by General Motors Chief Executive Officer Robert Wagoner that the company is not going bankrupt have caused observers to bemoan the excessive costs of GM’s pension obligations or the evils of outsourcing, or to welcome the inevitable and welcome decline in U.S. manufacturing in a high-tech future. Would a GM […]

The Federal Reserve Board announced Thursday that from March 23, 2006 the Fed will cease publishing M3 money supply statistics. One thus wonders whether the U.S. political class has finally decided to hide economic failure by means of fraudulent accounting. Each new statistic would report stellar growth, with moderate inflation, increasing living standards and a […]

Successive meetings on oil at the American Enterprise Institute Wednesday and on the world’s monetary system at the Cato Institute Thursday brought the current problems with the world economy sharply into focus. There’s far too much money currently sloshing around the world, and not nearly enough oil. The combination of the two will make for […]