Richard W. Rahn

RICHARD RAHN: The recession of 2016

There will be a recession in the United States and much of the rest of the world in 2016. After reading the above sentence, you should be thinking, what possibly could the writer know that the International Monetary Fund, the Federal Reserve and the Obama administration do not know given all their resources and all of their professional economic forecasters?

January 18, 2016

RICHARD RAHN: Debate must cover governing philosophy

Do you know what type of person the various presidential candidates would appoint to the Supreme Court? The next president is likely to be able to pick several Supreme Court justices, and those decisions will influence the direction of the American republic for decades in the future.

January 11, 2016

RICHAD RAHN: Tax follies for 2016

If McDonald's suddenly cuts the price of its French fries in half, would its store profits fall or rise? If the price cut caused more people to come to its stores and spend more on other items, such as Big Macs, revenues and profits might rise, provided that competitors do not cut their prices in response.

January 4, 2016

RICHARD RAHN: A rational forecast for 2016

The economist and philosopher F.A. Hayek warned us about the limits to knowledge and forecasting. What we do know, however, based on past behavior is that some future events have a much higher probability of occurring than others.

December 28, 2015

RICHARD RAHN: Peace, prosperity reign where there is tolerance

Why do billions of people, Christians and non-Christians alike, look forward to Christmas? It is a holiday that makes almost all children, and most adults, happy. Globally, it has evolved into a non-threatening holiday that non-Christians can embrace with good cheer. Merchants of all faiths love it because it means more sales. And it is a joyful holiday that promotes peace and good will toward others.

December 21, 2015

RICHARD RAHN: Life, liberty and the killer state

The chance of dying in a terrorist attack in any year in the United States is less than one in a million (even including the terrible attack of the approximately 3,000 killed on Sept. 11, 2001). Many in the media over-hype the chances of dying in a terrorist attack while at the same time underestimating the number of potential terrorists and terrorist cells among us. At times like these, it is important to be rational about relative risks and prudent in mitigating them.

December 14, 2015

RICHARD RAHN: Public trust declines when experts lie

When you hear politicians speak (the president or members of Congress) and they tell you that the science or facts are settled, do you tend to believe them or treat their comments with skepticism? Those who survey such things show that faith in government and politicians has fallen to record lows. But many other professions have also seen a decline in public trust.

December 7, 2015

RICHARD RAHN: Saving Honduras

Tegucigalpa, Honduras -- Why has Honduras lagged behind its neighbors and much of the rest of the world? It is resource-rich, has deep-water ports both on the Caribbean Sea and the Pacific Ocean, is very scenic and, because of its mountain terrain, has sub-climates that meet most people's preferences.

November 30, 2015

RICHARD RAHN: People living richer, healthier lives

Your Thanksgiving dinner is going to be less expensive. This year the average person will need to work 2 hours, 21 minutes and 57 seconds to pay for all the items in a standard Thanksgiving dinner for 10 people -- a work reduction of one minute and 8 seconds from last year.

November 23, 2015

RICHARD RAHN: Government holds down interest rates

Do not expect to get a higher real rate of interest on your savings -- ever. Traditionally, people could expect to receive 2 or 3 percent more than the rate of inflation on their savings or money market accounts. For instance, if inflation was 2 percent, many people received 5 percent interest per year on their government-insured savings accounts.

November 16, 2015

RICHARD RAHN: The global taxers are after you

Are you aware that the American government has been slowly giving away its power to international bureaucrats to determine how its businesses and citizens are taxed?

November 9, 2015

RICHARD RAHN: Forsaking free markets endangers civil, personal liberties

There was good news for Argentina last week. It was expected that Daniel Scioli, the Peronist candidate and political heir of Cristina Fernandez de Kirchner, would win the presidential election. Much to most people's surprise, Maurico Macri, the more free-market-oriented mayor of Buenos Aires, won almost as many votes as Mr. Scioli, forcing a runoff, which Mr. Macri has a good chance to win.

November 2, 2015

RICHARD RAHN: Saving Puerto Rico

Ultimately, if you continue to spend more than you take in -- whether you are an individual, business or government -- there will be a day of reckoning. Puerto Rico is likely to reach that day by Dec. 1.

October 26, 2015

RICHARD RAHN: Regulators destroying the economy in order to save it

If one phrase encapsulated the Vietnam War, it was this: "We had to destroy the village in order to save it." Those in the political class in Washington have learned nothing, but perhaps more accurately, many don't care if their policy proposals and actions cause more misery than benefit.

October 19, 2015

RICHARD RAHN: Hillary Clinton’s faulty economic proposals

If Hillary Clinton were to be elected president, what economic policies would she propose and what would be the effect on the economy? To try to get an answer, I have looked at her statements, her campaign website, and her Senate record.

October 12, 2015

RICHARD RAHN: The real victims of endless financial regulations

Grand Cayman -- Government is supposed to make life better for people -- particularly the poor -- but the U.S. and European governments are increasing the misery of the poor.

October 5, 2015

RICHARD RAHN: Global tax bullies

Are you aware that there is an international effort to increase taxes, including those paid by Americans?

September 28, 2015

RICHARD RAHN: Why Estonia is a country for the future

Estonia is arguably the most advanced country in the world when it comes to use of the Internet and related technologies. Estonia is a most improbable success, in that a mere quarter of a century ago it was still under domination of the Soviet Union as a very poor backwater on the Baltic Sea.

September 21, 2015

RICHARD RAHN: Switzerland is a nation worth emulating

Zurich, Switzerland -- When you think of Switzerland what comes to mind? Beautiful lakes surrounded by the Alps; a rich country with happy people; the home of milk chocolate, expensive watches and discrete bankers; a peaceful country that has not been at war in more than two centuries?

September 14, 2015