In 1990, the world was a different place. China was still isolated and disconnected, the eastern and western Europe was just coming out from behind the “wall” and Asia was still an unknown place. It cost $20 to make a three-minute call from Western Europe to the U.S., and that was unreliable. The Internet was...
The American dream and a life well-lived are rooted in freedom and free markets. It does not come from the government passing down “free” services. The push to increase the presence of government in our everyday lives is the antithesis of what has made America so successful: A free market society with limited government interference....
Milton Friedman determined the root cause of inflation to be government monetary policy and famously opined, “inflation is always and everywhere a monetary phenomenon that is produced only by a more rapid increase in the quantity of money than output (goods, services, and/or assets).” A 1976 Nobel Prize winner in Economics for his pioneering work...
On 21 June 1984, President Ronald Reagan welcomed Brian Mulroney, then Official Leader of the Opposition in the Canadian Parliament, to the White House. It was the first time the leaders met, and over the course of a 45-minute discussion in the Oval Office, they exchanged ideas on a range of important bilateral issues. Although...
Introduction Milton Friedman argued, “inflation is always and everywhere a monetary phenomenon that is produced only by a more rapid increase in the quantity of money than output (goods, services, and/or assets).” Key March / Early April Data Positive and Negative Signs The Standard and Poor’s 500, Dow Jones Industrial Average and NASDAQ have all...
This memorable opening line from Charles Dickens’s classic work A Tale of Two Cities seemed to be an appropriate place to start this op-ed regarding where our economy has recently been – and could be headed. That’s because the large amount of research I compiled for this article revealed dramatically different signals as to its...
As disturbing are the images of war in Ukraine are, I cannot help but watch President Volodymyr Zelenskyy transition from television actor to war hero. He may be one of the most transformational leaders of our lifetimes. The only other person that has influenced me in such a way was Ronald Reagan, who through diplomacy,...
I was born March 6, 1958, in the city of Detroit, to a Polish-American mother and Irish American father. I was welcomed into a close-knit middle class Catholic household of nine children, of which I was the middle child. We grew up with pride in America, our theology and ancestral roots, and with great respect...
In a free and competitive market, price always allocates scarce resources and directs production. When allowed to function freely, the U.S. oil industry is a shining example of this dynamic. Oil is a driving force in the global economy that most of us take for granted. Petroleum fuels our cars, heats our homes, and is...
The Founding Fathers stated in their Preamble to the United States Constitution they hoped to “secure the Blessings of Liberty” for generations to come (U.S. Const. pmbl.). As Americans, we have been gifted with numerous liberties, nonexistent in other areas of the world. Most Americans take these freedoms for granted to speak at their own...
Introduction and context It is one of humanity’s universal truths that disease will never be wholly eliminated. Microbial organisms and structures, both bacterial and viral, either naturally proliferating or artificially crafted — all posing threats to an individual’s well-being in near-limitless forms. It is upon this basis by which disease has written history on several...
It is generally acknowledged — at least by those with a basic familiarity with economic theory — that markets will usually function well when there is sufficient competition. If one firm tries to profit by charging a price that is far above the cost of production, competing firms will seek to undercut them by charging...
American institutions were designed to secure for all citizens their natural rights to “life, liberty, and the pursuit of happiness.” This gave rise to the world’s most dynamic economy and a well-deserved reputation as the “land of opportunity. At about the time Northwood was founded, President Dwight D. Eisenhower observed, “only our individual faith in...
I was busy around my home when I first heard on the television that Will Smith had slapped Chris Rock across the face. My first thought was it must have been a staged joke or boys just being boys goofing off. Later in the day, when I had time, I watched the video clip of...