Issue CCLXIX

December 14, 2010

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Economics
Privatizing Air Security:
Robert P. Murphy

December 14, 2010
In reaction to the growing public anger at the TSA and its "freedom fondles," some pundits are rushing to the bureaucracy's defense. An illustrative example is Marc Thiessen's call for Americans to give thanks to the "men and women of the TSA who give up time with their families during the holidays to keep us safe from terror." As Dr. Robert Murphy shows, Thiessen's defense of the TSA is internally contradictory. Moreover, his endorsement of a government monopoly (on the design of air security) ignores all of the economic arguments against such an arrangement. The only way to strike a proper balance between the (possibly competing) goals of customer privacy and safety is to allow competition among airlines in a truly free market.

America's Road to Financial Ruin:
Douglas French

December 14, 2010
The debt-and-bubble culture didn't spring forth with Richard Nixon closing the gold window in 1971 while declaring "we're all Keynesians now" — although that accelerated the process. No, as bank analyst Christopher Whalen points out in his new book Inflated: How Money and Debt Built the American Dream, America's road to financial ruin — the same road traveled by Great Britain and the Romans — began more than a couple centuries ago. Douglas French reviews Whalen's fascinating historical analysis.

The People on the Move:
Jeffrey A. Tucker

December 14, 2010
There are moments in history when the people are on the move, consistent with the logic of history, and no force on earth can stop them. You can see it in the images of Russians in 1990 pulling down cast-iron statues of Lenin. You can see it in the images of the Romanian people charging Ceausescu's palace in 1989. And Jeffrey Tucker just saw it recently at Bed, Bath, and Beyond as the people raided the towers of K-cups holding coffee and tea to go into the Keurig coffee maker that is the blazing-hot item for the holidays. Why are these K-cups so appealing? Mr. Tucker explains from the standpoint of the economics of innovation.

What's Wrong With the Job Market?:
Llewelyn H. Rockwell, Jr.

December 14, 2010
The terrible job market has vexed an entire generation. It shows no hope of improving anytime soon. Young people are shut out. College students are taking refuge in matriculation without end. Thirty-somethings are zoning out in their parents' basements and attics. Despair for the future has become a theme of American public life. The question we must ask is, why is unemployment stuck at 10 percent in the narrowest measure and as high as 30 percent for some demographics? Llewelyn Rockwell explores this crucial issue.

Politics
The EPA Versus the USA:
Alan Caruba

December 14, 2010
It seems almost beyond reason that a single U.S. agency could so hate America that it was prepared to ignore the Constitution, distort a Supreme Court decision, and impose its will on the nation in the name of totally discredited science. That, however, is what Alan Caruba believes the Environmental Protection Agency is seeking to do while Americans are distracted by the Christmas celebrations. The agency’s objective is to regulate so-called greenhouse gases (GHGs) on January 2, 2011. More specifically, it would regulate emissions from power plants and other large emitters, but in reality it would end the role of coal as the provider of 50% of the electricity Americans require.

False Prophecies Beget Faulty Policies:
Willie Soon and Madhav Khandekar

December 14, 2010
Acclaimed scientists Willie Soon and Madhav Khandekar address one of the primary driving forces behind the global warming scares, the claims of imminent planetary disaster, the demands that we funnel billions to climate researchers and renewable energy developers – the insistence that we redistribute hundreds of billions annually from rich nations to poor countries, to atone for our carbon dioxide “sins” and help poor countries cope with the ravages of climate change that we have supposedly caused.That driving force is computer models – which climate alarmists claim PROVE manmade global warming disasters are “real” … and which they insist can accurately predict the “catastrophic” future that awaits us, if we don’t change our evil ways. Drs. Soon and Khandekar offer important perspectives on what climate computer models actually can and cannot do.

Chunk It or Chuck It?:
Marita Noon

December 14, 2010
After Harry Reid announced that cap-and-trade is dead, the President has begun talking about doing the same basic legislation in "chunks"—think bits and pieces that will slip through unnoticed by a battle-weary public. The "chunk" strategy is one more attempt to go around the will of the people. Here a chunk, there a chunk, and before you know it you have cap-and-trade—or some other policy that digs deep into the taxpayers' pockets. Marita Noon writes that instead of "chunking it," President Obama and Congress should "chuck it."

APC's Efforts to Expose ICLEI Are Having an Impact:
Tom DeWeese

December 14, 2010
ICLEI is now operating in more than 600 American cities – mostly in relative secrecy. More cities are being pressured to give ICLEI control of development-policy-making. In most cases that includes creating non-elected boards, councils, and regional governments answerable to no one. City Councils and County Commissions, which should be answerable to the people, are now able to defer decision making to ICLEI bureaucrats, leaving the people without the ability to question or overturn policy. It’s the definition of a perfect “Soviet”. Yet most people had never heard of ICLEI or the power it holds over so many American communities. So, Tom DeWeese and the American Policy Center (APC) set out to change that, exposing the process and then asking Americans if they agree with such actions.

Tilting at Windmills:
Benjamin B. Phillips

December 14, 2010
Theology professor Benjamin Phillips offers factual and commonsense assessments of some of the energy choices that confront us … and may be forced upon us by a lame-duck Congress or the Environmental Protection Agency. Many people haven't even heard of Arcelor Mittal, its East Chicago, Indiana steel mill or recycled power (though they were written up in Forbes magazine two years ago). So this column will give both voters and legislators some valuable insights.

Memo to America: Don't Do Carbon Trading!:
Roger Helmer, MP

December 14, 2010
As Cancun barrels along into ever greater insanity and irrelevancy, British Member of Parliament Roger Helmer offers his insightful thoughts into why the European carbon control and trading schemes have been such a disaster – and why Americans would be insane to impose them on US consumers and taxpayers.


"It is difficult to free fools from the chains they revere." 
~ François-Marie Arouet de Voltaire