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Fed Chair Ben Bernanke continues to stand on a stack of Lord Keynes’ General Theory and proclaim that the world needs low interest rates to fill the gap in aggregate demand and bring prosperity to our times. “The reason to keep rates low isn’t to accommodate congressional fiscal policy,” Bernanke responded during a recent congressional …
Sorry, but I dreaded my visit to the Gerald R. Ford Presidential Library and Museum in Grand Rapids, Mich. It had to be done, if only to see what thoughts it would inspire. As it turns out, I’m happy this institution exists. It is a real tribute to a great American who would have been …
Growing up in the Cold War, we tended to look at Russia as a nightmare slave society that was utterly and completely foreign to anything Americans knew or could possibly know absent some kind of invasion. If I were to summarize the propaganda message of the time it would be this: We are free, they …
“The private economy is doing fine.” Those were the words of President Obama that unleashed a torrent of political hysteria. The Romney campaign immediately blasted him for suggesting that things are just hunky-dory, and he was right to do so, given the terrible slog we’ve been through and given that there seems to be no …
Shanghai’s leading code slinger, David Veksler, who is also a good friend and long-time collaborator on all things digital, has come up with something wonderfully subversive. It is an encrypted messaging service that takes a giant step toward making cryptography available to the rest of us. It is called cryptabyte.com. It is the first, easy-to-use, …
Many people these days openly express regret about the digital age. I find their complaints vacuous: They say we are losing the art of human contact, but most of us have never been more in touch with actual humans They say we are losing sight of the highest pursuits, yet the digital age has brought …
My link to my family past is a photograph taken in dusty, desolate West Texas, the one in which my grandmother on my father’s side is seated upfront in a child’s chair. She looks to be about 5 years old, which would date the image as 1920. Behind her are her mother and father, with …
The financial pages and popular culture are often strangely aligned. For example, many young people today are consumed with the seeming emergence of a zombie apocalypse. Evidence seems to be everywhere. I dare not present any of the details. Too gross. Plus, as a grown-up, I’m a skeptic of the whole zombie apocalypse theory. We …
I never tire of looking out the windows of airplanes. For all of human history until just about the day before yesterday, no living person saw the world like this. People could climb up to the top of mountains and see the valleys below. But to see that whole view looking straight down was the …
Economic trends today are a litany of awful: high personal debt, stratospheric government debt, persistent trade deficits, declining living standards, government out of control, cycles of bubbles, zero return on savings, unemployment, and the ever-higher cost of living. Everyone complains about these all the time. They make it hard to live a normal life. They …