“Game of Loans” ~ College Tuition Costs (ECON 101)

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There is a law in economics, it deals with artificially propping up businesses, “goods” politicians deem necessary, production, etc. George Gilder notes this in a clip I isolated in an interview:

  • “A fundamental principle of information theory is that you can’t guarantee outcomes… in order for an experiment to yield knowledge, it has to be able to fail. If you have guaranteed experiments, you have zero knowledge”

R-PT’s note: this is how the USSR ended up with warehouses FULL of “widgets” (things made that it could not use or people did not want) no one needed in the real world. This economic law enforcers George Gilder’s contention that when government supports a venture from failing, no information is gained in knowing if the program actually works. Only the free-market can do this.

This applies to the real world in many ways, one being the co$t of college. Here is a very short video explaining this well:

OF course, one of my favorite videos of ALL TIME shows how students “benefit” from a subsidizing of college majors when in reality if they had to pay for college themselves it would be (a) cheaper, and (b) they would go into careers other than their majors… like sign flippers and bartenders (or other fields that are hurting):

The great conundrum of the U.S. economy today is that we have record numbers of working age people out of the labor ‎force at the same time we have businesses desperately trying to find workers. As an example, the American Transportation Research Institute estimates there are 30,000 – 35,000 trucker jobs that could be filled tomorrow if workers would take these jobs–a shortage that could rise to 240,000 by 2022.

While the jobs market overall remains weak, demand is high for in certain sectors. For skilled and reliable mechanics, welders, engineers, electricians, plumbers, computer technicians, and nurses, jobs are plentiful; one can often find a job in 48 hours. As Bob Funk, the president of Express Services, which matches almost one-half million temporary workers with emplo‎yers each year, “If you have a useful skill, we can find you a job. But too many are graduating from high school and college without any skills at all.”

The lesson, to play off of the famous Waylon Jennings song: Momma don’t let your babies grow up to be philosophy majors.

[….]

Kids commonly graduate from four year colleges with $100,000 of debt and little vocational training. A liberal arts education is valuable, but it should come paired with some practical skills.

Third, negative attitudes toward “blue collar” work. I’ve talked to parents who say they are disappointed if their kids want to become a craftsman–instead of going to college.This attitude discourages kids from learning how to make things, which contributes to sector-specific worker shortages….

(HERITAGE)

(For full disclosure, my degree — theology — is one of the lowest paying degrees out there, and the lowest in employment opportunities.) In a short debate of the issue, Peter Schiff notes this “propping up” of useless degrees:

In the above discussion, Diana Carew seems to want jobs created by the government to fit the degrees earned. Otherwise, how would you force the private sector to create such opportunities unless you artificially demand [create] such opportunities? ~ There was zero unemployment in Soviet Russia, but all this “opportunity” collapsed due to economic laws… “this is how the USSR ended up with warehouses FULL of “widgets” (things made that it could not use or people did not want) no one needed in the real world. This economic law enforcers George Gilder’s contention that when government supports a venture from failing, no information is gained in knowing if the program actually works. Only the free-market can do this.” (Peter Schiff gets into the weeds a bit in this video.)

Here is another great PRAGER U video discussing the issue:

This is one of the areas Gary Johnson was correct — supply and demand:

FORBES notes well that most on the Left-end of the spectrum “don’t hate entrepreneurship and innovation,” but that their Econ 101 “part of the brain that deals with economics tends to shut down when discussing sectors like higher education (or healthcare).”

A WASHINGTON FREE BEACON post relates findings from a Federal Reserve Bank (NY) study showing that the federal student loans have increased the cost of college tuition while at the same time college enrollment did not increase:

The expansion of federal student loans has caused tuition prices to increase without increasing college enrollment numbers, according to a report from the Federal Reserve Bank of New York.

The report evaluated student financial data as well as federal student aid programs “to identify the impact of increased student loan funding on tuition.”

According to the report, yearly student loan originations grew from $53 billion to $120 billion between 2001 and 2012, an increase of about 126 percent. During this time frame, average sticker-price tuition nearly doubled, rising from $6,950 to $10,200 in constant 2012 dollars.

The report found that for each dollar of federal aid applied, tuition increased as well.

“We find that each additional Pell Grant dollar to an institution leads to a roughly 55 cent increase in sticker price tuition,” the report says. “For subsidized loans, we find a somewhat larger passthrough effect of about 70 percent.”

