Downside: After the Returns Stop Diminishing (The Daily Reckoning)
“Economists, as we have mentioned, are not able to measure quality, only quantity. They cannot distinguish a ton of steel used in a battleship from the same quantity rolled out and pressed into automobiles. They cannot tell the difference between a man who is growing wheat from one who is distributing propaganda leaflets.
But from an employment point of view, the Nazi war economy was rarely surpassed. Unemployment went down after 1933…and kept going down for the next 12 years. When the end came, Germany not only had zero unemployed workers. It had an unemployment rate that had gone deeply negative, with millions more people holding jobs than there were people in the German workforce.
How did it achieve this amazing result? Not by increasing the number of real jobs. It did it be reducing the labor force, not only in Germany, but throughout Europe.” (Click here to read more)
The Truth Behind the Romney “Gaffe” (Laissez Faire Today)
“Cover the kids’ ears! Hide their eyes! Shuffle the weak and frail from the room! A politician running for president has uttered a heresy that brings into question the holy grail of democratic politics. Romney has failed to pretend as if the country is one big happy family that uses our glorious voting system to discover ever better ways of governing ourselves.
Which is to say that Romney made a gaffe.
You know the definition of a political gaffe: inadvertent and unscripted truth. That’s what the supposed scandal of Romney’s off-the-cuff comments amounts to. He told potential donors an unvarnished truth that everyone knows but which is not part of the official civic creed of the land of the free:
“There are 47% of the people who will vote for the president, no matter what… All right, there are 47% who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. That that’s an entitlement. And the government should give it to them. And they will vote for this president no matter what…These are people who pay no income tax.” (Click here to read more)
Is President Obama’s Depression Coming Our Way? (Cato Institute)
“Barack Obama began his presidency talking about a “New New Deal,” referring of course to his hero Franklin Delano Roosevelt’s policies during the Great Depression. Those policies had the unintended effect of prolonging double-digit unemployment, principally by making it more expensive and difficult for employers to hire people. Whenever something becomes more expensive and difficult, there’s likely to be less of it. In this case, private sector jobs.
Now Obama is presiding over the worst economic recovery since the Great Depression, and if he’s elected for another term, this official “recovery” — with incomes falling faster than during the 2008-2009 recession — could turn into a crushing depression.” (Click here to read more)
Academic Dishonesty (Walter Williams)
“Many of the nation’s colleges and universities have become cesspools of indoctrination, intolerance, academic dishonesty and an “enlightened” form of racism. This is a decades-old trend. In a 1991 speech, Yale President Benno Schmidt warned: “The most serious problems of freedom of expression in our society today exist on our campuses. The assumption seems to be that the purpose of education is to induce correct opinion rather than to search for wisdom and to liberate the mind.”
Unfortunately, parents, taxpayers and donors have little knowledge of the extent of the dishonesty and indoctrination. There are several clues for telling whether there’s academic dishonesty and indoctrination. One is to see whether a college spends millions for diversity and multiculturalism centers and hires directors of diversity and inclusion, managers of diversity recruitment, associate deans for diversity, and vice presidents of diversity. See whether colleges spend money to indoctrinate incoming freshmen with programs such as “The Tunnel of Oppression,” in which, among other things, students call one another vile racial and sexual names in order to develop “oppression awareness.” (Click here to read more)read more