Schwartz makes a passionate call for “practical wisdom” as an antidote to a society gone mad with bureaucracy. He argues powerfully that rules often fail us, incentives often backfire, and practical, everyday wisdom will help rebuild our world.
A New Zealand reviewer’s comments on this talk by Peter Schiff: A series of anecdotes sets the stage for a laymanís presentation of the key drivers of the boom and current bust ñ recession is the penance for past excesses. An entertaining presentation of the underlying economics that were largely ignored in last 5-10 years and are now the harsh reality. More»
Many of our personal and corporate behaviors most associated with the crisis are, in fact, spiritual failures for which the Christian faith has an alternative. One obvious failure is our levels of indebtedness. As historian Niall Ferguson recently wrote, Western . . . governments, corporations and households are groaning under unprecedented debt burdens. More»
There is all kinds of evidence that this economic tsunami…is radically changing the ways Americans think about money and the ways it has defined our modern way of life. We’re seeing an economic paradigm shift in the way people are beginning to save rather than spend. More»
Suggests in an society where there is less cash transactions and more electronic transactions there is greater tendency for people to be dishonest and still think they are honest.
The chance of a return to normal depends, in turn, on the banking strategy. To Obama’s economists a “normal” economy is led and guided by private banks. When domestic credit booms are under way, they tend to generate high employment and low inflation; More»