It’s seems ever clearer that there is no “Recovery Summer” in store this year for America’s economy. The problems of the last few years haven’t been solved. What will happen next is disputed, between those who see a second recession, those who see growth so weak it will feel like a recession, and those who…
Economy
Economy, Free Markets, Law, Laws/Regulations, Politics
Milk, Wisconsin Dairies, Competition, and Anti-Trust
by JOHN ADAMS •
Jessica Vanegeren of the Capital Times has a thorough story online about the dairy industry in Wisconsin and beyond, entitled, Does Dean Foods Have Unfair Advantage? Hers is thorough description of the Wisconsin dairy scene, emphasizing the influence of Dean Foods. I would only add that our outgoing governor has shown himself susceptible of pressure…
City, Economy, Government Spending
After Ineffective Spending, an Effective Comparative Advantage Solution
by JOHN ADAMS •
There are two recent stories that highlight the challenges facing the national economy, and that implicitly show the impossibility of a national solution to Whitewater, Wisconsin, or any other small town. One has probably read that U.S. Representative Ryan of Wisconsin said that he thought of “the stimulus as a sugar high.” See, Top Republican:…
City, Economy
U.S. Private-sector Job Growth Lags in June – JSOnline
by JOHN ADAMS •
The stark numbers, and then the stark reality: The economic recovery limped ahead last month as the nation’s private-sector employers added an anemic 83,000 jobs – a pace far too slow to replace the 8.5 million jobs obliterated by the recession. June marked the second consecutive month of wheezing private-sector job creation, and long-term unemployment…
City, Economy, Government Spending
Forewarned is Forearmed: Facing the Tough Going Ahead
by JOHN ADAMS •
Dr. James Hussman, of the Hussman Funds wrote recently that he sees a possibility of a second recession in the offing. (I have no connection to the fund.) He writes that “[b]ased on evidence that has always and only been observed during or immediately prior to U.S. recessions, the U.S. economy appears headed into a…
City, Economy, Government Spending
Wall Street Journal: The Keynesian Dead End
by JOHN ADAMS •
There’s an editorial from last week’s Wall Street Journal entitled, The Keynesian Dead End: Spending our way to prosperity is going out of style. (In fairness, many plans implemented as “Keynesian” would probably shock Keynes, himself. To reflect this truth, the WSJ refers to recent policies Neo-Keynesian. Emphasis on the “neo,” I wouldn’t wonder.) The…
Economy, Laws/Regulations
Dairy Prices: The Federal and Wisconsin Governments are Part of the Problem
by JOHN ADAMS •
There was a forum in Madison on Friday, at which dairy farmers gathered to complain about low milk prices. Many of them called for a probe of low prices for milk. See, At Madison Forum, Farmers Call for Federal Probe of Dairy Industry. At the meeting, participants tried to determine how, in the words of…
City, Economy, Government Spending
Associated Press: Economy Faces Tough Road Ahead with Slower Growth – Yahoo! Finance
by JOHN ADAMS •
Status quo efforts to restore prosperity, especially to places like tiny Whitewater, Wisconsin, won’t work. We don’t need more public projects; we need more private opportunities. Whitewater’s municipal government can’t make our lives better, and the road ahead is too uneven to expect conventional solutions to help us. Our way out: dismantling every part of…
Economy, Government Spending
An Economy Worse Than Two Years Ago
by JOHN ADAMS •
Economy, Free Markets, Government Spending
Martin Borgs on Preventing the Next Financial Disaster
by JOHN ADAMS •
Market advocates are optimists. We warn against government intervention and spending because we know that common people — as we are — can do uncommon things when able to associate freely without interference or regulation. We reject the contrived and manipulative schemes of politicians and bureaucrats, ad welcome the dynamism and productivity of private citizens…
Economy
Journal Sentinel: Employment data raises new doubts about state’s recovery – JSOnline
by JOHN ADAMS •
A healthy economy requires thriving private-sector job creation. Wisconsin has anything but — we’re losing private jobs: Wisconsin’s economy continued to struggle in May as the state lost 7,900 private-sector jobs on a seasonally adjusted basis and only managed to offset the declines with a surge of new hires by federal, state and local government…
Economy, Free Markets, Planning
N. Korea Lifts Ban on Private Markets to Prevent Famine
by JOHN ADAMS •
From one of the most oppressive regimes on earth, having brought the people it rules to the brink of death, a belated, desperate effort to save itself through private markets: Bowing to reality, the North Korean government has lifted all restrictions on private markets — a last-resort option for a leadership desperate to prevent its…
Economy, Free Markets
Can Capitalism Save the World from Poverty? Actually, it’s already doing just that…
by JOHN ADAMS •
There’s a new PBS documentary that you may have seen, called “The New Recruits,” about efforts of free-market advocates to bring capitalism to the developing world. It’s not easy, but the documentary shows how a few dedicated market proponents can make a difference even in dire conditions. No economic system has produced greater prosperity for…
City, Economy, Free Markets, Government Spending
Why is America So Successful?
by JOHN ADAMS •
John Stossel asks, “Why is America So Successful?” Stossel concludes, following Friedman, that it’s not natural resources that gave America “a standard of living that’s the envy of most of the world.” Instead, it’s limited government and free market choices that make America prosperous: More than any other American, Friedman, who won the Nobel Prize…