Introduction
1. Bret Swanson, “Tyler Cowen’s Techno Slump,” Forbes, January 27, 2011.
Chapter One: Taxes Are Nothing More Than a Price Placed on Work
1. Keith Richards, Life (New York: Little, Brown and Company, 2010), 289.
2. Ibid.
3. Ibid., 102.
4. Ibid., 103.
5. Richard Verrier, “Making film deals with tax credits,” Los Angeles Times, December 26, 2013.
6. Ibid.
7. Rob Lowe, Stories I Only Tell My Friends (New York: Henry Holt, 2011), 131.
8. Verrier, “Making film deals with tax credits.”
9. Ibid.
10. Andy Kessler, “The Transportation Trustbuster,” Wall Street Journal, January 25, 2013.
11. Alexis Tsotsis, “Uber Gets $32M From Menlo Ventures, Jeff Bezos, And Goldman Sachs,” Tech Crunch, December 7, 2011, http://techcrunch.com/2011/12/07/uber-announces-32-million-in-funding/.
12. Source: Forbes 400, http://www.forbes.com/profile/jeff-bezos/.
13. Robert Bartley, The Seven Fat Years (New York: The Free Press, 1992), 142.
14. Enrico Moretti, The New Geography of Jobs (New York: Houghton Mifflin Harcourt, 2012), 60.
Chapter Two: When We Tax Corporations, We Rob Them of Their Future
1. Mary Bellis, “The Duryea Brothers—Automobile History,” About.com Inventors, http://inventors.about.com/od/dstartinventors/a/DuryeaBrothers.htm.
2. Mark Spitznagel, The Dao of Capital (Hoboken, NJ: Wiley, 2013), 178.
3. Ibid., 180.
4. Tim Reuter and Brian Tan, “The Fall and Rise of Detroit? Cartels, Cronies, and Uber Cars,” Forbes, June 5, 2013.
5. Spitznagel, 182.
6. Ibid., 181.
7. “Corporate Tax By Country,” Global Finance, http://www.gfmag.com/component/content/article/119-economic-data/12526-corporate-tax-by-country.html#axzz2qsTDvRLv.
8. Spitznagel, 185.
9. Ibid., 185–86.
10. William Friedkin, The Friedkin Connection (New York: HarperCollins, 2013), 149.
11. Ibid., 151
12. George Gilder, Wealth and Poverty (Washington, DC: Regnery Publishing, 2012), 354.
13. Merrill Matthews, “About Those Tax Breaks for Big Oil . . . ,” Wall Street Journal, April 2, 2013.
14. The Tax Foundation, State Corporate Tax Rates from 2000–2013.
15. Matthews, “About Those Tax Breaks for Big Oil . . .”
16. Ludwig von Mises, Human Action (Atlanta, GA: Foundation for Economic Education, 1998), 649.
Chapter Three: Government Spending Did Not Create the Internet, and Has Never Created a Job
1. Allan Sloan, “A plea to learn about Bezos’s personal politics,” Washington Post, August 15, 2013.
2. Kara Swisher, “New Yorker: Bezos’ Initial Google Investment Was $250K in 1998 Because ‘I Just Fell in Love With Larry and Sergey,’” October 5, 2009, All Things D, http://allthingsd.com/20091005/new-yorker-bezos-initial-google-investment-was-250000-in-1998-because-i-just-fell-in-love-with-larry-and-sergey/.
3. Ibid.
4. Julianne Pepitone and Stacy Cawley, “Facebook’s first big investor, Peter Thiel, cashes out,” CNNMoney, August 20, 2012, http://money.cnn.com/2012/08/20/technology/facebook-peter-thiel/.
5. Dawn Kawamoto, Ben Heskett, and Mike Ricciuti, “Microsoft to invest $150 million in Apple,” CNET, August 6, 1997, http://news.cnet.com/2100-1001-202143.html.
6. http://www.waymarking.com/gallery/image.aspx?f=1&guid=25aaa5cd-3321-4841-8f38-8d20b12eb62f&gid=3.
7. C. J. Maloney, Back to the Land (Hoboken, NJ: John Wiley & Sons, 2011), 2.
8. Ibid., 181.
9. Dennis Cauchon, “Federal pay ahead of private industry,” USA Today, March 8, 2010.
10. Tim Harford, “Adapt: Why Success Always Starts with Failure” (New York: Picador, 2012), 10.
11. Robert L. Bartley, The Seven Fat Years (New York: The Free Press, 1992), 142.
12. Joe Stephens and Carol D. Leonnig, “Solyndra tried to influence Energy Department, e-mails show,” Washington Post, November 16, 2011.
Chapter Four: It’s the Spending, Stupid: Budget Deficits Really Don’t Matter
1. John Balassi and Josie Cox, “Apple wows market with record $17 billion bond deal,” Reuters, April 30, 2013, http://www.reuters.com/article/2013/04/30/us-apple-debt-idUSBRE93T10B20130430.
2. John Letzing “Google makes its first debt offering,” MarketWatch, May 16, 2011, http://www.marketwatch.com/story/google-makes-its-first-debt-offering-2011-05-16.
