America has two democracies, one political and the other free market. The concept of a political democracy dates back to Plato and his “Republic.” Ludwig von Mises and my mentor Dr. Bill Peterson (a student and colleague of Mises) wrote extensively about our market democracy. Both of these great men are now just a memory […]
Bob Luddy is president of CaptiveAire, Inc. in Raleigh, North Carolina.
The Federal Reserve Bank, also known as “The Fed,” was created in 1913 to regulate the banks and to ensure a stable dollar. The Fed has strayed from its initial charter and is now the primary enabler of federal deficit spending and debt, which is now almost $20 trillion. The Fed’s primary tool is low […]
The Complacent Class: The Self-Defeating Quest for the American Dream Tyler Cowen (St. Martin’s Press, 241 pages, $28.99) Tyler Cowen’s social and economic insights are artfully revealed in The Complacent Class. We often think of America as a nation of risk-takers and innovators, but Cowen provides a sobering, incisive look at why our economy is […]
The Federal Reserve Bank, commonly referred to as “The Fed,” has a policy to inflate the dollar by 2% annually. This is an absurd policy, which undermines our currency. The methods the Fed uses to achieve this policy distort and undermine sustainable economic growth. The Fed was established in 1913 as the Central Bank of […]
America is languishing from historically low growth rates for the past ten years. These low growth rates restrict the growth of middle class income, jobs, and, most importantly, innovation. In the fourth quarter of 2015, our growth rate was less than 1% at .70%. Our government and Wall Street are hyper- focused on the actions […]