Problems in Protecting Intellectual Property Rights

Prague is a glorious city with many beautiful and historic buildings going back nearly a thousand years. It managed to escape almost all bombing during WWII, and thus was able to preserve the best of its past — to the delight of both citizens and tourists. I am here...

Capital Gains Must Be Protected from Inflation

If your employer gives you a 2 percent wage increase, and inflation is 3 percent, has your real income increased or decreased? Assume you bought a horse barn and 40 acres of land for $200,000 in 1988 for a riding school you operated. You have just retired from your...

Most Everything Is Better Than You Think

In 1914, just over a century ago, the average worker had to work about three hours to buy a bushel of wheat. Today it takes five minutes for the average American worker to buy that same bushel of wheat. The real (inflation-adjusted) price of aluminum is now about...

Destructive Information

There is some information that the government should never publish because it is so little understood by the political class and the media. A prime example is the trade deficit number. The trade deficit is of little importance, but as we now see, a focus on that...

Who is Corrupt?

Is the just-fired Andrew McCabe (former number two and, at one point, acting director of the FBI) corrupt? I would argue yes, even though we do not know the full extent of his alleged transgressions. Corruption, according to the Merriam-Webster dictionary, is...