3. List of National Debt by Country, http://www.economicshelp.org/blog/774/economics/list-of-national-debt-by-country/.
4. Niall Ferguson, “The Shutdown Is a Sideshow. Debt Is the Threat,” Wall Street Journal, October 4, 2013.
5. Mark Steyn, After America (Washington, DC: Regnery Publishing, 2012), 6.
6. Rich Cohen, “The Girls of Winter,” Vanity Fair, February 2014.
7. J. Rentilly, “This Is Spinal Tap,” American Way, March 1, 2014.
8. Erin Egan, “HOF Inductee Russell Maryland Has Plenty of Love for the U,” USA Today, July 20, 2012.
Chapter Five: Capital Gains Are the Elusive Jackpot That Drive Innovation
1. Forbes.
2. Brent Shrotenboer, “The NFL’s super plan to get even bigger,” USA Today, January 31, 2014.
3. Jim Dent, King of the Cowboys (Avon, MA: Adams Publishing, 1995), 94.
4. Ibid., 94–95.
5. Ibid., 97.
6. Ibid., 104.
7. Ibid., 98.
8. Ibid., 110.
9. Ibid., 109.
10. Keith Richards, Life (Boston: Little, Brown and Company, 2010), 289.
11. Robert L. Bartley, The Seven Fat Years (New York: Free Press, 1992), 143.
12. Dent, 98.
13. Jackie MacMullan, “Robert Kraft steady at the helm,” ESPNBoston.com, January 15, 2014, http://espn.go.com/boston/nfl/story/_/id/10295274/robert-kraft-navigated-new-england-patriots-20-years-highs-lows.
14. Forbes, http://www.forbes.com/nfl-valuations/.
15. MacMullan, “Robert Kraft steady at the helm.”
Chapter Six: The Best Way to Spread the Wealth Around Is to Abolish the Estate Tax
1. Robert Barnes, “Obama Talks to Joe the Plumber—And About Him,” Washington Post, October 22, 2008.
2. Michael Freeman, ESPN: The Uncensored History (Lanham, MD: Taylor Trade Publishing, 2000), 5.
3. Ibid., 5.
4. Ibid., 57.
5. Ibid., 7.
6. Ibid., 59.
7. Ibid., 62.
8. Famous Entrepreneurs, “J. Paul Getty,” http://www.famous-entrepreneurs.com/j-paul-getty.
9. Freeman, 49.
10. “How Steinbrenner Saved His Heirs a $600 Million Tax Bill,” Wall Street Journal, July 13, 2010.
11. Howard E. Kershner, Dividing the Wealth: Are You Getting Your Share? (Greenwich, CT: Devin-Adair, 1971), 31.
12. Warren T. Brookes, The Economy in Mind (New York: Universe Books, 1982), 69.
Chapter Seven: Wealth Inequality Is Beautiful
1. Al Neuharth, “Why Larry King still is ‘The King’ on air,” USA Today, April 19, 2007
2. Ibid.
3. Elisabeth Dunn, “From the dole to Hollywood,” Daily Telegraph, June 30, 2007.
4. Dominick Dunne, The Way We Lived Then (New York: Crown, 1999), 200, 201, 208.
5. Bernie Brillstein, Where Did I Go Right? (Beverly Hills, CA: Phoenix Books, 2008).
6. David Whitford, “Fire In His Belly,” CNNMoney, May 12, 1997.
7. Reuven Brenner, History: The Human Gamble, (Chicago: University of Chicago Press, 1983), 4.
8. Steven F. Hayward, The Age of Reagan—Part I (New York: Prima Publishing, 2001), 7.
9. Ibid.
10. Steven F. Hayward, The Age of Reagan—Part II, (New York: Crown Forum, 2009), 31.
11. Bret Swanson, “How much would an iPhone have cost in 1991?”, TechPolicyDaily.com, February 3, 2014, http://www.techpolicydaily.com/communications/much-iphone-cost-1991/.
12. Thomas Sowell, “The Inequality Bogeyman,” National Review Online, January 28, 2014, http://www.nationalreview.com/article/369586/inequality-bogeyman-thomas-sowell.
13. Richard Salsman, “Why Do Takers Like Obama And Gingrich Attack Makers Like Romney?,” Forbes.com, December 15, 2011, http://www.forbes.com/sites/richardsalsman/2011/12/15/why-do-takers-obama-and-gingrich-attack-creators-like-romney/.
14. Jason Kelly, The New Tycoons (Hoboken, NJ: Bloomberg Press, 2012).
15. Alan Reynolds, “The Truth about the 1 Percent,” National Review Online, November 11, 2013, http://www.nationalreview.com/article/363701/truth-about-1-percent-alan-reynolds.
17. Ibid.
18. Lawrence Dorr, Die Once Live Twice (Napa, CA: Silverado Books, 2011), 46.
Chapter Eight: Savers Are an Economy’s Most Valuable Benefactors
1. David Crook, “Dorothy Stratten Memorial Bankrupts Bogdanovich,” Los Angeles Times–Washington Post News Service, December 26, 1985.
