At the end of the 18th century, there were two great Western revolutions -- the American and the French. Americans opted for the freedom of the individual, and divinely endowed absolute rights and values.
An article in the Los Angeles Times this week described how some of the city's top foodie destinations are beginning to impose a surcharge on patron checks to help cover the cost of providing health insurance to their employees:
While in most states elections just feature candidates, in the Golden State, voters also have to wade through a host of ballot initiatives. This November, California voters will face six boring, but important propositions; boring because none have a large and vocal voter constituency on both sides, making the campaigns either non-existent or one-sided. Yet, they have important ramifications if they pass or fail.
Over and over, we have heard the no-military-solution shibboleth applied to the Israeli-Palestinian conflict as well as to insurgencies or military clashes elsewhere. The sheer length of Palestinian and Arab armed hostility toward Israel superficially lends credence to the fuzzy notion that only high-minded diplomacy can dissolve the Middle East belligerency. One after another grand peace scheme, however, has failed. Yet faith remains in them rather than a military end.
"It's kind of shocking to realize the person known as the father of modern economics, Adam Smith, didn't think the pursuit of wealth was a very good idea," say Russ Roberts. "He thought it was corrosive, thought it was bad for you, thought ambition was bad for you, thought the pursuit of fame would destroy your character and your happiness, your serenity, your tranquility.
Last week, Alan Greenspan penned an interesting article in Foreign Affairs that praised China’s recent conversion of some of its $4 trillion foreign exchange reserves into gold bullion and gave the gold standard some further adulation in a world where there is relatively little today from mainstream economists.
High unemployment and economic stagnation will continue to plague the eurozone for half a decade, even if European policymakers implement tough reforms, according to Nobel laureate Michael Spence.
President Obama embarks on a three-day fundraising swing Thursday in California, friendly political territory meant to pump cash into Democratic campaign coffers in the final scramble before November’s midterms.
