Economics

Economics: Lawrence W. Reed on the Seven Principles of Sound Public Policy

  Lawrence W. Reed is president emeritus of the Mackinac Center for Public Policy, a Midland-based research and educational institute on September 1, 2008. The Center's mission is to equip Michigan citizens and other decision-makers to better evaluate Michigan public policy options and to do so from a "free market" perspective.  For a PDF version and more information visit:  http://www.mackinac.org/article.aspx?ID=3832 […]

 
 

Russian President may push 'new world currency'…

EXCERPT FROM BLOOMBERG.COM Russian President Dmitry Medvedev may discuss his proposal to create a new world currency when he meets counterparts from Brazil, India and China this month, Natalya Timakova, a spokeswoman for the president, told reporters by phone today. Russia's proposals for the Group of 20 meeting in London in April included studying a supranational currency. "We need some […]

 
 

China and Brazil Plan to Dump Dollar (FT)

This news will have significant repercussions for the United States economy.  Editor Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil's central bank and aides to Luiz Inácio Lula da Silva, Brazil's president. The move follows recent Chinese challenges to the status of the dollar as the world's leading […]

 
 

ANALYSIS: European Sunday Weekly Rest Day Legislation Remains Unlawful

The main purpose for writing this article is to respond to the relentless attempts in recent times to legislate in the European Union, Sunday as an official weekly rest day. The lobbyists championing this cause have been among other associations, the Roman Catholic Bishops (COMECE), some Protestants church representatives and certain Members of the European Parliament (MEPs).[1] I will now provide a synopsis of the background on this issue and show how it has developed to the present day.

 
 

Alan Greenspan: Gold and Economic Freedom (1966)

Alan Greenspan: Gold and Economic Freedom (1966)

[Given the recent state of the economy, it is important to explore whether there is a strong correlation between religious freedom and economic freedom, or individual property rights and the interest of the state. The following was published in Ayn Rand's "Objectivist" newsletter in 1966, and reprinted in her book, Capitalism: The Unknown Ideal, in 1967.  Regardless of what you think of […]

 
 

London Telegraph Describes G20 Plan For Bank Of The World, Global Currency

EXCERPT: A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order. "We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity," it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International […]

 
 

Soros sees no bottom for world financial "collapse" (Reuters)

NEW YORK (Reuters) – Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis. Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

 
 

Economics, Faith, and Politics – European Churches call on EU Parliament to adopt 'work-free Sunday' declaration

The Protestant Church in Germany (EKD), COMECE (the Bishops Conference of the European Community), and the Church of England are calling upon the European Union Parliament to approve a Written Declaration on "on the protection of a work-free Sunday as an essential pillar of the European Social Model and as part of the European cultural heritage."

 
 

$65.5 TRILLION in U.S. Federal obligations exceed the gross domestic product of the entire world (WorldNetDaily)

The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.

 
 

The Link Between Religious Freedom and Economic Freedom

Religious liberty and economic freedom draw on and encourage similar traits. New data on economic liberty and religious freedom suggest that religiously free societies encourage entrepreneurs whose new enterprises benefit themselves, their companies, employees, shareholders, consumers, stakeholders and the entire community. In other words, religiously free societies usually display the highest concentration of companies that generate prosperity and broad development. Closed religious systems foul economic development and stunt growth. Closed economic systems are unkind or worse to religious sentiments and practice. Open systems in both areas are necessary to sustain human flourishing. Hence, if we desire more economic freedom and prosperity, then we should have a strategy of promoting religious liberty. If we want economic growth and development, we need to tolerate and permit religious groups and persons to follow their beliefs. Competition for religious activity creates healthy conditions for economic competition and activity.