Today’s big puzzle is how so many otherwise rational people have become enamored of Donald Trump, projecting onto him virtues and principles that he clearly does not have, and ignoring gross defects that are all too blatant.
None of the things proposed by the President Obama is likely to reduce gun violence. Like other restrictions on people’s ability to defend themselves, or to deter attacks by showing that they are armed, these new restrictions can cost more lives on net balance.
The nomination of Janet Yellen to become head of the Federal Reserve System has set off a flurry of media stories. The Federal Reserve has become such a major player in the American economy that it needs far more scrutiny and criticism than it has received, regardless of who heads it.
A nation’s choice between spending on military defense and spending on civilian goods has often been posed as “guns versus butter.” But understanding the choices of many nations’ political leaders might be helped by examining the contrast between their runaway spending on pensions while skimping on military defense.