[….]

The report makes reference to a hypothesis put forth by William Bennett, the Reagan-era secretary of education. The so-called “Bennett Hypothesis” holds that “increases in financial aid in recent years have enabled colleges and universities blithely to raise their tuitions, confident that federal loan subsidies would help cushion the increase.”

Many have compared the market for postsecondary education to the housing market…. [see video at the top]

Which brings me to finish this post with a humorous look at the hipster douche-bags scratching his or her head in regard to high tuition costs via REASON-TV:

Government Investing A Recipe for Failure

  • “A fundamental principle of information theory is that you can’t guarantee outcomes… in order for an experiment to yield knowledge, it has to be able to fail. If you have guaranteed experiments, you have zero knowledge” ~ George Gilder

Interview by Dennis Prager {Editors note: this is how the USSR ended up with warehouses FULL of “widgets” (things made that it could not use or people did not want) no one needed in the real world. This economic law enforcers George Gilder’s contention that when government supports a venture from failing, no information is gained in knowing if the program actually works. Only the free-market can do this.}

From transportation to energy, and everything in between, should the government invest money in as many promising projects as possible? Or would that actually doom many of those ventures to failure? Burt Folsom, historian and professor at Hillsdale College, answers those questions by drawing on the fascinating history of the race to build America’s railroads and airplanes.

Why Capitalism Works ~ PragerU (w/Sowell, Freidman & Brooks)

This post is connected with another that is similar in it’s point.

Here, Thomas Sowell writes about the pernicious lie that comes from the Left by speaking about a great book by Arthur C. Brooks from AEI. What prompted me to post this is the indoctrination of our youth in this Facebook post that is horribly wrong in many respects:

Dollar Money Sign

“But seriously, to claim that we live in a post racial era is the epitome of absurdity. Although i’m all about forging unity we can’t do so while ignoring the reality of racial injustice, white supremacy, and national oppression in this country. Malcolm X perhaps said it best when he said you can’t have capitalism without racism. The capitalist system thrives off of racism and the division it creates amongst the masses of people. To fight tooth and nail against this order exploitation requires a relentless struggle against racism,white privilege, and all forms of bigotry.”

BONO on the free markets:

Here is Thomas Sowell’s review of Arthur Brooks book… there is the pencil example by Nobel winning economist Milton Freidman as well as an Artur C. Brooks presentation at the end. Econ class 150 is in session:

More frightening than any particular beliefs or policies is an utter lack of any sense of a need to test those beliefs and policies against hard evidence. Mistakes can be corrected by those who pay attention to facts but dogmatism will not be corrected by those who are wedded to a vision.

One of the most pervasive political visions of our time is the vision of liberals as compassionate and conservatives as less caring.

[….]

A new book, titled Who Really Cares by Arthur C. Brooks examines the actual behavior of liberals and conservatives when it comes to donating their own time, money, or blood for the benefit of others. It is remarkable that beliefs on this subject should have become conventional, if not set in concrete, for decades before anyone bothered to check these beliefs against facts.

What are those facts?

People who identify themselves as conservatives donate money to charity more often than people who identify themselves as liberals. They donate more money and a higher percentage of their incomes.

It is not that conservatives have more money. Liberal families average 6 percent higher incomes than conservative families.

You may recall a flap during the 2000 election campaign when the fact came out that Al Gore donated a smaller percentage of his income to charity than the national average. That was perfectly consistent with his liberalism.

So is the fact that most of the states that voted for John Kerry during the 2004 election donated a lower percentage of their incomes to charity than the states that voted for George W. Bush.

Conservatives not only donate more money to charity than liberals do, conservatives volunteer more time as well. More conservatives than liberals also donate blood.

According to Professor Brooks: “If liberals and moderates gave blood at the same rate as conservatives, the blood supply of the United States would jump about 45 percent.”

Professor Brooks admits that the facts he uncovered were the opposite of what he expected to find — so much so that he went back and checked these facts again, to make sure there was no mistake.

What is the reason why some people are liberals and others are conservatives, if it is not that liberals are more compassionate?

Fundamental differences in ideology go back to fundamental assumptions about human nature. Based on one set of assumptions, it makes perfect sense to be a liberal. Based on a different set of assumptions, it makes perfect sense to be a conservative.

The two visions are not completely symmetrical, however. For at least two centuries, the vision of the left has included a belief that those with that vision are morally superior, more caring and more compassionate.

