Hennessy's View

Domine, non sum dignus

The Big Short

The Big Short: Inside the Doomsday Machine by Michael Lewis My rating: 5 of 5 stars Capitalists are like children and free marketers are like their parents. If the free marketers neglect their duties to feed, protect, teach, and discipline capitalists, some well-meaning but inept government agency will impose itself into the parenting role, destroying the lives of everyone involved and wasting trillions of tax dollars (borrowed from future generations) in the process. Read more →

The Real Story of Thanksgiving

Thanksgiving celebrates the Pilgrims’ break from socialism. Schools and textbooks avoid the topic, but it’s worth remembering. The Plymouth and Jamestown plantations were dying under “common store” approach. Only by establishing a free market did the settlers thrive. Here’s the beginning of Kent Dillon’s excellent story of Thanksgiving, which you can continue reading in its entirety at The Mises Institute: By Kent Dillon The celebration of Thanksgiving is a celebration of plenty and appreciation of the abundance that has characterized the free enterprise, individualistic, capitalistic systems of the US. Read more →

Jonah Goldberg Perfectly Defines the GOP Establishment

I hope you read Jonah Goldberg’s short article on National Review Online last week. If not, you missed the best definition of Establishment Republicans EVER! Goldberg’s piece also exploded the myth of “pro-business” way too many conservatives believe. Conservatism isn’t pro-business, it’s pro-market. I’ll let Jonah explain: Just to clarify, the difference between being pro-business and pro-market is categorical. A politician who is a “friend of business” is exactly that, a guy who does favors for his friends. Read more →

NYTimes: Cubans Find Freedom Fun

Since mass murderer Fidel Castro fired thousands of Cuban government workers due to the economic unviability of Obamanomics, those set free are enjoying their independence. To the shock of the New York Times: “I feel useful; I’m independent,” said Ms. Álvarez, who opened a small cafe in November at her home in this scruffy town 25 miles from the capital, Havana. “When you sit down at the end of the day and look at how much you have made, you feel satisfied. Read more →

What We Learned from Milton Friedman

I am a big fan of Milton Friedman. I’m also becoming a big fan of Creating Shared Value. Some believe the two values are inconsistent, but I disagree. In 2005, Reason Magazine posted an online debate between Friedman and Whole Foods Market CEO John Mackey. The debate coincided with the 35th anniversary of Friedmans’ famous The New York Times Magazine article entitled: : “The Social Responsibility of Business Is to Increase Its Profits. Read more →