[Editor’s note: A version of this article first appeared at Forbes.com.]

Republicans are flailing about these days, trying to rebrand themselves before the next election cycle. A certain amount of introspection and internecine debate is inevitable after suffering a stinging loss against an opponent with a dismal record.

One thing the GOP needs to do to gain greater acceptance among voters is to improve their credibility by outgrowing a tiresome, unthinking opposition to any and all tax increases. Read More»

[Editor’s note: A version of this article first appeared at Forbes.com.]

The election of Socialist Party candidate Francois Hollande to the presidency of France epitomizes the sorry state of contemporary democracy. By that, I don’t mean to imply that the French people should have voted for the incumbent, Nicolas Sarkozy. Neither would be capable of solving France’s intractable problems in a way acceptable to French voters, nor are the problems with democracy unique to France. To varying degrees they exist throughout Europe as well as here in the United States. Read More»

[Editor’s note: A version of this article first appeared at Forbes.com.]

With Rick Santorum having dropped out of the race, Mitt Romney is apparently the Republican nominee for POTUS, barring a “black swan” event swooping down out of nowhere.

Why has the Republican Party taken so long to decide upon its presidential nominee? The two most common explanations given have been the structure of the primaries and the absence of an “ideal” candidate. Read More»

In a recent piece for the Wall Street Journal, Andy Stern, an Obama insider and one of organized labor’s more aggressive personalities, praised what he called “China’s superior economic model.”

Does China have a superior economic model? That depends: Superior to what?

Mr. Stern, who headed the Service Employees International Union, cited Andy Grove, founder and chairman of Intel, who concedes the 20th century’s “decisive victory of free-market principles over planned economies.” Read More»

In economics, the first lesson I teach my pupils is the lesson of things that are seen and things that are not seen. Actions have some effects that are readily apparent and others are overlooked or not perceived.

It’s the same with our military veterans. We see the obvious price they’ve paid — the time they spent far away from home and some of the physical injuries, such as lost limbs. What we don’t see are their psychological wounds. Sadly, these are more numerous than physical injuries, and they often cause greater suffering. Read More»

It isn’t easy to earn interest income these days. Interest rates on government T-bills, banks’ savings accounts, and certificates of deposit are microscopic. You can blame our government and central bank. They have “ZIRPed” millions of American savers. Here are the details: Read More»

It has been over a year since I have written about the fragile condition of the European Union’s financial system. The financial crisis of a possible Greek default has been papered over since then, but now it is coming to a head again.

Greece again is teetering on the brink of default. This month, Greek debt was so unpopular that interest rates on one-year notes spiked to 98 percent. No country grows so vigorously that its government can afford to double its creditors’ money in one year, and certainly not a bankrupt government like Greece’s. Read More»

If you watched President Obama’s speech to a joint session of Congress, you didn’t see anything new. He did what he does best — campaign for re-election and pay lip service to private enterprise and fiscal responsibility while proposing more top-down economic planning that (despite his claims to the contrary) will surely plunge the government more deeply into debt; that is, if Congress gets stampeded into passing the proposed “American Jobs Act.” Read More»

The price of gold has gone on a tear this summer, from slightly under $1,500 per ounce to well over $1,800 per ounce, and it looks like it wants to go higher. What gives?

Well, if you bought gold last spring, you’re looking pretty smart. And if you bought gold a decade ago at $300 per ounce, you’re looking like a whiz. Read More»

As the Aug. 2 deadline for a debt-ceiling deal drew near, many expected a big deal that would significantly change the direction of federal fiscal policy. After weeks of tumultuous negotiations, partisan bickering, and impassioned histrionics, the agreement that finally emerged was, to put it bluntly, no big deal.

Ironically, the most accurate assessment I read about it was Russian Prime Minister Vladimir Putin’s comment that it “was not that great overall because it simply delayed the adoption of a more systemic solution.” Read More»