2. Peter Bogdanovich, “Living Under a Paper Moon,” Wall Street Journal, January 9, 2014.
3. Crook, “Dorothy Stratten Memorial Bankrupts Bogdanovich.”
4. Zach Kruse, “Analyzing How Vince Young Went From Rookie of the Year to Roster Scrub,” Los Angeles Times, August 28, 2012.
5. Rob Demovsky, “Vince Young released by Packers,” ESPN.com, September 1, 2013, http://espn.go.com/nfl/story/_/id/9618913/vince-young-released-green-bay-packers.
6. Ruth Manuel-Logan, “Vince Young Blows Through $26 Million,” NewsOne, January 23, 2014, http://newsone.com/2847223/vince-young-bankrupt.
7. Rana Foroohar, “Janet Yellen: The 16 Trillion Dollar Woman,” Time Magazine, January 20, 2014.
8. Eric Morath, “Wages Lurk as 2014 Growth Spoiler,” Wall Street Journal, February 1–2, 2014.
9. John Stuart Mill, Principles of Political Economy (Amherst, NY: Prometheus Books, 2004), 387.
10. Tim Harford, Adapt: Why Success Always Starts With Failure (New York: Farrar, Straus and Giroux, 2011), 10.
11. Adam Smith, The Wealth of Nations (New York: Modern Library), 374.
12. Foroohar, “Janet Yellen: The 16 Trillion Dollar Woman.”
13. Howard E. Kershner, Dividing the Wealth: Are You Getting Your Share? (Old Greenwich, CT: Devin-Adair Company, 1971), 32.
Chapter Nine: Job Creation Requires Perpetual Job Destruction
1. Sally Denton and Roger Morris, The Money and the Power (New York: Alfred A. Knopf, 2000), 145.
2. Denton and Morris, The Money and the Power, 8.
3. Ibid., 364.
4. John D. Gartner, The Hypomanic Edge (New York: Simon & Schuster, 2005).
5. Enrico Moretti, The New Geography of Jobs (Boston: Houghton Mifflin Harcourt Publishing, 2012), 23.
6. Alana Semuels, “Detroit’s abandoned buildings draw tourists instead of developers,” Los Angeles Times, December 25, 2013.
7. Walter Isaacson, Steve Jobs (New York: Simon & Schuster, 2011), 339.
8. Ibid., 325.
9. Ibid., 339.
10. Ibid., 339.
11. Ibid., 502.
12. Annie Lowrey, “Readers Without Borders,” Slate, July 20, 2011, http://www.slate.com/articles/business/moneybox/2011/07/readers_without_borders.html.
13. Kyle Smith, “Jesse Jackson Jr. Vs. Apple’s iPad,” Forbes.com, April 20, 2011, http://www.forbes.com/sites/kylesmith/2011/04/20/jesse-jackson-jr-vs-apples-ipad/.
14. Moretti, The New Geography of Jobs, 49.
15. Ibid., 76.
16. Ibid., 61.
17. Ibid., 61.
18. Henry Hazlitt, Economics In One Lesson (New York: Three Rivers Press, 1979), 73.
19. Mike Florio, “Carter brings Buddy Ryan and his wife into Hall of Fame with him,” NBCSports.com, August 3, 2013, http://m.nbcsports.com/content/carter-brings-buddy-ryan-and-his-wife-hall-fame-him.
20. Brian McCardle, “Cris Carter thanks Buddy Ryan and his wife, brings them into Hall of Fame with him,” Philly.com, August 4, 2013, http://www.philly.com/philly/blogs/pattisonave/Cris-Carter-brings-Buddy-Ryan-and-his-wife-into-NFL-Hall-of-Fame-with-him.html.
21. Mark Maske, “Redskins release Chris Cooley,” Washington Post, August 28, 2012.
22. Benjamin M. Anderson, Economics and the Public Welfare (Indianapolis: Liberty Press, 1979), 171.
Chapter Ten: Conclusion: Bulldoze the U.S. Tax Code
1. Post Staff Report, “Schumer takes aim at Facebook co-founder Eduardo Saverin as he proposes law to tax expats,” New York Post, May 17, 2012.
2. Mark Leibovich, This Town (New York: Blue Rider Press, 2013), 171.
Chapter Eleven: Appalachian State Almost Never Beats Michigan, and Government Regulation Almost Never Works
1. Pat Forde, “Appalachian State earns role as conquering hero,” ESPN.com, September 1, 2007, http://sports.espn.go.com/espn/columns/story?id=3001214.
2. Ibid.
3. Tommy Bowman, “Eight former Appalachian State players will begin the season on NFL rosters,” Winston-Salem Journal, September 4, 2013, http://www.journalnow.com/sports/asu/app_trail/eight-former-appalachian-state-players-will-begin-the-season-on/article_b84a2e72-1599-11e3-bf0f-001a4bcf6878.html.
