It’s September, and election season is under way. Marching to the tune of President Obama’s class-based political rhetoric, some candidates for Congress are campaigning on promises to raise taxes significantly on electorally safe targets. This year’s list of victims includes “the rich,” Wall Street and America’s oil companies. Those three groups are in Washington’s…
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Private saving and investment are the heart and soul of the dynamic market process. Together they provide and allocate the resources used to augment the economy’s productive capacity, generate sustained long-run economic growth, and thereby make possible a rising level of living. Economic crises interrupt this process by discouraging investors and causing them to…
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