[….]

The two visions are different in another way. The vision of the left exalts the young especially as idealists while the more conservative vision warns against the narrowness and shallowness of the inexperienced. This study found young liberals to make the least charitable contributions of all, whether in money, time or blood. Idealism in words is not idealism in deeds.

Here is Brooks short presentation


Some Later Additions:


“The Kronies” ~ Obama-Aged Action Figures

This comes via a hat-tip to MoonBattery, and the site for the figures is here: thekronies.com/

And at The Blaze you can find an interview with their creator. Here is the first video of the interview, but… before you watch it, one should familiarize themselves with what George Gilder said about a “static government,” and what Milton Friedman says about government monopolies:

“A fundamental principle of information theory is that you can’t guarantee outcomes… in order for an experiment to yield knowledge, it has to be able to fail. If you have guaranteed experiments, you have zero knowledge”

~ George Gilder, Interview by Dennis Prager

{Editors note: this is how the USSR ended up with warehouses FULL of “widgets” (things made that it could not use or people did not want) no one needed in the real world. This “insurers won’t be losing a lot of sleep over it” (see below) enforcers George Gilders contention that when government supports a venture from failing, no information is gained in knowing if the program actually works.}

Another Bailout Around the Corner ~ `The Hammer` Was Right!

Economic Laws

✿ “A fundamental principle of information theory is that you can’t guarantee outcomes… in order for an experiment to yield knowledge, it has to be able to fail. If you have guaranteed experiments, you have zero knowledge”

{Editors note: this is how the USSR ended up with warehouses FULL of “widgets” (things made that it could not use or people did not want) no one needed in the real world. This “insurers won’t be losing a lot of sleep over it” (see below) enforcers George Gilders contention that when government supports a venture from failing, no information is gained in knowing if the program actually works.}

Via Gateway Pundit:

This come via the Weekly Standard, but note that Charles “the Hammer” Krauthammer predicted this at the end of last year:

Bailing Out Health Insurers and Helping Obamacare

Robert Laszewski—a prominent consultant to health insurance companies—recently wrote in a remarkably candid blog post that, while Obamacare is almost certain to cause insurance costs to skyrocket even higher than it already has, “insurers won’t be losing a lot of sleep over it.” How can this be? Because insurance companies won’t bear the cost of their own losses—at least not more than about a quarter of them. The other three-quarters will be borne by American taxpayers.
Obamacare

For some reason, President Obama hasn’t talked about this particular feature of his signature legislation. Indeed, it’s bad enough that Obamacare is projected by the Congressional Budget Office to funnel $1,071,000,000,000.00 (that’s $1.071 trillion) over the next decade (2014 to 2023) from American taxpayers, through Washington, to health insurance companies. It’s even worse that Obamacare is trying to coerce Americans into buying those same insurers’ product (although there are escape routes). It’s almost unbelievable that it will also subsidize those same insurers’ losses.

Here, US-RUSSIA talks about some of the key differences between the Russia of today and the USSR of yesteryear:

…But what Russia does not suffer from is what the Soviet Union suffered from: massive economic distortion through state subsidies and outright fiat. The Soviet Union’s policy to contain inflation was not to raise interest rates or limit bank lending but to make inflation illegal. Inflation was banned and prices on a host of important goods were frozen (consumers, of course, paid the increased cost through ever-more-pervasive shortages). The Soviet treatment of unemployment was similar. The Soviet Union sought to lower unemployment not through tax credits or through loose monetary policy but by making unemployment a crime and forcing enterprises to boost their payrolls. Stories abound of Soviet grocery stores that had  four different ticketing systems and ten different cashiers. This sort of inefficiency wasn’t some mysterious manifestation of eastern barbarism, it was an entirely predictable result of Soviet economic policy…

The question is, what is the healthiest direction/pulse of the nation to go? Making market “realities” a fiction, and artificially insulated from what the public wants… thus increasing the government’s involvement (increasing it’s growth and stripping away freedoms in order to artificially prop-up parts of the market) in our personal lives and restricting of choices? Or a free’er market which increases our freedoms and allows products and reforms to be MOST affected and guided by the people?


