Principles Of Government

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Principles of Government

Trump’s Tariffs Are as Bad as Bidenomics AA

By Phil Graham and Donald J. Boudreaux - April 14, 2025

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By Phil Gramm and Donald Boudreaux – Not since Herbert Hoover signed the Smoot-Hawley Tariff has a president chosen to disregard a larger body of informed opinion than President Trump did when he instituted his protectionist trade policy. Based on a series of verifiably false grievances—wages haven’t grown in 50 years, manufacturing has been hollowed out by imports, countries with trade surpluses are “ripping us off”—Mr. Trump used constitutionally questionable powers to abrogate congressionally approved trade agreements and undermine the world’s trading system. Markets convulsed in anticipation of the massive wealth annihilation that would accompany the shredding of global supply chains and a transition to a more protectionist world. Read More

Jimmy Carter, Champion of Deregulation AA

By Phil Gramm -Sept. 30, 2024

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By Phil Gramm – Jimmy Carter, who turns 100 on Oct. 1, doesn’t get enough credit for the quarter-century economic boom from 1983 to 2008 and the underlying resilience of the economy since. Without Mr. Carter’s deregulation of airlines, trucking, railroads, energy and communications, America might not have had the ability to diversify its economy and lead the world in high-tech development when our postwar domination of manufacturing ended in the late 1970s. The Carter deregulation helped fuel the Reagan economic renaissance and continues to make possible the powerful innovations that remake our world. Read More

Welfare Is What’s Eating the Budget AA

By Phil Gramm and Jodey Arrington - Sept. 11, 2024

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By Phil Gramm and Jodey Arrington – Means-tested social-welfare spending totaled $1.6 trillion in 2023. Welfare spending now absorbs an astonishing 72.6% of unobligated general revenue (total revenue net of Social Security and Medicare payroll taxes and premiums and mandatory interest on the public debt) and is larger than the claims against unobligated general revenue by Social Security (4.1%), Medicare (23.5%) and defense (37.2%) combined. Read More

The Counter-Revolt Finally Begins B

By Daniel Henninger - April 24, 2024

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A list of the phenomena laying us low includes: wokeness, DEI (diversity, equity and inclusion), defund the police (a depressing subset of wokeness), conspiracy theories, head-in-the-sand isolationism and a self-centered political polarization typified—from left to right—by Reps. Alexandria Ocasio-Cortez, Ilhan Omar, Cori Bush, Marjorie Taylor Greene, Matt Gaetz and Lauren Boebert….
In all these places, the reversals by elected officials are driven by the prospect of voters’ turning them out of office. That is the U.S. political system trying to right itself.
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‘Follow the Science’ Leads to Ruin A

By Bjorn Lomborg - March 13, 2024

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Over the past two centuries, global life quality has dramatically improved, to a large extent because of an incredible increase in energy, mostly from the harnessing of fossil fuels. That has made agriculture, industry and transportation vastly more productive. Average life spans have more than doubled, hunger has dramatically declined, and real income has increased tenfold. We risk all that progress if we just stop using fossil fuels.
The world still gets four-fifths of its energy from fossil fuels, because renewable sources rarely provide good alternatives. Half the world’s population entirely depends on food grown with synthetic fertilizer produced almost entirely by natural gas. If we rapidly ceased using fossil fuels, four billion people would suddenly be without food. Read More