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Monetary Central Planning and the State, Part 4: Benjamin Anderson and the False Goal of Price-Level Stabilization

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Monetary Central Planning and the State, Part 1: A Little Bit of Inflation Never Hurt Anyone. Right?

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The Welfare Trap

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Welfare is much on people's minds. Last fall, the Congress passed, and the president signed, legislation that was heralded as a major overhaul of the welfare system. It wasn't, of course. It merely transferred to the states the power to run the welfare system, though the money will still come from Washington. Naturally, with money comes rules. The new federal rules include the requirements that welfare recipients get off the rolls in five years and find a job within two. That may sound like progress. But let's look closer. First, welfare is still federalized to a large extent because the money and the strings emanate from Washington. For reasons to be discussed below, welfare should be abolished. A good beginning would be for the federal government to get out at once. Second, the work requirement will cost the taxpayers lots of money. Contrary to popular impression, welfare reform will not save taxpayer dollars. To help welfare recipients get work, state ...