4. Forde, “Appalachian State earns role as conquering hero.”
5. John Allison, The Financial Crisis and the Free Market Cure (New York: McGraw-Hill, 2013), 5.
6. Gregory Zuckerman, The Greatest Trade Ever (New York: Broadway Books, 2009), 45.
7. Ibid., 45.
8. Ibid., 233.
9. Allison, The Financial Crisis and the Free Market Cure, 31.
10. Peter J. Wallison, Bad History, Worse Policy (Washington, DC: AEI Press, 2013), 422.
11. Michael Lewis, The Big Short (London: Allen Lane, 2010), 106.
12. Zuckerman, The Greatest Trade Ever, 153.
13. Ibid., 153.
14. Lewis, The Big Short, 156.
15. Robert L. Bartley, The Seven Fat Years (New York: The Free Press, 1992), 265.
16. Thomas Adam, ed., Germany and the Americas: Culture, Politics, and History (Santa Barbara, CA: ABC CLIO, 2005), 250.
17. Michael E. Ross, “It Seemed Like a Good Idea at the Time,” U.S. News and World Report, April 22, 2005.
18. Ibid.
19. Tony and Michelle Hamer, “The Edsel: A Legacy of Failure,” www.About.com, Classic Cars, http://classiccars.about.com/od/classiccarsaz/a/Edsel.htm.
20. Warren T. Brookes, The Economy In Mind (New York: Universe Books, 1982), 153.
21. Ibid., 152.
22. T. A. Heppenheimer, Turbulent Skies (Hoboken, NJ: Wiley, 1995), 8.
23. Brookes, The Economy In Mind, 172.
24. James Ostrowski, “If Washington Hears About This . . . ,” Wall Street Journal, date unknown.
25. Brookes, The Economy In Mind, 172.
26. Clyde Wayne Crews Jr., “The 10,000 Commandments” (Washington, DC: Competitive Enterprise Institute, 2014).
27. Allison, The Financial Crisis and the Free Market Cure, 170–71.
Chapter Twelve: Antitrust Laws: The Neutering of the Near-Term Excellent
1. Wheeler Winston Dixon, Death of the Moguls: The End of Classical Hollywood, (New Brunswick, NJ: Rutgers University Press), 147.
2. David Leonhardt, “Why ‘Avatar’ Is Not the Top Grossing Film,” New York Times, March 1, 2010.
3. Robert Evans, The Kid Stays In the Picture (New York: Hyperion, 1994), 216.
4. Ibid., 218
5. Ibid., 216.
6. Marc Gunther and Bill Carter, Monday Night Mayhem (Sag Harbor, NY: Beech Tree Books, 1988), 29.
7. Ibid., 179
8. Ibid., 227.
9. Ibid., 274.
10. Steven F. Hayward, The Age of Reagan, Part II (New York: Crown Forum, 2009), 343.
11. Brett Martin, Difficult Men, (New York: The Penguin Press, 2013), 65.
12. Ibid., 239.
13. David Snow, “Facebook and the Era of Access,” PrivCap.com, May 18, 2012.
14. ProFootballReference.com: http://www.pro-football-reference.com/years/1983/draft.htm.
15. Nicholas Dawidoff, Collision Low Crossers (New York: Little, Brown and Company, 2013), 97.
16. Rick Newman, “15 Companies That Might Not Survive 2009,” U.S. News & World Report, February 6, 2009; Stephanie Clifford, “Other Retailers Find Ex-Blockbuster Stores Just Right,” New York Times, April 8, 2011.
17. Adam Thierer, “Do Regulators Read the Papers? The Blockbuster Antitrust Fiasco Revealed,” The Technology Liberation Front, April 18, 2005, http://techliberation.com/2005/04/18/do-regulators-read-the-papers-the-blockbuster-antitrust-fiasco-revisited/.
18. Mike Spector & Peter Lattman, “Hollywood Video Closes Its Doors,” Wall Street Journal, May 3, 2010.
19. Todd Leopold, “Your late fees are waived: Blockbuster closes,” CNN, November 6, 2013, http://www.cnn.com/2013/11/06/tech/gaming-gadgets/blockbuster-video-stores-impact/.
20. Ibid.
21. Charisse Jones, “American gets $425 million for slots at DCA, LaGuardia,” USA Today, March 10, 2014.
22. Tim Arango, “How the AOL–Time Warner Merger Went So Wrong,” New York Times, January 10, 2010.
23. Adam Thierer, “A Brief History of Media Merger Hysteria: From AOL/Time Warner to Comcast/NBC,” The Technology Liberation Front, December 2, 2009.
24. Tim Arango, “How the AOL-Time Warner Merger Went So Wrong,” New York Times, January 10, 2010.
25. Adam Thierer, “A Brief History of Media Merger Hysteria: From AOL/Time Warner to Comcast/NBC,” The Technology Liberation Front, December 2, 2009, http://techliberation.com/2009/12/02/a-brief-history-of-media-merger-hysteria-from-aol-time-warner-to-comcast-nbc/.
