Archive for the ‘capitalism’ Category

John Allison is the President and CEO of the Cato Institute. Prior to joining Cato, Allison was Chairman and CEO of BB&T Corporation, the 10th largest financial services holding company headquartered in the United States. During his tenure as CEO from 1989 to 2008, BB&T grew from $4.5 billion to $152 billion in assets. He was recognized by the Harvard Business Review as one of the top 100 most successful CEOs in the world over the last decade.

Allison has received the Corning Award for Distinguished Leadership, been inducted into the North Carolina Business Hall of Fame, and received the Lifetime Achievement Award from the American Banker. He is a former Distinguished Professor of Practice at Wake Forest University School of Business, and serves on the Board of Visitors at the business schools at Wake Forest, Duke, and UNC-Chapel Hill.

Allison is a Phi Beta Kappa graduate of the University of North Carolina at Chapel Hill. He received his master’s degree in management from Duke University, and is also a graduate of the Stonier Graduate School of Banking.

via John A. Allison discusses Peter Wallison's Book "Bad History, Worse Policy" on C-SPAN 2's Book TV – YouTube.

Prager University: Do High Taxes Raise More Money? – YouTube.

Possibly the best short explanation of the Laffer Curve I’ve seen. Of course there is more to be discussed because this example focuses on the morally reprehensible “progressive” tax system wherein 47% of filers wither pay no income taxes or receive a cash bonus for filing. However, we’ll save that for another time.

Tim Groseclose, in addition to being a faculty member at Prager University, is a professor of political science and economics at UCLA. His article on this subject is here.

The Laffer Curve and New Evidence that Taxes Stifle Economic Output

Here is the link to download the Romer & Romer paper (in pdf) from theĀ UC Berkeley website:

The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks

Douglas Rasmussen is a professor of philosophy at St. John’s University. In this lecture given at an International Society for Individual Liberty conference in 1991, he introduces subjective value to the general concept of human flourishing. He references F.A. Hayek’s article “The Use of Knowledge in Society” to make the argument that a familiarity with and respect for concrete particular knowledge is necessary not only for market economies to emerge but is also important when applied to the human matrix of decision-making for leading a moral and fulfilled life. Basically, each individual and each individual alone has the particularized local knowledge to make the determinations about which proportions of competing value classes will lead to fulfillment in their lives; thus there is no ‘one size fits all’ standard of happiness that can be provided by prescriptive institutions.

Zo brings you footage of a woman who is upset that she has to work in order to pay her bills. Zo reminds this anti-capitalist liberal that there is no such thing as a free car, or house, or health care.

Bill Whittle has his truth. Pacifica Radio’s Amy Goodman has her truth. Everyone has their own truth. This is the mantra of the left today, and if you think about it, it has to be the mantra of the left.

Cal Thomas was at the DC premiere as well. Here is his review.

Twenty-nine years after her death, novelist Ayn Rand is coming to a theater near you. After many failed attempts, her 1957 novel “Atlas Shrugged” has been made into a film.

In an age when overspending, overreaching, higher-taxing and overregulating government increasingly strangles the private sector, robbing us of our liberties and transforming the country into the model of a socialist state, Rand’s story reminds us how far ahead of her time she was and just how dangerous a time we live in now.

At least one member of Congress has recognized Rand’s intuitiveness. Rep. Paul Ryan, the author of the Republican budget proposal, reportedly directed his staff to read “Atlas Shrugged” back in 2010. Ryan, writes Christopher Beam of New York magazine, even credits Rand as “the reason I got involved in public service.”

“Atlas Shrugged” is a novel, but its plot is anything but fiction. In it, successful businesswoman, Dagny Taggart, the head of one of the largest railroad companies in America, struggles to keep her company alive in challenging economic times. Searching for innovative ways to stay afloat, she teams with steel magnate Hank Rearden, the developer of an innovative metal alloy, thought to be the strongest metal in the world. Success seems assured. Then the federal government steps in. The government proclaims the Taggart-Rearden partnership “unfair” to other steel producers and passes a law regulating how many businesses an individual can own. The law is euphemistically titled the “Equalization of Opportunity” bill.

If the language and scenario sound contemporary, they should. President Obama, who plays at cutting spending and wants to raise taxes, is the embodiment of the philosophy about which Ayn Rand warned. Just how smooth Obama is at this was even noticed by the Associated Press, which tends not to think in such cynical terms when it comes to the administration. In a headline about the negotiations that supposedly led to $38 billion in spending cuts, the AP wrote: “Budget Tricks Helped Obama Save Favorite Programs From Cuts.”

“Atlas Shrugged” is about those who would penalize individual achievement and subsidize “the collective.” It is the embodiment of Karl Marx’s philosophy, “From each according to his ability, to each according to his need.” To put it another way, the collective believes that if you earn $2 dollars and I make $1 dollar, you owe me 50 cents to make things “fair.” This is redistributionist or, to paraphrase the president, “spreading the wealth around.”

I’m convinced Barney Frank IS Wesley Mouch.

Millions of Tea Party supporters have rallied over the past two years, many have brought with them signs like those aboveā€”referencing Atlas Shrugged. As you rally on April 15th for your local Tax Day protest, I urge you to go see this important film.

The film is set in a not-so-distant future in which government has taken control of the means of production, bureaucrats have impose harmful regulations on businesses and turmoil in the Middle East has sent oil prices skyrocketing. Sound familiar?

Atlas Is Shrugging, posted with vodpod

Demand Atlas Shrugged to your town: http://www.AtlasShruggedPart1.com/get_involved

In response to the overwhelming reception, and seemingly endless debate, accompanying the unveiling of the Atlas Shrugged Movie trailer, we are proud to share with you this very special clip pulled directly from the film.

The scene shows steel maven, Henry Rearden (Grant Bowler), giving his wife Lillian (Rebecca Wisocky) a gift made from his controversial new metal.

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