Over human history, nothing has expanded opportunity more successfully than economic growth. Indeed, growth is nothing if not a machine to fulfill ever more of the wants and needs of ever more people. But economic growth alone has been insufficient for ensuring equal opportunity to benefit from growth or contribute to it.
Most Americans think of Thanksgiving as a day off from school or work, a time to gather with friends and family and celebrate with a huge feast. If children know anything about the origins of this national holiday, declared each year by presidential proclamation, it's that the Pilgrims, grateful for a bountiful harvest in their new land, set aside this day to give thanks.
UFCW protesters want Walmart employees to get lower-paying union contracts with failing pensions, and pay union dues to benefit distant and highly-paid union bosses. Black Friday shoppers should know: Protesters are representing their union bosses, not Walmart employees.
Ports are critical to U.S. infrastructure and trade, and should be governed in the same manner as the railroad and airline industries. Protections written into the RLA adequately safeguard our nation’s airline and railway networks, and it would be a logical step to extend the Railroad Labor Act to our critical West Coast port network.
Minutes from the October meeting of the Federal Open Market Committee, made public last week, confirm the bullish tone struck by the shorter policy statement released earlier. While individual members see various risks, particularly from overseas, where the European and Asian economies appear to be weakening, as a group they acknowledged the considerable progress that the U.S. has made in recovering from the financial crisis and severe recession of 2007-2009 and the gathering momentum in various measures of aggregate activity that has appeared most recently.
Ezra Klein recently took up the question of whether the Democratic party is out of ideas. I tend to agree with Yuval Levin that both the Left and the Right haven’t modernized their agendas. But there might be a more pressing problem for Democrats: Are they running out of rigorous, clear-headed data analysts, too?
Republicans now have the opportunity and the responsibility to govern in accordance with their longstanding principles of civic decency and egalitarian upward mobility based on merit instead of privilege or government fiat.
Additional legal immigrants will bolster GoBank. If this partial foray into banking works out, Wal-Mart may yet again attempt for a bank charter of its own. And to the dismay of the financial-services industry, it might succeed.
A ton of virtual ink has been spilled over Obama Administration advisor Jonathan Gruber’s admission that he and others intentionally misportrayed the effects of the Affordable Care Act to facilitate its passage. Here I want to explain how Gruber’s characterizations of the “stupidity of the American voter,” as well as subsequent comments by Josh Barro, are incorrect on the substance.