US Debt, Visualized

            This is a fantastic resource for anyone seeking to better comrehend the financial ruin currently facing America: usdebt.kleptocracy.us

Tibor Machan on Philosophy, Knowledge and Reason

 

Implications of 3-D Printed Guns

            Inspired by the ever-increasing popularity of 3-D Printing, Cody Wilson founded Defense Distributed, a company aiming to revolutionize the firearm industry.  

 

            The organizations goals are mixed: Eventual sales of cheaply produced weapons combined with the creation of a open-sourced online community designing and sharing printable pieces in hopes of improving the individual's ability to protect themselves.

Friedman/Sowell on Freedom/Power

The High Cost of Higher Education: Is Government the Solution or Problem?

            by KEVIN CZARZASTY

            As the cost of college rises year after year, we should wonder:  What is the best way to ensure the maximum quality of services provided by universities, while minimizing ever-growing tuition?

            This and recent administrations believe that access to government loans will enable more students to attend college, earn a better living, contribute to society more productively, and in turn, everyone will presumably become better off.  However, are there unintended consequences of government providing easy credit to so many 18 year olds?

            One argument against government stimulating education is that, by enabling so many to attend college by means of debt, universities have no incentive to keep their prices down.  That is, as government provides student aid to combat high college costs, costs increase even more.  Consequently, the government provides more student aid, prices go higher, and the cycle repeats.

            Another issue created by government intervention is, if prices continue to rise while the amount of students able to attend also rises, eventually a massive student debt bubble will form�if it has not already formed.  The recent mortgage crisis saw far too many individuals receive easy credit and low interest rates to purchase homes with government assistance.  This same trend is currently threatening the higher education market.  If easy credit is continually provided to prospective students, oversaturated job markets and high monthly loan repayments will likely lead to disaster.

            Lastly, and perhaps most importantly, does allowing the government to stimulate supply of higher education dilute the value of a college degree?  When government prints more money, the money already in existence loses value because it becomes less scarce.  The same is true for college diplomas.  As government policies increase the amount of students attending universities, colleges print more and more diplomas, and the edge that comes with having a college degree becomes increasingly dull.  This is not opinion but rather economic law.  When more students get a diploma, the return on investment of a diploma diminishes.  The product becomes devalued, because it is less scarce.

            How will the education debacle end?  Will the now one trillion dollar bubble burst, or does our government have everything under control?  The future is uncertain, but we can still shape the present policies.  Perhaps we should continue allowing government to enable individuals to attend colleges that they otherwise could not afford.  On the other hand, perhaps we need to allow the free market to function.  At the end of the day, it is up to you.

            You are, after all, Free to Choose.

A Message from FTCN

Reason's Jim Epstein on Doctor Backlash to Bureaucratization

      Jim Epstein's article illustrates the unintended consequences of drowning a doctor in paperwork and government oversight.  Shouldn't doctors be free to work without debilitating chains?

Milton Friedman on Classical Liberalism

 

Izzit.org at NCEA 2013

The GOP Civil War, The Filibuster, and What May Come

            It is clear.  With the rebranding of the Republican Party comes grabs for power.  Rand Paul's now infamous filibuster
(Highlights here) and John McCain's
rebuttal is the first major example of the civil war manifesting itself.  May we have a clean fight.

Additionally, analysis from Newt Gingrich is rather telling.

Ron Paul on 2nd Amendment (1989)

 

Adam Smith on Selfishness

Michigan Government to take over Detroit?

            In the wake of the emergency that is the city of Detroit, Bloomberg reports that Governor Rick Synder declares a state takeover in the works.


If more government intervention in Detroit is the answer, should we not first consider to what extent government intervention led to the follies of Detroit?  The centralization of power has a poor track record; will Detroit continue to be yet another example?