Category: Economics

Will Obama’s failure to create genuine wealth finally end Keynesian economics?

Many of Obama’s most educated supporters believe in him because they believe in Keynesian economics.  Central to that belief is the theory that government itself can be an economic engine.  If people aren’t working, have them work for the government or at least have the government fund their ostensibly “private

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Oil boom!

I met a semi-retired petroleum engineer in Alberta that was working on the Canadian tar sands development. I asked him what he had heard regarding the size of the Bakken oil field. He indicated that, pessimistically, it contained 1x the reserves of Saudi Arabia, while the optimistic projection was 3x the Saudi oil reserves.

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The forgotten lunch tab and what it says about personal responsibility in the age of Big Government

ABC reports that President Obama treated two service men and two local barbers to a high-fat Father’s Day lunch (high-fat, at least, for Obama), and then left without paying the tab: Amid the bustle of President Obama’s surprise stop for barbecue Wednesday the White House apparently overlooked one key detail:

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