Bring Back the Robber Barons

by Jerry O’Driscoll  That is the title of yesterday’s “Wonderland” column by Daniel Henninger in the Wall Street Journal.    Henninger distinguishes between market entrepreneurs and political entrepreneurs.  Market entrepreneurs innovate and create new products.  Political entrepreneurs make money by gaming the political system. “We need vision, vitality and commercial moxie. The government is draining it … Continue reading Bring Back the Robber Barons

Hope amid Bailout Blues

By Chidem Kurdas   It is hard to find another example in history of so much taxpayer money spent with so little understanding as has been the case with the Treasury’s Troubled Asset Relief Fund—though the new stimulus package may involve even more money and less  understanding, as Mario’s posting on the Macroeconomic Knowledge Problem … Continue reading Hope amid Bailout Blues

Hayek Explains Bush on the Auto Bailout

by Mario Rizzo Today from George Bush’s remarks announcing to use of TARP funds to bailout the auto industry --  until they ask Obama for more later next year:     … [M]y administration worked with Congress on a bill to provide automakers with loans to stave off bankruptcy while they develop plans for viability. This legislation … Continue reading Hayek Explains Bush on the Auto Bailout