• 1968 is the wrong analogy for understanding 2020

    1968 is the wrong analogy for understanding 2020

    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 …
  • Poverty in the U.S. Was Plummeting—Until Lyndon Johnson Declared War On It

    Poverty in the U.S. Was Plummeting—Until Lyndon Johnson Declared War On It

    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 …