The collapse of President Trump’s business advisory councils had little to do with Trump’s policies, or even his presentation. After all the business leaders had joined the councils after he became President, so knew what they were getting into. Traditionally, businesses have been careful to maintain a political neutrality, so their opposition to President Trump […]

Many of Maynard Keynes’ dreams were destructive to civilization. The euthanasia of the rentier, which central bankers worldwide are still trying to achieve, has hopelessly corrupted the capital allocation process and brought productivity growth to a halt. But perhaps his most destructive vision was that of a universally leisured society, in which only a few […]

Ever since Senator Edward Kennedy’s 1965 immigration legislation, both Republican and Democrat efforts to reform immigration policy have been marked by sentimentality and bad faith with American workers. This column pointed this out in January 2004, when President George W. Bush’s proposed reform promised to immiserate further workers who had already gained nothing from the […]

Depending on the method of calculation used, the average Chief Executive Officer makes some 300 times the remuneration of the average worker. That multiple is up from 26 to 1 in 1978. Yet CEO performance has deteriorated, if we measure the economy in terms of productivity and so forth. It is thus clear that most […]