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Lawrence W. Reed
Lawrence W. Reed – makroekonomista. Od 2008 jest prezydentem Foundation for Economic Education. W latach 80. zorganizował grupę sponsorów, którzy sfinansowali wydanie w II obiegu książek Miltona Friedmana w Polsce. Został za to aresztowany przez służby kontroli granicznej. W 1998 r. opublikował „Great Myths of the Great Depression” Opinie autora blogu nie powinny być utożsamiane z oficjalnym stanowiskiem NBP w omawianych kwestiach.
Artykuły
The Quackery of Equality
”Free people are not equal, and equal people are not free.”
I wish I could remember who first said that. It ought to rank as one of the great truths of all time, and one that is fraught with profound meaning.
Equality before the law–that is, being judged innocent or guilty based on whether or [...]
To Promote Success, Don’t Protect Against Failure
Three decades ago when the Chinese embarked upon the reforms that would transform their economy into a powerhouse, one of the first things they did was to announce that some previously-protected state-owned industries would for the first time be allowed to fail.
The late Frank Borman, an astronaut and airline executive once said, “Capitalism without bankruptcy [...]
Animals We Can Learn From
There’s an old story worth retelling about a band of wild hogs which lived along a river in a wild and remote area. These hogs were a stubborn, ornery, independent bunch. They had survived floods, fires, freezes, droughts, hunters, dogs and everything else. No one thought they could ever be captured.
One day a stranger came [...]
Destruction is NOT a Blessing
One of the most enduring economic fallacies is that destruction is an economic blessing. It cries out for a response.
Who can forget the awesome scenes of devastation from some of the worst earthquakes of recent decades in places like Japan or California — skyscrapers reduced to piles of rubble, freeways heaved and twisted, homes wiped [...]
What is competition?
“Competition” is one of those terms whose definition everyone assumes he knows. Most people would say they like it and would welcome more of it, but they are usually more enthusiastic if it’s “the other guy” and not themselves who has to deal with it.
So what exactly is “competition?” I define it as “striving for [...]
Happy Birthday, Mr. Gladstone
December 29, 2009 marks the bicentennial of the birth of one of Britain’s greatest statesmen and indeed, of one of the most colorful figures in parliamentary history anywhere—William Ewert Gladstone.
No individual in history had a longer or more distinguished career in the British government: 62 years in the House of Commons; in [...]
Podatki, klucz do gospodarki
Z historii gospodarki płynie wiele wniosków, ale jeden z najważniejszych z nich brzmi następująco: Ludzie reagują na pozytywne i negatywne bodźce, na nagrody i kary. Jeśli zachęca się ich do jakiejś aktywności za pomocą większych rzeczywistych lub potencjalnych nagród, aktywność ta nasila się. Jeśli jest karana, ludzie się z niej wycofują albo schodzą do podziemia - pisze dr Lawrence Reed, Foundation for Economic Education.
The Great Recession of 2008
Booms and busts in the economy occur with enough frequency that many people think they are both inevitable and inexplicable. They are almost always neither. Each adventure on the economic roller coaster has a cause (or causes), and each can be reasonably explained. If we learn the lessons that careful observation and analysis teach, we [...]
Too big too succeed
For at least a century, the credit rating of the American government was rock solid. Anyone, anywhere, could invest in U. S. Treasury securities knowing that they had made one of the safest investments in the world.
But this week came word from Moody’s, the well-known rating agency, that within four years America’s bonds might lose [...]
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