Economics

There is a hypocrisy at the heart of the West’s attitude to China: although we’re constantly warned about the threat from Beijing, our political and corporate elites seem intent on making this century a Chinese one. Unlike in the Thirties, this appeasement isn’t driven by fear and ignorance; it is motivated largely by greed.  read more »

As we await U.S. Senate action on President Biden’s Build Back Better plan, it is worth reflecting on what the past few tumultuous months have meant for U.S. workers.  Much has happened in the short time since the summer drew to a close.  Collective and individual actions have worked together to create new leverage for both organized and unorganized workers that didn’t exist six months ago.  Workers are expressing higher levels of discontent than we have seen in years.  read more »

Two of the fossil fuels, coal, and natural gas, are used to generate continuous uninterruptible electricity, but not crude oil, the third fossil fuel, as it is primarily used to manufacture oil derivatives that thousands of products are based upon, and the fuels for various transportation infrastructures.  read more »

If ignorance is bliss, the Western world should be ecstatic. Even as colleges churn out degrees and collect fees, and technology makes information instantly accessible, the basic level of literacy, as measured by such things as reading books and acquainting oneself with the past, is in a precipitous decline. Rather than building a vital world with our technological culture, we are repeating the memes of feudal times, driven by illiteracy, bias and a rejection of the West’s past.  read more »

America has only a limited feudal past, the plantation aristocracy of the antebellum South and the enormous class chasms of the Gilded Age being pretty much our only examples. Yet today—after decades of social mobility, a digital revolution that was supposed to empower individuals everywhere, and the construction of a vigorous anti-discrimination apparatus that putatively ensures equal rights and status—a rigid new social order with feudal elements has come into view.  read more »

The experiences of three too-rare high-growth tech companies in Flyover Country illustrate how the Great Reshuffling of workers amid the pandemic has become a mixed blessing for our region.  read more »

If a man doesn’t have a job or an income, he has neither life nor liberty nor the possibility for the pursuit of happiness. He merely exists.  read more »

Our institutions created centibillionaires and are now trying to contain them.

In Ayn Rand’s novel Atlas Shrugged, a group of high-achieving industrialists have had enough with being exploited (in their view) by “parasitic” collectivists and “second-handers”. They withdraw to a perfect community Galt’s Gulch aka Atlantis where they can live in peace and prosperity with each other, far away from the do-nothing (in their view) populace and according to their own laws and beliefs.  read more »

From the ancient world to modern times, the class of small property owners have constituted the sine qua non of democratic self-government. But today this class is under attack by what Aristotle described as an oligarchia, an unelected power elite that controls the political economy for its own purposes.  read more »

My latest column is now online at Governing. It is a recapitulation of my analysis in my American Affairs piece on Indiana  read more »