One last point, the most important. Unlike big business when it makes mistakes, big government cannot go out of business. Unlike corrupt government, corrupt business cannot print money and thereby devalue a nation’s currency. Businesses cannot coerce you by force (tax liens, garnishing of wages, or armed IRS officials, etc) into an action. So the “greed” of the corporation pales in comparison to the greed of government.[6] Which is why our Founders stated that, “The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government” (Patrick Henry); “Government is not reason; it is not eloquence. It is force. And force, like fire, is a dangerous servant and a fearful master” (George Washington). (Read More)

Socrates in the City ~ Darwin’s Doubt: Interview with Stephen Meyer

Video Description: Darwin, the scientific method, Danny DeVito, and Cher all manage to find a place in this mind-boggling and entertaining conversation between Eric Metaxas and Stephen Meyer, at the Union League Club in New York City on September 12, 2013. Buy Meyer’s book here.

Alternative Energy Boondoggle, [California] Tax-Payers Being Ripped Off!

Medieval Scam Alert

According to the EIA, new on-shore wind power is about 37 percent more expensive than new advanced-coal technologies. And solar power makes wind power look like a bargain — new solar photovoltaic power is close to 300 percent more expensive than new advanced-coal technologies. Americans already massively subsidize these costly forms of energy. Wind receives federal subsidies equal to $23.37 per megawatt hour, and solar receives $24.34 per megawatt hour. (Coal receives 44 cents per megawatt hour.) ~ National Review

I have people close to me that will never vote for a bond measure because they do not want their property taxes to increase, but they will increase everyone’s taxes to fund failing business plans and technology. The disconnect is astounding. Here is a positive look at this ponzi scheme that has transferred millions of tax-payer monies to fund the company, to fund people buying the product, and to fund the buying back of the energy — all at the cost of the tax-payer because profit in this industry is impossible:

…Additionally, renewable energy qualifies for accelerated depreciation, which has the effect of reducing OFM’s taxable income and will lower the company’s tax obligation by about $170,000 over two years, Zalcberg said.

Then there’s the business of selling power to the power company. OFM is selling electricity from its solar farm to Progress for 18 cents a kilowatt hour, a premium price approved by state regulators to promote solar energy. At the same time, OFM is paying only one-third of that price for the power it buys from Progress.

The effect is that instead of paying a utility bill, OFM will receive $60,000 yearly from Progress over its 20-year contract with the utility….

Now, here is the John Locke Foundation looking at the same topic:

Getting taxpayers and electricity ratepayers to pay your electric bill

This September 2010 N&O report about the Holly Springs furniture company OFM shows why solar is so popular with private businesses and why it is such a bad deal for taxpayers and ratepayers.

According to the numbers in the story, we can make a rough calculation of who pays and who benefits. First, OFM gets the taxpayers to pay for half of the cost of the solar equipment (i.e., half of $1.4 million, or $700,000). Then OFM receives taxpayer-paid tax breaks worth $170,000. Then Progress Energy ratepayers pay OFM 18 cents per kilowatt-hour for electricity produced by the solar panels, while OFM buys power from Progress Energy for 6 cents per kilowatt-hour to run its facility — a net profit of 12 cents per kilowatt-hour. Over 20 years, that would amount to a $1.2 million “profit” from Progress Energy inflicted on ratepayers by the legislature when it passed SB 3.

We must remember that OFM must pay for one-half of the cost of the solar panels, but subtracting the $700,000 cost from the total subsidies above ($2.070 million), OFM gets a cool “profit” after that expense of $1,370,000 to its bottom line courtesy of North Carolina taxpayers and Progress Energy ratepayers.

And that is not all. OFM and other businesses that participate in this fleecing of taxpayers and ratepayers get glowing media reports like this one.

OFM Celebrates One-Year Anniversary of Solar Farm With Plans to Expand

Holly Springs, N.C. — This month office and school furniture manufacturer, distributor and wholesaler OFM is celebrating the one-year anniversary of the 250-kilowatt solar farm it installed on the rooftop of its headquarters in Holly Springs, N.C. last August. The company has since been producing more energy than it uses…

Why not expand when you can force taxpayers and ratepayers to pay your electricity bills? Businesses that feed at the public trough are nothing new. This example illustrates that the environmental movement is the new home of crony capitalism, with taxpayer and ratepayer subsidies for solar, wind, electric car batteries, new LED lighting, the list goes on and on. Businesses get billions, politicians get good press, and taxpayers and ratepayers get fleeced. For more details, see John Stossel’s report on crony capitalism….

