December 30, 2009 |
CORRECTION: This column misidentified the Jim Manzi who authored the lead article in the winter edition of the magazine National Affairs. It was Jim Manzi, the executive chairman of Applied Predictive Technologies in Arlington, Va., not Jim Manzi, the former chief executive of Lotus Development Corp. and chairman of ThermoFisher. If you step back and look at the big economic policy issues-- health care, financial regulation, immigration, education reform, the budget deficit -- they appear to boil down to one...
January 17, 2013 |
Just before noon Jan. 14, Mitch Daniels ceased to be governor of Indiana. By 2 p.m. he was in West Lafayette conducting a meeting as the soon-to-be president of Purdue University . A true Hoosier calls that a promotion. But his elevated new stage is a smaller one. And as national Republicans contemplate the second half of the Obama era, they wonder what might have been. Daniels pronounces himself "at peace" with his decision not to run for president — the sort of thing a man says after many restless nights.
September 4, 2012 |
Some years, they speak of "the final eradication in America of the age-old evil of poverty," and then other years, the Democratic Party shifts its focus to "those who work hard, pay their bills, play by the rules . . . " In 1972 , the party promises "a guaranteed job for all," offering to "make the government the employer of last resort. " But 20 years later , the Democrats pivot and nearly apologize for themselves, appealing to "Americans who may have thought the Democratic...
May 26, 2012 |
Beneath all the folderol about job creation and destruction at Bain Capital or President Obama's alleged war against success and free enterprise, there's actually a legitimate debate to be had about what kind of capitalism we want in the United States. It turns out that capitalism, like ice cream, comes in many flavors. These different capitalisms can be combined, in the same way chocolate and coffee produce mocha. There are also all sorts of mix-ins and swirls that add to the variety.
February 27, 2013 |
RICHMOND A display case in the lobby of the Federal Reserve Bank here might express humility. The case holds a 99.9 percent pure gold bar weighing 401.75 troy ounces. Minted in 1952, when the price of gold was $35 an ounce, the bar was worth about $14,000. In 1978, when this bank acquired the bar, the average price of gold was $193.40 an ounce and the bar was worth about $78,000. Today, with gold selling for around $1,600 an ounce, it is worth about $642,800. If the Federal Reserve's primary mission is to...
December 5, 2012 |
Even Jonathan Swift, who said that promises and pie crusts are made to be broken, might have marveled at the limited shelf life of Barack Obama's promise of a "balanced" deficit-reduction plan — substantial spending cuts to accompany revenue increases. Obama made short shrift of that promise when he demanded $1.6 trillion in immediate tax increases and mostly unspecified domestic cuts. He also promised to cut $800 billion from 10 years of war spending that will end in two years, which is like "cutting" $800 billion by deciding not to...