In his article in the Summer 2011 issue of The Independent Review, “The Dilemma of Bailouts,” economist Roy C. Smith (New York University) examines why despite its prohibition of taxpayer-funded bailouts, the Dodd-Frank Act has left the financial system exposed to meltdowns and promotes the shifting of risk from large �systemically important� financial firms…
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In a characteristically informed and appropriately scathing attack on the welfare state, Walter Williams asserts a cautiously optimistic view of the recent trend in political discourse as it has become more popular to call for limits on the arbitrary powers of the state. “For the first time in my lifetime�and I’m approaching 75 years…
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In a stunning decision released today, U.S. District Judge Henry E. Hudson in Richmond, Virginia, has ruled that Obama’s health-care law passed earlier this year is unconstitutional. The Obama administration now plans to appeal the case to the U. S. Supreme Court, and here is a report from Bloomberg: The Obama administration�s requirement that…
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Are there any limits to the federal government�s power to regulate commerce? U.S. District Judge Henry Hudson has promised a decision on this issue before the end of this year. Judge Hudson is presiding over the Commonwealth of Virginia�s challenge to the Patient Protection and Affordable Care Act (better known as Obamacare), which forces…
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In a recent commentary titled �Diagnostics and Therapeutics in Political Economy,� I endeavored to show that an analytical understanding of past growth in the government’s size, scope, and power does not permit us to prescribe effective means of stopping or slowing this growth, particularly any simple silver bullet remedy, and I specifically disclaimed any…
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