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May 24,
2006
Vol. 2, No.
9
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Also in
this issue:
Tracking bags at
McCarran via RFID
Laborers' union drops
AFL-CIO for rivals
Ed schools not preparing teachers to teach
reading
States not meeting teacher provisions of NCLB
Fed chairman
admits a 'lapse'
U.S. corporate income tax
now world's highest
Pixar's magic man
Commentary:
Prevailing wage as
a union practical joke
The myth of functional finance: Mises vs. Lerner
The market fears
the Fed, not inflation
The myth of gas-gouging
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Recently
from NPRI:
You’re not dreaming
Nevada businesses are being set up for a big new
hit
YOU'VE GOT THIS recurring nightmare.
You have a zillion things to do, but
nevertheless find yourself stuck out in the
middle of heavy traffic.
You know it’s dangerous. You’re carrying scars
from earlier collisions.
But now, once again, hurtling at you are a
couple of big new rigs. And the drivers clearly
intend you harm.
[continued] |
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Unions
Prevailing wage as a union practical joke
By David Denholm
Public Service
Research Foundation
THERE'S A STORY that the Irish invented the
bagpipe to keep wolves away from their flocks
and then as a practical joke told the Scots it
was a musical instrument.
Immigrants seeking work might feel the same way
about the provision in the immigration reform
bill in the Senate, S. 2611, mandating
prevailing wages for newly documented (H-2C)
immigrant workers.
[continued]
Keynesianism
The myth of functional finance: Mises vs. Lerner
By D.W. MacKenzie
Mises Institute
Those familiar
with the history of twentieth 20th-century
economic thought know of the dominance of
"Keynesian economics" following the Second World
War. While John Maynard Keynes typically
receives credit for transforming economics, much
postwar Keynesian economics was actually
developed by his interpreters and followers.
Perhaps the single most important one of these
followers was the Romanian born economist Abba P
Lerner.
[continued]
The Fed
The market fears the Fed, not inflation
By Bill Fleckenstein
MSM Moneyl
Though the
inflation genie has been out of the bottle for
quite some time, it took last Wednesday's
consumer-price-index results -- which were
reported at 0.3% instead of 0.2%, excluding the
bad stuff -- to finally get people's attention.
(The wake-up call was not without pain --
witness the bruising that day.)
When one-tenth matters
Before delving into the subject, let me first
note how completely absurd it is to get upset
about one-tenth of a percent -- especially about
a number that's nearly fictional (thanks to
hedonics and substitution) and radically
understated in the first place.)
[continued]
Ignorance
The myth of
gas-gouging
Editorial
Wall Street Journal
We're beginning to
wonder how many times Congress is going to call for an
investigation into gasoline "price gouging" -- and how
many times the Federal Trade Commission is going to
report none exists -- before that august body begins to
grasp the basics of supply and demand.
Yesterday FTC Chairman Deborah Platt Majoras testified
to the Senate about her agency's latest non-findings of
price manipulation.
[continued] These articles will be available to
non-subscribers of the Online Journal for up to
seven days after being e-mailed.
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WHY
BusinessNevada
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Government
A class apart
State
tax officials insist
they are above the law ’
By Steven Miller
BusinessNevada
Following the
G-Sting and other recent Nevada scandals, some in
the state’s political establishment are trying to tamp
down suspicions that corruption in the Silver State
could be deep and systemic.
“You’ll notice that you won’t read about the guys at the
top of the [political] game involved in the current
[G-Sting] scandals,” former gubernatorial aide and
longtime political insider Pete Ernaut told a Las
Vegas Sun reporter earlier this month.
It takes world-class audacity to argue that when three
of seven Clark County Commissioners get caught taking
payoffs from a skin-joint sleazoid, it’s proof of
effective “self-policing” inside the state’s political
establishment. But that’s the way Ernaut wants it seen.
No wonder he and the establishment’s other R&R
operatives get the big bucks. In the old days the line
would simply have been: “So who are you going to
believe—me or your own lying eyes?”
If
you trust your eyeballs, you might want to use them on a
recent Nevada court decision posted on the
BusinessNevada website. These official findings of a
respected Northern Nevada district court judge suggest
that suspicions about the integrity of state tax
agencies are, indeed, well founded—and have been for
decades.
[continued]
Technology
Tracking bags at
McCarran via RFID
By Arnold M. Knightly
Las Vegas
Business Press
Symbol Technologies
executives have been spending a lot of time in
Las Vegas over the past couple of years because the New
York-based company is contracted to supply 100 million
radio frequency identification (RFID) tags to McCarran
International Airport during an initial five-year, $25
million contract.
[continued]
Unions
Laborers' union drops AFL-CIO for rivals
By Will Lester
Associated
Press
The Laborers' Union,
which represents 700,000 workers in the construction
industry, has decided to leave the AFL-CIO, officials
said.
The Laborers were already part of the Change to Win
coalition, breakaway unions that have left the giant
federation of more than 50 unions in an effort to forge
a new direction for organized labor. But the Laborers
had remained in the federation.
[continued]
Teaching teaching
Ed schools
not preparing teachers to teach reading
By Kathleen Kennedy Manzo
Education Week
Most of
the nation’s colleges of education are doing an
inadequate job of preparing aspiring elementary teachers
for what is often characterized as their most important
task: teaching children to read, a report by a
Washington-based advocacy and research organization
concludes.
[continued]
The money chase
States not meeting teacher provisions of No Child Left
Behind
Some face loss of
federal funds
By Bess Keller
EdWeek
No state is
expected to meet the looming deadline for putting a
“highly qualified” teacher in every core-subject
classroom, federal officials confirmed last week.
Nine states, along with Puerto Rico and the District of
Columbia, face losing federal money because of
foot-dragging, the officials said. But those
jurisdictions could also get off with agreeing to
changes in the way they have been defining or tallying
teachers’ status under the No Child Left Behind Act.
[continued]
Loose lips
Fed
chairman admits a 'lapse'
Confronted on Bartiromo
report
By Chris Isidore
CNNMoney.com
Federal Reserve
Chairman
Ben Bernanke admitted Tuesday to Congress that he made a
mistake talking to a television reporter about market
perception of his inflation-fighting credentials.
[continued]
Millstones
U.S. corporate income tax now world's highest
By Scott Hodge, Chris Atkins
The Tax Foundation
In the Tax Reform Act of 1986 (TRA’86) the U.S. Congress lowered the
top corporate income tax rate from 46 percent to 34
percent, the largest reduction since the tax was enacted
in 1909.
This change, along with an earlier move in the
United Kingdom, started a wave of corporate income tax
reduction worldwide. But today the U.S. has the highest
combined statutory corporate income tax rate among OECD
countries.
[continued]
The Web
Pixar's magic man
Fired as a young man from Disney, John Lasseter returns
to bring its famed animation division back to life.
By Brent Schlender
Fortune Magazine
Here's the scene:
It's 3 P.M., Wednesday, Jan. 25, in Sound Stage 7 on the
studio lot of Walt Disney Co. in Burbank. Five hundred
cartoon people - artists, producers, voice artists, etc.
- are jammed into the warehouse-like building, murmuring
and fidgeting in anticipation.
[continued]
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