26. Tim Arango “How the AOL-Time Warner Merger Went So Wrong,” New York Times, January 10, 2010.
27. Jeff Erber, “Ignore the Pundits, Comcast/Time Warner Merger Is a Good Thing,” RealClearMarkets, February 19, 2014, http://www.realclearmarkets.com/articles/2014/02/19/ignore_the_pundits_time_warnercomcast_merger_is_a_good_thing_100910.html.
28. Henry Hazlitt, Economics In One Lesson (New York: Three Rivers Press, 1946), 105.
29. Dominick T. Armentano, Antitrust: The Case for Repeal, (Auburn, AL: Mises Institute, 1999), 40–41.
30. Ibid., 41.
31. John Tamny, “The Fatal Conceit of Anti-Trust Laws,” National Review Online, March 13, 2006, http://www.nationalreview.com/articles/217033/fatal-conceit-anti-trust-laws/john-tamny.
32. Tim Harford, Adapt: Why Success Always Starts With Failure (New York: Farrar, Straus and Giroux, 2011), 8.
Chapter Thirteen: Conclusion: Don’t Dismiss College Dropouts Delivering Alternative Weeklies
1. Andrew Ross Sorkin, “Prophecies Made In Davos Don’t Always Come True,” New York Times, January 21, 2013.
2. Rick Jervis, “How SXSW put itself on the map,” USA Today, March 7–9, 2014.
3. Mike Moraitis, “Kurt Warner’s Grocery-Store Checker to NFL MVP Story a Tale of Perseverance,” Bleacher Report, May 21, 2012, http://bleacherreport.com/articles/1190204-kurt-warners-grocery-store-checker-to-nfl-mvp-story-a-tale-of-perseverance.
4. Parmy Olson, “Exclusive: The Rags-To-Riches Tale Of How Jan Koum Built WhatsApp Into Facebook’s New $19 Billion Baby,” Forbes.com, February 19, 2014, http://www.forbes.com/sites/parmyolson/2014/02/19/exclusive-inside-story-how-jan-koum-built-whatsapp-into-facebooks-new-19-billion-baby/.
5. L. Gordon Crovitz, “A WhatsApp Message for the Feds,” Wall Street Journal, February 24, 2014.
Chapter Fourteen: “Trade Deficits” Are Our Rewards for Going to Work Each Day
1. Geoffrey Bocca, The Moscow Scene (New York: Stein and Day, 1976), 36.
2. Ibid., 37.
3. Ibid., 39.
4. Hedrick Smith, The Russians (New York: Ballantine, 1976), 83.
5. Ibid., 250–51.
6. Ibid., 696.
7. Ibid., 622.
8. Mary Anastasia O’Grady, “Costa Rica’s Tough Unions Make It a Cafta Holdout,” Wall Street Journal, July 15, 2005.
9. Ibid.
10. Donald Boudreaux, Globalization (Santa Barbara, CA: Greenwood Press, 2008), 15.
11. Ken Auletta, The Streets Were Paved with Gold (New York: Random House, 1975), xii.
12. Robert L. Bartley, The Seven Fat Years (New York: Free Press, 1992), 54.
Chapter Fifteen: Comparative Advantage: Could LeBron James Play in the NFL?
1. Bill Barnwell, “Could LeBron James Really Play in the NFL?,” Grantland.com, August 5, 2013, http://grantland.com/features/bill-barnwell-examines-lebron-james-possibility-success-nfl/.
2. John Clayton, “Two positions in transition,” ESPN.com, June 20, 2013, http://espn.go.com/nfl/story/_/id/9407254/nfl-fullback-tight-end-positions-transition?src=mobile.
3. NBA Player Salaries, 2014–2015, National Basketball Association, ESPN, http://espn.go.com/nba/salaries.
4. Spotrac, http://www.spotrac.com/rankings/nfl/tight-end/.
5. Badenhausen.
6. Monte Burke, “Average Player Salaries in the Four Major American Sports Leagues,” Forbes.com, December 7, 2012, http://www.forbes.com/sites/monteburke/2012/12/07/average-player-salaries-in-the-four-major-american-sports-leagues/.
7. Ryan Rosenblatt, “Tony Gonzalez Contract: Tight-end’s 2-year deal worth $14 million, according to report.” SB Nation, March 15, 2013, http://www.sbnation.com/nfl/2013/3/15/4108754/tony-gonzalez-contract-atlanta-falcons.
8. “Michael Jordan: The Stats,” InfoPlease, http://www.infoplease.com/ipsa/A0779388.html.
9. Walter Isaacson, Steve Jobs (New York: Simon & Schuster, 2011), 62.
10. Ibid., 85.
11. Ibid., 102–3.
12. Ibid., 397.
Chapter Sixteen: “Outsourcing” Is Great for Workers, and as Old as the Pencil
1. Johan Norberg, “The Noble Feat of Nike,” YaleGlobal Online, June 13, 2003, http://yaleglobal.yale.edu/content/noble-feat-nike.
