Lee Kuan Yew, who died last week, led Singapore from an impoverished tropical island when he took over in 1959 to a country with a GDP per capita 50% higher than the United States’ today. Obituaries have been divided into two camps: those praising the economic progress Singapore has made and those decrying the elements […]

When the NASDAQ Composite share index last week touched 5,000, its level at the top of the 2000 tech bubble, sober commentators everywhere including the head of NASDAQ intoned that things were different from 2000 and the market was not in anything like so much of a bubble. They were right. Things are very different […]

There are times when it’s good to be young – the 1960s, with its prosperity and hedonism, were one such. Being old has fewer joys, but you can argue that the 1990s were a halcyon period for the old, when pension funds were swollen by stock appreciation and the senior citizen generation was relatively small. […]

The Indian budget on February 28 slackened the much needed effort to move that country’s fisc towards balance in order to spend more on infrastructure. It was accordingly much praised by the Keynesian media worldwide. While the Lord knows infrastructure is much needed in impoverished India, and its cost there is presumably not as bloated […]

Janet Yellen’s testimony to Congress this week, in which she indicated that inflation needed to be heading above 2% before the Fed made even the smallest shift in its zero interest rate policy, indicated that Maynard Keynes’ favored policy of the euthanasia of the rentier has been all too enthusiastically carried out. The rentier is […]