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Why Business Should Dispense with ESG
powered by Surfing Waves “Milton Friedman’s shareholder doctrine is dead.” Such was the headline of a 2020 Fortune magazine article critiquing Friedman’s famous New York Times opinion piece which, fifty years earlier, had argued that the social responsibility of business is to increase its profits. The Fortune article was just one of many op-eds, academic papers, and books penned over the past 52 years disputing Friedman’s thesis. Their authors haven’t been shy about proposing alternative mo…
Real Progressives Would Support Bitcoin and the Crypto Economy, Not Regulate It Away
powered by Surfing Waves When political progressives address topics like inflation, taxes, or corporate wrongdoing, they claim to speak for the people. Whether it’s the working class or minorities, progressives aim to shape government policy to protect those at constant risk for exploitation. But when these same individuals, such as U.S. Senator Elizabeth Warren (D-MA) , turn their focus to innovative technologies like Bitcoin and its crypto offspring (cryptocurrencies with immense potential to empowe…
Six Ways Socialism is Anti-Social
powered by Surfing Waves Here’s a question for a PhD dissertation: How did something so radically anti-social ever get the name, social-ism ? I leave that vexing matter to whoever wants to write it up. Meantime, I can assist the project by offering some of the reasons why socialism is a self-evidently anti-social contrivance. First, what is socialism? For a definition, socialists themselves offer numerous moving targets. For example: It’s happy talk and sharing things even though under socialism there’s less…
Professors Are Not “Priests of Democracy”
powered by Surfing Waves On Nov. 17, US District Judge Mark Walker struck down Florida Governor Ron DeSantis’ signature Stop WOKE Act, which bars Florida’s higher education institutions from teaching critical race theory (CRT), and “prohibits school districts, colleges and universities from hiring woke CRT consultants.” Although the decision’s practical ramifications will attract the bulk of media and scholarly attention, the arguments behind Walker’s ruling, which make strong, normative claims about ac…
American Health Care Consumers Should Have Access to Drugs and Devices Benefitting People in Developed Countries
powered by Surfing Waves Reprinted from the Cato Institute Swiss Medtech, a trade association representing the medical technology industry, issued a press release on November 28 praising the Swiss Parliament for enacting legislation allowing Swiss health care providers and patients to access medical devices approved by the U.S. Food and Drug Administration. Until now, the Swiss government only permitted patients and doctors to access devices that have a CE Marking , which indicates the device meets…
What I Learned in My Time With Chairman Bernanke
powered by Surfing Waves Ah, the Fed. I’ve always been amazed to see how such a “traditional” and supposedly “free market” institution has usually enjoyed a great degree of public acceptance and credibility. The Federal Reserve has made erroneous predictions (remember its assurance of “transitory inflation”?), shown astounding hubris (its job of setting an accurate price of money assumes that a small group of experts know what that price should be), and to my knowledge has never predicted a recession (we’ve ha…
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