2. Ibid.
3. Enrico Moretti, The New Geography of Jobs (Boston, MA: Houghton Mifflin Harcourt, 2012), 10.
4. Robyn Meredith, The Elephant and the Dragon (New York: Norton, 2007), 59.
5. Moretti, The New Geography of Jobs, 11.
6. Ibid., 60.
7. Ibid., 122.
8. Ibid., 85.
Chapter Seventeen: “Energy Independence” Would Be Economically Crippling; “Global Warming” Is a Crippling Theory
1. Daniel Estrin, “Could Israel be another Middle East oil giant?” BBC News, September 30, 2011, http://www.bbc.com/news/magazine-15037533.
2. Warren T. Brookes, The Economy In Mind (New York: Universe Books, 1982), 97.
3. John Tamny, “Is There An Oil Story Behind the Iranian Elections?” RealClearPolitics, June 17, 2009, http://www.realclearpolitics.com/articles/2009/06/17/is_there_an_oil_story_behind_the_iranian_elections_97040.html.
4. Benjamin M. Anderson, Economics and the Public Welfare (Indianapolis: Liberty Press, 1949), 37.
5. Thomas K. McCraw, Prophet of Innovation (Cambridge, MA: Belknap Harvard, 2007), 329.
6. Jerry Taylor and Peter Van Doren, “Oil Weapon Myth,” Cato Institute, December 5, 2001, http://www.cato.org/publications/commentary/oil-weapon-myth.
7. Robert L. Bartley, The Seven Fat Years (New York: Free Press, 1992), 32.
8. Mark Perry, “Exxon Paid Almost $1M Per Hour in Income Taxes and Its Effective Tax Rate Was 42.3%,” Carpe Diem Blog, April 28, 2011, http://mjperry.blogspot.com/2011/04/exxonmobil-paid-almost-1m-per-hr-in.html.
9. Dan Senor and Saul Singer, Start-Up Nation, (New York: Twelve, 2009), 11.
10. John Tamny, “Oil, the Dollar and Comparative Advantage,” Investor’s Business Daily, July 16, 2008, http://news.investors.com/071608-487382-oil-the-dollar-and-comparative-advantage.htm?p=2.
11. Perry.
12. Ibid.
13. Merrill Matthews, “About Those Tax Breaks for Big Oil . . . ,” Wall Street Journal, April 2, 2013, http://online.wsj.com/news/articles/SB10001424127887324789504578380684292877300.
14. Peter Maass, Crude World: The Violent Twilight of Oil (New York: Vintage Books, 2010), 134.
Chapter Eighteen: Conclusion: Free Trade Is the Path to Knowledge, Liberty, World Peace, and Big Raises
1. Grant Achatz and Nick Kokonas, Life, On the Line (New York: Gotham Books, 2011), 287.
2. Ibid., 257.
3. Ibid., 23.
4. Ibid., 102.
5. Ibid., 103.
6. Ibid., 103.
7. Tim Reuter, “How American Expatriates In Paris Built The United States”, Forbes.com, January 24, 2014, http://www.forbes.com/sites/timreuter/2014/01/24/how-american-expatriates-in-paris-built-the-united-states/.
Chapter Nineteen: A Floating Foot, Minute, and Second Would Give You Ugly Houses, Burnt Wings, and Slow NFL Draft Picks
1. Joshua David Stein, “Where the Best Wings Roam,” Wall Street Journal, February 1–2, 2014.
2. Adam Smith, The Wealth of Nations (New York: Modern Library, 2013), 370.
3. John Stuart Mill, Principles of Political Economy (Amherst, NY: Prometheus Books, 2004), 457.
4. Ibid., 459.
5. Nathan Lewis, Gold: The Monetary Polaris (New Berlin, NY: Canyon Maple Publishing, 2013), 5.
6. Ibid., 5.
7. Robert L. Bartley, The Seven Fat Years (New York: Free Press, 1992), 108.
8. Craig Karmin, Biography of the Dollar (New York: Crown Business, 2008), 19.
9. Ibid., 39.
10. Ibid., 39–40.
11. Ibid., 40.
12. Steve Forbes, “Powerful Antiterror Weapon,” Forbes, October 6, 2006, http://www.forbes.com/global/2006/1016/015.html.
13. John Tamny, “Futures Shock,” TCS Daily, May 11, 2007, http://www.ideasinactiontv.com/tcs_daily/2007/05/futures-shock-1.html.
14. Douglas Irwin, Free Trade Under Fire (Princeton, NJ: Princeton University Press, 2002), 18.
Chapter Twenty: Do Not Be Fooled by Rising and Falling Computer, Flat Screen, and VHS Prices: They Are Not an Inflation or Deflation Signal
1. George Gilder, Knowledge and Power (Washington, DC: Regnery Publishing, 2013), 25.
2. Damon Darlin, “Falling Costs of Big-Screen TV’s to Keep Falling,” New York Times, August 20, 2005, http://www.nytimes.com/2005/08/20/technology/20tvprices.html?pagewanted=print&_r=0.
3. BestBuy.com. http://www.bestbuy.com/site/50-class-49-1-2-diag-led-1080p-120hz-hdtv/8976104.p;jsessionid=8E4458DE9969C1CA49AF6869DA963B5B.bbolsp-app01-132?id=1218960138258&skuId=8976104&st=flat%20screen%20tv&cp=1&lp=11.