…read more…

Hurting the poor the most

The Institute for Energy Research found

that electricity prices are almost 40%

higher in states with mandates for their use.

(source)

How bout’ California? We can see the same boondoggle going on here as well… and its getting worse under government MoonBeam! (Waaay worse.) Here is some info from Hockey Stick, via the WSJ:

…California, for example, has allocated $3.3 billion in rebates for solar installations through 2016 and compensates residents between $0.20 and $0.35 cents per watt of expected performance (about 5% to 10% of the total cost of installation). San Francisco, which has a 100% renewable goal, provides additional rebates ranging from $2,000 to $10,000 per residential installation.

Meantime, school districts in California have received a total of $400 million this year for energy-efficiency projects, including window-glazing and solar-panel installations. SolarCity has contracted with school districts in Barstow, Simi Valley, Los Angeles and other cities.

SolarCity also benefits from “net metering” policies that 43 states, including California, have adopted. Utilities pay solar-panel customers the retail power rate for the solar power they generate but don’t use and then export to the grid. Retail rates can be two to three times as high as the wholesale price of electricity because transmission and delivery costs, along with taxes and other surcharges that fund state renewable programs, are baked in.

So in California, solar ratepayers on average are credited about 16 cents per kilowatt hour on their electric bills for the excess energy they generate—even though utilities could buy that power at less than half the cost from other types of power generators

Not to mention green jobs and money going to waste or keeping money laundering back into the political parties (mainly Democratic):

Cal Watchdog asks a simple question, gives three short responses, and then you can read the rest:

Now that the $2.167 billion California Solar Initiative is winding down, electricity ratepayers might ask: What was it and what did it accomplish? Was it:

1.) A cutting edge solar energy project to bring about a “self-sustaining” solar power industry, as touted by the California Public Utilities Commission (CPUC) and state legislators?

The answer is mostly no based on post-project evaluations done by academic experts.

2.) A program to replace very expensive conventional peak time power plants with equally expensive but clean rooftop solar electricity that is generated at the time of day when it is hottest?

The answer is no. Contending that rooftop solar power replaces conventional peak time power is bogus. This is because electricity rates are tiered depending on usage and climate zone and the fact that ultra peak power rates during heat waves and cold snaps only last maybe as much as four weeks out of 52 weeks in a year.

3.) An expensive, artificial green energy and jobs program that is now being wound down, as there is a recovery in the jobs market?

The answer is yes. Since California’s Solar Initiative did not produce a self-sustaining rooftop solar power market (Question No. 1) and cannot be justified as a replacement for expensive peak time electricity, this leaves us with one conclusion: It was mainly a jobs stimulus program that ended up adding about a $200 tax to 10.8 million utility customers’ electric bills.

[….]

Millions of utility customers subsidize solar installations

Of course, the CPUC omitted disclosing that the $6.16 per kilowatt cost of installing rooftop solar power came by adding $2.167 billion to the electricity bills of other California electricity ratepayers. To provide subsidies to the 118,303 recipients of residential, commercial and governmental rooftop solar power installations the electricity bills had to be raised for 10.8 million customers of Southern California Edison, Pacific Gas and Electric (PG&E) and San Diego Gas and Electric (SDG&E) through its subsidiary the California Center for Sustainable Energy (CCSE).

In other words, the Solar Initiative mandated on average about 91 other electricity customers to subsidize the rooftop solar installations of each rooftop solar power installation. Spread over 10.8 million customers, that equates to about a $200 tax per California electricity customer. The California Solar Initiative is another socialized system like Social Security that is based on a larger base of utility ratepayers paying for a smaller number of recipients. It is a program based on privatizing profits and socializing losses.

Thus, the $6.16 per kilowatt cost installed and 43,000 solar-energy-related jobs created by the California Solar Initiative are artificial and not market-based. The program could never have become self-sustaining in the first place.

…read more…

When government picks winners and losers, we all lose:

The California Air Resources Board is reportedly considering a new plan to help transportation for low earners: buying them cars. The agency would like to give those of low income a voucher to buy energy-efficient vehicles like the Nissan Leaf, which has a sticker price of $21,000. The board currently gives drivers $1,000 to $1,500 to get rid of their older vehicles in an attempt to curb carbon emissions; there is a second program that gives up to $4,000 depending on the vehicles involved.

