The Protestant Ethic and the Spirit of Socialism

I was talking to one of my graduate students on Friday about the European economic crisis and the inevitable collapse of socialism. He had an interesting reaction: “Well, of course, a welfare state in Greece, or Italy, or Spain is a really bad idea. But Germany is doing fine. Economists don’t appreciate the importance of culture. There’s nothing intrinsically wrong with the welfare state; it … Continue reading The Protestant Ethic and the Spirit of Socialism

Border Crossings

More confirmation that the problem of terrorists entering the country through Mexico are real: That’s 162 people in one year! And presumably those apprehended are a small percentage of those making it through. And now there’s a terror watch for the Texas-Mexico border. The Department of Homeland Security is alerting Texas authorities to be on the lookout for a suspected member of the Somalia-based Al … Continue reading Border Crossings

The Monetarist’s Nightmare

M3 is plunging at a rate not seen since the Great Depression. The Obama administration shrugs; the Keynesians inhabiting it have never read Friedman and Schwartz’s Monetary History of the United States, and don’t think money supply is interesting enough even to report. They pile on debt at unprecedented rates, and are now contemplating further “stimulus,” since earlier attempts, though dwarfing all previous deficit spending, … Continue reading The Monetarist’s Nightmare

Plug the Damn Hole, Barry: A Strategy for Several Problems Plaguing the Obama Presidency

Taking a brief time out from the workaday quotidien-ness of the crisisblur that is the Obama Presidency, Barry, a.k.a. Whiner-in-Chief, joined Barbara Boxer for a fundraiser in San Francisco, a city that seems to bring out the best, or at least the most honest, of our Dear Leader’s Vaunted Rhetorical Skills: “Let’s face it this has been the toughest year and a half since any … Continue reading Plug the Damn Hole, Barry: A Strategy for Several Problems Plaguing the Obama Presidency

Aristotle’s Impossibility Result

Walter Russell Mead lists ten lessons from the economic crisis: 1.  The American Century isn’t over. 2.  Liberal capitalism works. 3.  The rogue states are parasites. 4.  The old left is dead. 5.  Nobody really understands the world economy. 6.  That goes double for financial markets. 7.  The Battle of Financial Markets is over; the Battle of State Finance has begun. 8. The demographic crunch … Continue reading Aristotle’s Impossibility Result

Texas Social Studies Standards

Congratulations to the Texas State Board of Education, which has withstood a ferocious assault from the Left and passed new social studies curriculum guidelines. The new guidelines are a significant improvement over what were already excellent guidelines: They give students similar academic experiences in lower grades that create a common basis for further coursework but give high school teachers and students more flexibility. Most of the … Continue reading Texas Social Studies Standards