IGEG
Institute for Global Economic Growth
Why do We Still Use Paper Money?
The Washington Times, April 8, 2014
by Richard W. Rahn
Paper currency is dirty and is a major transmitter of disease as it goes from unwashed hand to unwashed hand. It is easily lost and stolen, and can be easily destroyed by getting wet or burned.
How Far an Economy Can Fall?
The Washington Times, April 1, 2014
by Richard W. Rahn
The Greek economy is entering its fifth year of decline. Nominal gross domestic product is about 28 percent lower than it was four years ago. The official unemployment rate is 27.5 percent (as though the decimal point matters, given the poor quality of the data). The unemployment rate for young people is about 60 percent. Nonperforming loans continue to rise. The privatization program continues to fail, in part because of an absence of bidders.
Foxes in the Financial Henhouse
The Washington Times, March 25, 2014
by Richard W. Rahn
To whom would you be willing to trust with all of your financial and tax information: close family members or the U.S. government and foreign governments, including Russia?
How the Greens Help Putin in Crimea Incursion
The Washington Times, March 18, 2014
by Richard W. Rahn
Economic warfare is far preferable to military warfare, but economic warfare requires that those who engage in it are not dependent on the enemy for needed raw materials, energy or markets. Europe is dependent on Russia for all three — and America has so hobbled itself that it cannot bail out Europe. Poor Ukraine, poor Europe, poor America.
The Responsibility to Resist Irresponsible Politicians
The Washington Times, March 11, 2014
by Richard W. Rahn
If voters refuse to discipline their elected officials and continue to buy the "feel-good" line, economic stagnation, inflation or worse will occur. Voters who say they are personally responsible in managing their own finances are not being responsible if they vote for politicians whose policies will ultimately destroy their and everyone else's financial well-being.
Legal and Illegal Political Corruption
The Washington Times, March 4, 2014
by Richard W. Rahn
Most legal corruption is all about increasing power for those in government.
Officialdom's 'Fatal Conceit'
The Washington Times, February 25, 2014
by Richard W. Rahn
Few express opinions different from what they are paid to say, and such is equally true for those who work for government. On an almost daily basis, the world is treated to presidential spokespeople denying what most people understand to be true.
Being Taxed for Bad Advice
The Washington Times, February 18, 2014
by Richard W. Rahn
If you became aware that the advice you were
receiving from your economic advisers was causing you to get poorer rather than
richer, how long would you keep them? Among the general public, the
International Monetary Fund (IMF), the World Bank and their lesser known
younger sibling, the Organization for Economic Cooperation and Development
(OECD), had reputations far exceeding their actual achievements.
Russian Meddling in Ukraine Could Trigger Financial Turmoil
The Washington Times, February 11, 2014
by Richard W. Rahn
Why worry about Ukraine? To many, it seems far away and a country about which they know little.
A World of Economic Trouble
The Washington Times, February 4, 2014
by Richard W. Rahn
There are many signs that the world may be headed for a new economic slump, or worse. Which countries are best positioned to weather such a downturn and which are not? Countries that have been fiscally responsible in the recent past are for the most part in better fiscal shape than those that have not, because they have a larger safety cushion.
Going Global with Tax Devastation
The Washington Times, January 28, 2014
by Richard W. Rahn
The administration and many in Congress seem to have learned nothing from the Obamacare disaster. Now that they have destroyed the world's best health care system, they are in the process of further destroying what was at one time a very functional global financial system.
Lawless and Dangerous
The Washington Times, January 21, 2014
by Richard W. Rahn
Can you imagine how the American Founders would have reacted to a requirement that you had to pay taxes on your rights to peacefully assemble and speak your mind about elected officials or candidates, without first getting the permission of the tax authorities and then paying a tax on those activities?
The Wolves of Washington
The Washington Times, January 14, 2014
by Richard W. Rahn
Are business people more corrupt than those in
government? Hollywood loves to portray those in business as the baddies and
those in government as the good guys.
Fumbling the Crystal Ball
The Washington Times, January 7, 2014
by Richard W. Rahn
If you are forced to make a forecast, give a number and a date, but never in the same sentence.
BOOK REVIEW: 'The Map and the Territory'
The Washington Times, January 6, 2014
by Richard W. Rahn
Mr. Greenspan presents an honest assessment of what economists can and cannot predict, along with many useful insights as to the way that both politicians and investors tend to behave.
The New Year's Resolutions for Others
The Washington Times, December 31, 2013
by Richard W. Rahn
Employees of the IRS should resolve "to do unto others as you would have them do unto you."
Most Things Are Better Now
The Washington Times, December 24, 2013
by Richard W. Rahn
The good news is that most people are living longer with more real income and more security than they did a year ago, a decade ago, or at any time in history. Global personal safety is at a record high.
The Deniers of Economic Reality
The Washington Times, December 17, 2013
by Richard W. Rahn
As every rational person should understand, the current situation is unsustainable, and there is no tax solution to spending as a rising share of GDP. In fact, tax increases will only make the situation worse by further slowing private-sector growth and increasing the demand for government services and payments.
The High Cost of a Free Lunch
The Washington Times, December 10, 2013
by Richard W. Rahn
The real problem is the lack of economic growth, which reduces economic opportunity, particularly for the least skilled. Increasing the minimum wage helps those who actually receive an increase in their wage, but it makes it worse for all of those who lose a job or can’t get one because the minimum wage is far above the market clearing rate.
From Protector to Destroyer
The Washington Times, December 3, 2013
by Richard W. Rahn
Did you ever buy a game or device for which the rule book or instruction manual was so thick and detailed that you were not able to comprehend it in a reasonable period of time, so you either discarded or failed to use the product?