….The CARB has even implied that it could sponsor the full purchase of an $18,000 for families of three looking to pick up a hybrid. Stanley Young, spokesman for the Air Resources Board, said that California should “make sure low-income people can also get into these clean vehicles.”

The federal cash for clunkers program was an immense failure, frontloading car purchases but doing nothing to truly spur demand for new vehicles. This program would have the ostensible goal of moving America’s auto industry toward more fuel efficiency; instead, it would redistribute income by subsidizing big business.

~ Breitbart

“A fundamental principle of information theory is that you can’t guarantee outcomes… in order for an experiment to yield knowledge, it has to be able to fail. If you have guaranteed experiments, you have zero knowledge” ~ George Gilder

Central planning ALWAYS fails. Competition is a “discovery procedure,” Nobel-prize-winning economist F. A. Hayek taught. Through the competitive market process, we producers and consumers constantly learn things that force us to adjust our behavior if we are to succeed. Central planners fail for two reasons:

First, knowledge about supply, demand, individual preferences and resource availability is scattered — much of it never articulated — throughout society. It is not concentrated in a database where a group of planners can access it.

Second, this “data” is dynamic: It changes without notice. No matter how honorable the central planners’ intentions, they will fail because they cannot know the needs and wishes of 300 million different people. And if they somehow did know their needs, they wouldn’t know them tomorrow.

~ John Stossel

Chevy Volt ~ Government Backed Failure

Lonely Conservative mentions the inevitable:

Ah well, I guess they figure if they lose enough money on Volt production they can just come back to the taxpayer trough for another big bailout.

Nearly a year ago General Motors was losing almost $50,000 for each Chevrolet Volt it built. Now GM’s business model, driven by trendy environmentalism, calls for it to cut the price and lose even more money.

The green lobby wants more hybrids and plug-in electric cars on the roads. Therefore the president wants 1 million electrics humming around by 2015 — and the carmakers have to ignore market reality under pressure to do what the environmentalist-political complex demands.

Even if it makes no sense. ….

This time it’s because the automaker is going to drop the price by $5,000. USA Today reports that with “a full $7,500 federal tax credit, the price is cut to $27,495,” a figure that doesn’t include some state tax credits.

Aside from those whose egos demand that they use their cars to scream out their moral superiority as environmentalists, and maybe a few enthusiasts who dabble in the technology, does anyone really want these electric cars? Their dismal sales numbers simply do not justify their existence.

…read more…

Government Intervention Creates Zero Capital

“A fundamental principle of information theory is that you can’t guarantee outcomes… in order for an experiment to yield knowledge, it has to be able to fail. If you have guaranteed experiments, you have zero knowledge” ~ George Gilder

Security Means Less Freedoms, America`s March Toward Europe ~ Whiteboard Video

George Gilder Explains an Economic Law

Speaking about government guarentees and especially “protections” (regulations) like Dodd-Frank, George Gilder enumerated the following Law:

“A fundamental principle of information theory is that you can’t guarantee outcomes… in order for an experiment to yield knowledge, it has to be able to fail. If you have guaranteed experiments, you have zero knowledge”

~ George Gilder in an Interview with Dennis Prager about his book, Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World.

From video description:

Across the Atlantic, Americans see European economies faltering under enormous debt, overburdened welfare states, governments controlling close to fifty percent of the economy, high taxation, heavily regulated labor markets, aging populations, and large numbers of public sector workers. They also see a European political class that is unable — and, in many cases, unwilling — to implement economic reform.

This timely and sobering video explains why Americans cannot ignore the “canary in the coalmine” across the pond in determining our future. We must ask the question: “Is America becoming Europe?”

To learn more read Dr. Samuel Gregg’s Becoming Europe: Economic Decline, Culture, and How America Can Avoid a European Future: http://www.amazon.com/dp/1594036373/

“This is a book that every economist, historian, and politician should read.” ~ Amity Shlaes, syndicated Bloomberg News columnist

“Europe is a terrifying example of what happens when the state gets too large and the money runs out. Don’t imagine that it couldn’t happen to you.” ~ Daniel Hannan, British Conservative Member of the European Parliament

Government Guarantee Limits Creativity and Information ~ George Gilder

Dennis Prager interviews George Gilder about his new book, “Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World.” I found this small bit on Dodd-Frank interesting as it leads to government interference creating a business atmosphere that nets zero information — or — creativity, entrepreneurial investment, or new growth in small business.