Economics

Daniel Wahl reviews The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History, by Gregory Zuckerman.

Zeros in on the arbitrary, rights-violating nature of antitrust law; surveys the Obama administration’s efforts to bolster antitrust enforcement; considers the unprincipled arguments put forth by today’s most vocal opponents of antitrust; and calls for Americans to take a principled, rights-based stand—not only against the administration’s reinvigorated antitrust assault, but against antitrust law as such.

A person who is in the pay of the government is not always free to speak publicly about the most pressing issues he confronts. Administrators who are appointed to perform specific tasks are generally not free to contradict or even to challenge policies. They often cannot advocate for specific proposals,…

Daniel Wahl reviews The Snowball: Warren Buffett and the Business of Life, by Alice Schroeder.

John Mackey, CEO of Whole Foods, has an excellent article in the Wall Street Journal, in which he outlines several market-oriented changes that would substantially improve the quality of health care in America, multiply consumers’ options, and decrease health-care costs. Among other things, Mackey advocates the following: Remove the legal…

Andrew Martin has a nice article in today’s New York Times, titled “Give BB&T Liberty, but Not a Bailout.” The piece is, for the most part, positive, and I highly recommend it. I must point out, however, that the article includes a smear by subjectivist philosopher Brian Leiter, who expresses…

Daniel Wahl reviews Fooling Some of the People All the Time: A Long Short (and Now Complete) Story, by David Einhorn.

Eric Daniels reviews Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, by George A. Akerlof and Robert J. Shiller.

Discusses the nature and value of hedge funds, the ill effects of economic regulations, and how to fight for free markets.

Zeros in on the fundamental cause of the problem, showing that widespread acceptance of the morality of self-sacrifice necessitated the kinds of laws, regulations, and decisions that have driven the financial markets into the gutter.