Politicizing the Judiciary
The Washington Times, November 26, 2013
by Richard W. Rahn
Only when the American people demand a restoration of economic liberties — by electing presidents and members of Congress who will rein in government — will judges get the message.
The Failed Fed
The Washington Times, November 19, 2013
by Richard W. Rahn
The Fed was originally established to be a lender of last resort to stop bank runs, a payments' processor to clear checks, and an issuer of a uniform national currency (rather than have individual banks issue bank notes). From this limited beginning, it quickly evolved into a full-fledged central bank. The list of failures is long.
The Misery of the Minimum Wage
The Washington Times, November 12, 2013
by Richard W. Rahn
A minimum wage takes away essential freedoms by preventing some from learning basic job skills and being able to provide for themselves, forcing them to be dependent on the government, or some charity or other person.
Judges with a Rubber Stamp
The Washington Times, November 5, 2013
by Richard W. Rahn
The Founders understood the tendency of both the executive and legislative branches of government to tax, spend and regulate in order to enhance those branches' own power at the expense of the people.
Looking for Lucre in All the Wrong Places
The Washington Times, October 29, 2013
by Richard W. Rahn
The Obama administration has performed the unique trick of alienating the majority of our most important allies, while at the same time causing America to be viewed as a patsy by its enemies.
When Shutdown Orders Overrule the Constitution
The Washington Times, October 22, 2013
by Richard W. Rahn
The reason for the dysfunction in Washington is that the government is trying to do too many things that are not authorized by the Constitution, or that governments are incapable of doing competently at all. The new poster child is Obamacare.
Government Waste Stifling Growth Worldwide
The Washington Times, October 15, 2013
by Richard W. Rahn
In America, and now in most of the rest of world, people naturally assume that they are going to live better than their parents; but until the beginning of the Industrial Revolution less than 250 years ago; this was not true for most of mankind.
Stepping on the Bureaucrat's Cape
The Washington Times, October 8, 2013
by Richard W. Rahn
Should government employees have privileges and legal immunities that the rest of us do not have? The government shutdown battle is, in part, a dispute about the extra subsidies members of Congress and their staffs are slated to get from Obamacare.
Bankrupt Ideas Lead to Bankrupt Governments
The Washington Times, October 1, 2013
by Richard W. Rahn
The private sector — unlike government — constantly reduces costs and improves its products because of competitive pressures, and that creates real wealth. Those in the public sector measure success by the amount spent, not by what is accomplished.
“Countries which have a strong rule of law, protect private property, engage in relatively free trade, have free markets, use a sound currency, and maintain relatively low levels of government spending, taxing, and regulation, will grow much more rapidly than those countries that do not follow these constructive policies.”
- Dr. Richard W. Rahn
Chairman
SEE PUBLICATIONS BY DR. RICHARD W. RAHN
The Economics of Terrorism
THE ANNALS OF ENTROPY AND THE QUEST FOR A NEW GLOBAL EQUILIBRIUM
Unlike natural disasters, which have no human intelligence, rationality or calculation behind them, terrorism is a human phenomenon, planned and executed by human beings. Thus, even though the cost-benefit calculations may be highly negative, the very lack of expensive preventive measures will exponentially increase the likelihood and incidence of terrorist attacks.
Waiting for Constantine
THE ANNALS OF ENTROPY AND THE QUEST FOR A NEW GLOBAL EQUILIBRIUM
by Nornam A. Bailey and Alexander Mirtchev
The U.S. Colossus with Feet of Clay
The Globalist, July 28, 2010
by Norman A. Bailey
If we are an empire, we must behave as such — or suffer terminal decline. If we are not, then we must return to our founding principles — or suffer terminal decline. Those are our choices.
THE CORPORATE STATE
by Norman A. Bailey
The Obama administration has been accused by opponents of moving towards socialism, but the measures taken so far are much closer to the corporate state model.
THREATS IN THE HEMISPHERE
The Washington Times, September 4, 2008
By Norman A. Bailey
It is high time the
ECONOMIC STATECRAFT
By Norman A. Bailey, Ph.D.
In recent decades economic statecraft, that is, the use of economic measures to contribute to the achievement of foreign policy goals, has practically been reduced to the use of trade sanctions and/or financial aid. The economic strategy arsenal, however, holds many weapons beyond these two.
NATIONAL INTEREST
VERSUS NATIONAL SECURITY?
THE CASE OF IRAQ
By Norman A. Bailey, Ph.D.
The national debate over the war in Iraq, which began with the invasion of April, 2003 and is still raging in the form of an active insurrectionary movement, has illustrated once more the prevalent confusion over the concepts of national interest and national security.
AFTER THE END OF HISTORY
By Norman A. Bailey, Ph.D.
As the twenty-first century proceeds on its way, there are only three possible developments: either (a) chaos will continue and deepen, and with it insecurity and disintegration of society, or (b) the United States will become truly imperialistic or alternatively will abandon its exceptionalism and give in to the most recent form of Westphalianism – supra-national bureaucratic rules trumping the organs of democratic governance, or (c) the American vision will eventually triumph, leading to a true new world order, the outlines of which are now visible only in embryonic form.
SECURITY FOR WHOM, BY WHOM AND WITH WHOM?
By Norman A. Bailey, Ph.D.
The discussion of security issues, at least since 9/11/01, has fluctuated among three modalities: strategic/theoretical, tactical/technical and ideological/emotional. Little attention is paid to such fundamental considerations as definitions. In fact, there is no generally-accepted definition of even such a constantly-used concept as “national security”. The most common confusion is that of national security with national interest.
THE BATTLE OF THE YARMUK
by Norman A. Bailey, Ph.D.
On September 11, 2001, one thousand three hundred and sixty-six years later, the latest battle in this never-ending war was fought, and it may be that the number of casualties was about the same as at a dry riverbed in
