• How Big Government Made the Depression Worse, and Would Do Similar Damage Today

    How Big Government Made the Depression Worse, and Would Do Similar Damage Today

    We are a nation of 325 million people. We have a bit of control over the behavior of our 535 elected representatives in Congress, the president, and the vice president.

    But there are seven unelected people who have life-and-death control over our economy and hence our lives—the seven governors of the Federal Reserve Board.

    The Federal Reserve Board controls our money supply. Its governors are appointed by the president and confirmed by the Senate and serve 14-year staggered terms.

    They have the power to cripple an economy, as they did during the late 1920s and early 1930s. Their inept monetary policy threw the economy into the Great Depression, during which real output in the United States fell nearly 30 percent and the unemployment rate soared as high as nearly 25 percent. READ MORE...

  • Colleges Care About Diversity, Except When They Don't

    Colleges Care About Diversity, Except When They Don’t

    A common feature of our time is the extent to which many in our nation have become preoccupied with diversity. But true diversity obsession, almost a mania, is found at our institutions of higher learning.

    Rather than have a knee-jerk response for or against diversity, I think we should ask just what is diversity and whether it’s a good thing. How do we tell whether a college, a department, or another unit within a college is diverse or not? What exemptions from diversity are permitted?

    Seeing as college presidents and provosts are the main diversity pushers, we might start with their vision of diversity. Ask your average college president or provost whether he even bothers promoting political diversity among faculty. I’ll guarantee that if he is honest—and even bothers to answer the question—he will say no. READ MORE...

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