Economists since Adam Smith have taught us that in a competitive economy, the pursuit of private interests leads to the best possible outcome for everybody. But notice the qualifier: for this arrangement to work, there must be competition.
Today the story of American politics is the story of class struggles. It wasn’t supposed to be that way.
Dishonest passivity and dependence combined with harmful activity becomes a pattern of life, and not just among drug addicts.
The activity of entrepreneurship is much older, going back to ancient times. As for America, our nation was founded, quite literally, by entrepreneurs.
Just as ObamaCare was the wrong prescription for health care, Dodd-Frank was based on a faulty diagnosis of the financial crisis.
As seen in the recent government shutdown and the showdown over the debt limit, the federal budget stands at the heart of American politics.
The best case for lower taxes is the moral case—and as Coolidge well understood, a moral tax policy demands tough budgeting.
America is still a young country. But what a 400 years it has been in the economic history of humankind!
What made Americans who we are is a historically unprecedented level of freedom and responsibility.
This evening I propose to take on one of the greatest libels in the English language: the description of economics as “the dismal science.”