Karl Marx has been attracting fawning fascination lately, noted Bloomberg Businessweek’s Peter Coy, “from the likes of New York University economist Nouriel Roubini and George Magnus, the London-based senior economic adviser to UBS Investment Bank.” In fact, Bloomberg Businessweek published “Give Karl Marx a Chance to Save the World Economy” by George Magnus in late August.
Alan Reynolds | All Articles
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Alan Reynolds is a Senior Fellow at the Cato Institute and was formerly Director of Economic Research at the Hudson Institute. He served as Research Director with National Commission on Tax Reform and Economic Growth, an advisor to the National Commission on the Cost of Higher Education, and as a member of the OMB transition team in 1981. His studies have been published by the Organization for Economic Cooperation and Development, the Joint Economic Committee, the Federal Reserve Banks of Atlanta and St. Louis and the Australian Stock Exchange. Author of Income and Wealth (Greenwood Press 2006), he has written for numerous publications since 1971 including The Wall Street Journal, The New York Times, National Review, The New Republic, Fortune and The Harvard Business Review. A former columnist with Forbes and Reason, his weekly column is now nationally syndicated.
In a recent Wall Street Journal column, Princeton economist Alan Blinder wonders why 64 percent of Americans do not believe the $849 billion “fiscal stimulus” bill “saved or created” many jobs. “The main reason,” he explains, “appears to be that the White House's January 2009 forecast was too optimistic—projecting, for example, an unemployment rate around 8% by the end of 2009 if the stimulus passed.” He thinks that’s unfair.
In his recent speech on Wall Street, President Obama tried to delegitimize any criticism of his proposed financial regulations and taxes. He said, “What’s not legitimate is to suggest that somehow the legislation being proposed is going to encourage future taxpayer bailouts, as some have claimed. That makes for a good sound bite, but it’s not factually accurate. It is not true. In fact…a vote for reform is a vote to put a stop to taxpayer-funded bailouts. That’s the truth. End of story.”
I am usually a big fan of George Mason University’s innovative economist Tyler Cowen. But something peculiar seems to come over free-market fans when they start writing for The New York Times. Case in point: Cowen’s “Managed Care: Get Used to It.”
On a recent Fox News debate about health insurance, Democratic political strategist Bob Beckel explained that, “The president needed an enemy, and the insurance companies are it.”