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Pipe Dreams, Left and Right

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It amazes me how liberals and conservatives remain so committed to the welfare-state, warfare-state way of life and honestly believe that there is still some magical formula that someone is going to come up with that is finally going to make it work. Or, better yet, that some president with a magic wand, such as Hillary Clinton or Donald Trump, is going to bring long-awaited success to America’s socialist, interventionist, and imperialist experiment. It’s not going to happen. When enough Americans finally come to that realization, that will be the day that we achieve a libertarian society and the peace, prosperity, harmony and economic liberty that comes with it. Look at conservatives and Obamacare. It is absolutely hilarious to see them going through all sorts of machinations on President Obama’s healthcare reform now that they control the presidency and both houses of Congress. What’s the problem? Haven’t conservatives been pounding away at Obamacare for seven years, telling us, over and over again, ...

Economic Ideas: Karl Marx, the Man Behind the Communist Revolution

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When Karl Marx died in March 1883, only about a dozen people attended his funeral at a cemetery in London, England, including family members. Yet, for more than a century after his death – and even until today – there have been few thinkers whose ideas have been as influential on various aspects of modern world history. Indeed, as some have said, no other faith or belief-system has had such a worldwide impact as Marxism, since the birth of Christianity and the rise of Islam. Marx’s critique of capitalism and capitalist society has shaped much of the social thinking in Western countries that led to the welfare state and extensive government intervention into economic affairs. And it served as the ideological banner that inspired the socialist and communist revolutions of the twentieth century – beginning in Russia in 1917, and still retaining political power today in such countries as Cuba, North Korea, Vietnam, and China. In the name of the Marxian ...

Let the States Decide

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The federal minimum wage was instituted by the Fair Labor Standards Act of 1938. The rate was initially set at $0.25 an hour. By 1961, it had quadrupled to $1.00 an hour. The federal minimum has been at $7.25 an hour since 2009 — the result of the Fair Minimum Wage Act of 2007 that raised the federal minimum wage in three steps from $5.15 per hour to $5.85 per hour in 2007, to $6.55 per hour in 2008, and finally to $7.25 per hour on July 24, 2009. However, states are perfectly free to enact a higher minimum wage in accordance with their constitutions. Currently, twenty-nine states and the District of Columbia have minimum wages that are above the federal minimum. Higher state minimum wages range from $7.50 in Maine and New Mexico to $10 an hour in California and Massachusetts. Thanks in part to automatic cost of living–increase provisions, fourteen states began the new year with higher minimum ...

The Assassination of Orlando Letelier and Ronni Moffitt, Part 2

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Part 1 | Part 2 | Part 3 Immediately after the bombing that killed Orlando Letelier and Ronni Moffitt, Michael Moffitt began screaming, “DINA!” “Assassins!” The Washington, D.C., police who had arrived on the scene were mystified. Who the heck is Dina? they wondered. Moffitt was referring to the National Intelligence Directorate, an internal military-intelligence force within ...