The Rationality of Cronyism

By Christopher Powers STATESMAN SENTINEL December 3, 2011 It has become more and more apparent to seemingly everyone of late, that the American economic system is not based on capitalism, but a twisted hierarchical system of special interests and government favors commonly known as “crony capitalism.” The distinction is very important, because crony capitalism in [...]

Ron Paul’s Budget Plan and Federal Employment

By Christopher Powers STATESMAN SENTINEL October 20, 2011 Congressman Ron Paul proposed a new budget plan that would cut $1 trillion from the federal government his first year in office, if he becomes president.  It would include immediately cutting funding to five agencies: the Departments of Education, Commerce, Energy, Interior, and Housing and Urban Development. [...]

Elizabeth Warren and Progressive Fairness

By Christopher Powers STATESMAN SENTINEL September 30, 2011 Elizabeth Warren is running in the 2012 US Senate race in Massachusetts.  Her campaign announcement video that came out last week emphasizes the importance of defending middle class American families who are being exploited by big corporations and their Washington lobbyists.  It sounds like enticing rhetoric. For [...]

Gold and the Monetary Planners

By Christopher Powers STATESMAN SENTINEL September 15, 2011 For the last month, gold prices have been hovering somewhere above $1,750 per ounce, spending many days over $1,800.  The price of gold in US dollars has skyrocketed since the summer of 2007, when it registered at about $660, yet it’s importance is still dismissed by mainstream [...]

Research and the Stimulus Plan: Are Keynesian Solutions Working?

By Christopher Powers STATESMAN SENTINEL September 7, 2011 President Obama is expected to unveil his next round of stimulus spending in his Thursday address to a joint session of Congress.  This comes at a time when the country is facing the highest jobless rates in twenty-five years, after trillions have been spent on a centrally [...]

The Government Can’t Save The Economy

By Christopher Powers STATESMAN SENTINEL August 24, 2011 This Labor Day, President Obama will reveal his newest plan for stimulating the still faltering economy.  Ben Bernanke will announce this Friday whether he will enact QE3.  Now seems like a good time to recap some of the major economic policies that were put in place since [...]

Is Military Spending Good for the Economy?

By Christopher Powers STATESMAN SENTINEL August 10, 2011 Toward the end of last week, the new Secretary of Defense, Leon Panetta, warned against any possible cuts to the defense budget. He and others in the military-political establishment have warned that cuts will not only harm the security of our nation, but also the economic recovery [...]

Who Cheered On the Debt Deal?

By Christopher Powers STATESMAN SENTINEL August 3, 2011 This week Congress reached an agreement to raise the debt ceiling.  The deal includes cuts in future spending increases over the next ten years, which means that the budget will continue to grow, only at a slower pace than originally predicted.  There were no current spending cuts [...]

The “Politics” of Free Markets

By Christopher Powers STATESMAN SENTINEL July 20, 2011 There is a tendency to always discuss economics and free markets in terms of politics. There are constant discussions about how “capitalists don’t believe in social security” or “capitalists believe in all powerful corporations.”  The political framing of free markets makes it sound like some heartless hierarchical [...]

Does the Fed Have Power Over Employment?

By Christopher Powers STATESMAN SENTINEL July 13, 2011 The Bureau of Labor Statistics’ recent jobs report was just another sign that the economic recovery still remains beyond the foresight of even the smartest established economic minds.  At this point, it is hard to believe that one of the main purposes of the Federal Reserve is [...]

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