4. Steven F. Hayward, The Age of Reagan: Part II (New York: Crown Forum, 2009), 31.
5. John Stuart Mill, Principles of Political Economy (Amherst, NY: Prometheus Books), 40.
6. Stephen Smith, “Super Bowl ticket prices: A historical look,” CBS NEWS.com, February 3, 2012, http://www.cbsnews.com/news/super-bowl-ticket-prices-a-historical-look/.
7. Chris Isidore, “Super Bowl ticket prices heat up,” CNNMoney.com, February 2, 2014, http://money.cnn.com/2014/01/31/news/economy/super-bowl-tickets/.
8. John Tamny, “Globalization and Inflation,” The American Spectator, March 6, 2007, http://spectator.org/articles/45710/globalization-and-inflation.
9. Rachel Ziemba, “The G-20’s Crowded Agenda,” RGE Monitor, September 23, 2009, http://www.economonitor.com/analysts/2009/09/23/rge-monitor-the-g20s-crowded-agenda/.
10. Alan Greenspan, The Age of Turbulence (New York: Penguin Press, 2007), 384.
11. John Tamny, “The Phillips Curve Is Dead, Except at the Fed,” RealClearMarkets, September 16, 2008, http://www.realclearmarkets.com/articles/2008/09/phillips_curve_is_dead_except.html.
12. Greenspan, The Age of Turbulence, 103.
13. Tamny, “The Phillips Curve Is Dead, Except at the Fed.”
14. David Muir, James Wang & Maggy Patrick, “Unemployed Flock to North Dakota; What’s Their Secret?”, ABCNews.com, October 19, 2011, http://abcnews.go.com/US/unemployed-flock-north-dakota-advantage-job-boom/story?id=14772915.
15. A. S., “Texas, Here We Come”, The Economist, June 16, 2010, http://www.economist.com/blogs/freeexchange/2010/06/migration.
16. Sheyna Steiner, “Is Inflation Higher Than You Think?” Bankrate.com, http://www.bankrate.com/finance/personal-finance/is-inflation-higher-than-you-think-1.aspx.
17. John Tamny, “The True Meaning of Inflation”, Forbes.com, January 25, 2010, http://www.forbes.com/2010/01/24/inflation-prices-gold-standard-opinions-columnists-john-tamny.html.
18. John Tamny, “‘Low’ U.S. Inflation Is a Function of Clever Calculation”, RealClearMarkets, February 1, 2011, http://www.realclearmarkets.com/articles/2011/02/01/low_us_inflation_a_function_of_clever_calculation_98847.html.
19. Kitco.com. http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx.
Chapter Twenty-One: True Inflation Is Currency Devaluation, and It Is a Cruel Blast to the Past
1. New York Post, “Super Bowl Ad Rates: Rates for a 30-second commercial,” January 25, 2014.
2. Kitco, http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx.
3. Manuel H. Johnson and Robert Keleher, Monetary Policy: A Market Price Approach (Westport, CT: Quorum Books, 1996),
4. Robert L. Bartley, The Seven Fat Years (New York: Free Press, 1992), 33.
5. Allen J. Matusow, Nixon’s Economy: Booms, Busts, Dollars, and Votes (Lawrence, KS: University of Kansas Press, 1998).
6. Ronald I. McKinnon and Kenicho Ohno, Dollar and Yen: Resolving Economic Conflict Between the U.S. and Japan (Cambridge, MA: MIT Press, 1997), 15.
7. Kitco.
8. Ibid.
9. Bartley, The Seven Fat Years, 108.
10. Warren T. Brookes, The Economy In Mind (New York: Universe Books, 1982), 96.
11. Bartley, The Seven Fat Years, 67.
12. Ibid., 143.
13. David Frum, How We Got Here (New York: Basic Books, 2000),
14. George Gilder, Wealth and Poverty (Washington, DC: Regnery Publishing, 2012), 241–42.
15. H. G. Bissinger, Friday Night Lights (Cambridge, MA: Da Capo Press, 2000),
16. Bartley, The Seven Fat Years, 109.
17. Steve Forbes, “Powerful Antiterror Weapon,” Forbes, October 6, 2006, http://www.forbes.com/global/2006/1016/015.html.
18. John Tamny, “Gold’s Plunge Is Cause for Optimism,” Wall Street Journal, April 18, 2013, http://online.wsj.com/news/articles/SB10001424127887324485004578427271772508456.
19. Steven F. Hayward, The Age of Reagan: Part II (New York: Crown Forum, 2009), 634.
20. Charles Kadlec, “The Dangerous Myth About The Bill Clinton Tax Increase,” Forbes.com, July 16, 2012, http://www.forbes.com/sites/charleskadlec/2012/07/16/the-dangerous-myth-about-the-bill-clinton-tax-increase/.
21. Miller Center, “Clinton Signs NAFTA, December 8, 1993,” University of Virginia, http://millercenter.org/president/events/12_08.
