In the last few days, the stock markets have broken all records. Obviously, we must be doing something right. But a little probing into the situation suggests that the real condition is not quite what it seems to be. Informed economists know that there is a great difference between current dollars and real dollars. At…
As if it were still celebrating Independence Day, the Dow Jones Industrial Average rose to an all-time high on July 12. The Wall Street Journal reports the 284 point surge as “the biggest one day gain in four years.” This leap took place at a time when the economy is wrestling with some nasty problems,…
The Big Three in Detroit — Ford, GM and the Chrysler complex — are demanding major cuts in employee benefits as the industry and union get ready for a new contract. This is a reversal of what has over the years been the customary procedure. Traditionally, the union made demands and in collective bargaining has…
The story of how pharmaceutical firms buy doctors to prescribe given medication would be unbelievable if it appeared in some publication with less credibility than the Bulletin of the AARP. Here’s the reported way in which a sales manager at Astra-Zeneca described the filthy operation: “There’s a big bucket of money sitting in every office….
Just about every state in the U.S. is discovering that unexpected riches are pouring into its treasury. As a consequence, they are quickly catching up with many neglected chores like bringing public roads up to date, doing the same for schools and other public buildings and even putting goodly sums away in savings accounts for…
The Wall Street Journal, almost from its beginning 125 years ago, has been one of the most highly respected dailies in the nation. As a devoted daily reader of the Journal, for at least half a century, I have increasingly come to respect the Journal for its balanced point of view. Over this long stretch…
In a decision on wage discrimination, the U.S. Supreme Court divided five to four along predictable lines. There are five conservatives and four liberals. The case involves a woman who is a supervisor at a Goodyear tire plant in Gadsden, Alabama. She is the sole female supervisor. She was paid less than the other supervisors,…
The exhaust from autos fueled by gasoline is one of the most potent air polluters in the nation. In many parts of the country, especially where agricultural products are at hand, vegetables have been displacing gasoline as fuel. But, lo and behold, it now appears that a bio-diesel plant will soon be in operation in…
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