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The View from 1776 presents a framework to understand present-day issues from the viewpoint of the colonists who fought for American independence in 1776 and wrote the Constitution in 1787. Knowing and preserving those understandings, what might be called the unwritten constitution of our nation, is vital to preserving constitutional government. Without them, the bare words of the Constitution are just a Rorschach ink-blot that politicians, educators, and judges can interpret to mean anything they wish.

"We have no government armed with the power capable of contending with human passions, unbridled by morality and true religion. Our constitution is made only for a moral and religious people. It is wholly inadequate to the government of any other." John Adams, to the Officers of the First Brigade, Third Division, Massachusetts Militia, October 11, 1798.

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Sunday, July 03, 2011

Greenspan Says Fed's Monetary Policy Didn't Work

The former chairman of the Federal Reserve testifies that QE1 and QE2 did little more than debase the dollar, which temporarily boosted U.S. exports.

That’s hardly a surprise.  Keynesian economic mythology has never lived up to its pretensions.