Daily Archives: July 29, 2011

The Danger of a Balanced-Budget Amendment

Mark Wilson It seems to make sense: families have to live within their means. State and local governments have to live within their means. Why not the U.S. government, too? But as John Kenneth Galbraith pointed out in The Affluent Society, “conventional wisdom” — premises that everyone generally holds as true — are usually unexamined and…

All aboard the democracy train

Yevgeny Shrago  While markets anxiously watched America’s debt ceiling debate and Europe announced another round of bailouts for Greece in the hopes of saving Greece’s increasingly rickety monetary union, the big news out of China carried a more tragic cast: 32 people died and another 200 people were hurt when one of China’s new high speed trains rear-ended another train that…

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