Social unrest helped doom Lyndon Johnson’s presidency. It may end up saving Trump’s. The American death toll is rising. An unpopular president fears for his re-election chances. The U.S. sends men into space. Down on Earth, the economy is in trouble. Racial tensions boil over into rallies, looting and violent confrontations with police in cities …
Yet again, government intervention hurts those it is intended to help. ne of the more elementary observations about economics is that a nation’s prosperity is determined in part by the quantity and quality of labor and capital. These “factors of production” are combined to generate national income. I frequently grouse that punitive tax policies discourage capital. There’s less …