22. McKinnon and Ohno, Dollar and Yen: Resolving Economic Conflict Between the U.S. and Japan, 228.
23. Lawrence A. Kudlow, American Abundance: The New Economic and Moral Prosperity (New York: Forbes/American Heritage Custom Publishing, 1997), 42.
24. Nathan Lewis, “The Correlation Between the Gold Standard and Stupendous Growth Is Very Clear,” Forbes.com, April 11, 2013, http://www.forbes.com/sites/nathan-lewis/2013/04/11/the-correlation-between-the-gold-standard-and-stupendous-growth-is-clear/.
25. Tamny, “Gold’s Plunge Is Cause for Optimism.”
26. Quin Hillyer, “Catch a Falling Dollar!”, The American Spectator, November 27, 2007, http://spectator.org/articles/44470/catch-falling-dollar.
27. Source: Kitco.
28. Source: Bloomberg.
29. Kevin Johnson, “States battle rise in copper thefts,” USA Today, October 30, 2007.
30. Ibid.
31. Ken Dilanian, “Ohio Dem wants to overturn Treasury ban on melting coins,” USA Today, November 1, 2007.
32. Michael Tsang and Darren Boey, “Oil Producers Mask Decade’s Worst S&P 500 Profit Drop,” Bloomberg, May 19, 2008, http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aB50jeKPl7gE.
33. Joe Richter, “Harvard Losing Out to South Dakota In Graduate Pay: Commodities,” Bloomberg, September 19, 2012, http://www.bloomberg.com/news/2012-09-17/harvard-losing-out-to-south-dakota-in-graduate-pay-commodities.html.
34. Adam Smith, The Wealth of Nations (New York: Modern Library, 1937), 305.
35. John Allison, The Financial Crisis and the Free Market Cure (New York: McGraw-Hill, 2013), 5.
36. Peter J. Wallison, Bad History, Worse Policy (Washington, DC: AEI Press, 2013), 260.
37. Gregory Zuckerman, The Greatest Trade Ever (New York: Broadway Books, 2009), 45.
38. Ibid., 107.
39. Gilder, Wealth and Poverty, 241–42.
40. John D. Gartner, The Hypomanic Edge (New York: Simon & Schuster, 2005), 12.
41. Nigel Lawson, The View From No. 11 (New York: Doubleday, 1993).
42. Adam Fergusson, When Money Dies (New York: Public Affairs, 1975), 109.
43. David Smith, The Rise and Fall of Monetarism (Harmondsworth, Middlesex: Pelican, 1987).
44. Ibid.
45. William Greider, Secrets of the Temple (New York: Simon & Schuster, 1989).
Chapter Twenty-two: If They Tell You They Predicted the “Financial Crisis,” They’re Lying
1. Ross Douthat, “Emotional Rescue,” National Review, November 12, 2012, https://www.nationalreview.com/nrd/articles/331659/emotional-rescue.
2. Andrew Ross Sorkin, Too Big To Fail (New York: Viking, 2009), 443.
3. Howard E. Kershner, Dividing the Wealth (Old Greenwich, CT: Devin-Adair Company, 1971), 133.
4. Ibid., 133–34
5. Thomas E. Woods, Meltdown: A Free Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse (Washington, DC: Regnery, 2009).
6. John Tamny, “Blame the Media For Bush’s Low Economic Ratings?” National ReviewOnline, June 12, 2006, http://www.nationalreview.com/articles/217906/blame-media-bushs-low-economic-ratings/john-tamny.
7. John Tamny, “Misplaced Hand Wringing Over Housing,” TCS Daily, October 30, 2007, http://www.ideasinactiontv.com/tcs_daily/2007/10/misplaced-hand-wringing-over-housing.html.
8. Michael Lewis, The Big Short (New York: Allen Lane, 2010), 65.
9. Tunku Varadarajan, “‘Nationalize’ the Banks,” Wall Street Journal, February 21, 2009.
10. John Stuart Mill, Principles of Political Economy (Amherst, NY: Prometheus Books, 2004), 98.
11. Ibid., 132
Chapter Twenty-Three: Conclusion: “Do-Nothing” Politicians Deserve a Special Place in Heaven
1. John Tamny and Richard Vedder, “The Role of Labor Policy,” Council On Foreign Relations, http://www.cfr.org/united-states/role-labor-policy/p18983.
2. Benjamin M. Anderson, Economics and the Public Welfare (Indianapolis: Liberty Press, 1949), 92.
3. Ibid., 92.
4. Ibid., 366.
5. Ibid., 372
6. Amity Shlaes, The Forgotten Man: A New History of the Great Depression (New York: Harper Perennial, 2008).
7. Transcript, “President George W. Bush’s speech to the nation on the economic crisis,” http://www.nytimes.com/2008/09/24/business/economy/24text-bush.html?pagewanted=all&_r=0.
8. Albert Jay Nock, Our Enemy, The State (Caldwell, ID: The Caxton Printers, 1935), 197.
9. Barack Obama’s 2009 State of the Union Speech, http://www.cnn.com/2010/POLITICS/01/27/sotu.transcript/.
10. Nock, Our Enemy, The State, 151.