News

Recent posts and articles from IGEG fellows, advisers, experts and scholars.

No Way Out

Sensible people make sure they understand the exit strategy when making an investment. Too often, people lock themselves into investments, like timeshares, vehicle loans, real estate purchases, etc. for far longer than they wish they had. The same is also true for...

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Europe Slides into the Poor House

Athens: Europe’s most significant contribution to the world economy at the moment is serving as a bad example. Much of Western culture and law can trace its origin back to this city of 2,500 years ago. The ancient Athenians learned that democracy is fragile and can...

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The Return of Slavery

There are some plagues that mankind seems to be incapable of fully destroying. One of these plagues is slavery, which has existed since man moved from being a hunter-gatherer to agriculture. Slavery is the condition where an individual is deprived of much of the...

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‘Forever Fed,’ but Why?

Everyone has heard of the Federal Reserve Bank or “The Fed” and that it has something to do with the value of our money — and so it must be very important. But few even claim to really understand what the Fed does and how it does it. This past week, The Economist...

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What is not Known about the Economy

How much will the stock market rise this year? As an economist, I frequently get variations of that question. If I am honest and say “I have no idea,” the questioner most often walks away with a disappointed look. If I say something like “10.4 percent,” the questioner...

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From a Whimper to Success

Three decades ago, the socialist/communist economies of Eastern Europe died, not with a bang as many had feared, but with a whimper. It was obvious that the economies of those countries were falling further and further behind their Western Europe counterparts — and...

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The Real Problem of This Federal Republic

It appears that a number of the new presidential candidates are not aware of the fact that the United States of America is a constitutional federal republic, and not a parliamentary democracy. Recent calls by some to abolish the Electoral College and drop the voting...

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Connecting the Dots of Corruption

You may have noticed that there have been a number of people in the top ranks of the FBI and Justice Department — like Robert Mueller, James Comey and Andrew McCabe — who have had powerful jobs regardless of whether the administration is Democratic (Clinton/Obama) or...

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Starting Over in Venezuela

The economy of Venezuela has collapsed as a result of gross socialist mismanagement. The currency is essentially worthless. To start over, the next government of Venezuela must re-establish the rule of law, protect private property rights and create a new currency....

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Government Debt, a Real Crisis

“Mankind is doomed!” Headline writers have been writing that headline since the invention of printing — and someday it will come about. For about four decades, that headline has most often been applied to the threat of global warming. Every couple of years, some...

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Destroying Success with Socialism

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…” Charles Dickens wrote those words referring to the era of the French Revolution a little over two centuries ago, but they could equally apply to today....

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