Government

Economic Freedom, Democracy and the Quality of Life

Capitalism and democracy are both known to improve the quality of life. But which is more effective in promoting social welfare? Three typical measures of social welfare are health, education and dise…

Is Uncle Sam Bankrupt?

When it comes to nondisclosure, the United States government is the father of all financial malfeasants. Indeed, Uncle Sam has been misrepresenting the nation's finances for decades. In the process, h…

Economic Inequality: Facts, Theory and Significance

The well-documented rise in economic inequality in the United States over the last two decades is somewhat misleading. Almost all Americans, whether considered "rich" or "poor," are better off economi…

How the Fed Creates Money

Signs of an economic slowdown, or recession, have prompted the Federal Reserve to lower interest rates.  The Fed reduces interest rates by increasing the supply of money available to borrow.  This add…

Increasing America’s Domestic Fuel Supply by Building New Oil Refineries

Rising oil and gasoline prices have many causes that are beyond the control of the U.S. government.  However, government policies have contributed to higher prices by reducing domestic refining capaci…

Subsidizing Disaster

Hurricane Katrina has focused attention on the increasing cost of natural disasters. Some federal programs unintentionally contribute to those losses. Federal flood insurance and U.S. Army Corps of En…

Energy Bill: Who Will Keep the Lights On?

Congress responded to the August 2003 northeastern electrical blackout by revising provisions of the comprehensive energy legislation with which it and the Administration had been grappling for two ye…

The Developed World's Demographic Transition

The entire developed world stands at the fore of a phenomenal demographic transition. Over the next 30 years, the number of elderly in the U.S., the EU, and Japan will more than double. At the same ti…