King Abdullah’s reign in Saudi Arabia has come to an end with his death at age 90. Abdullah became king in 2005, but his rule truly began in 1996, when, as crown prince, he became King Fahd’s regent. Effectively, he was in power for nearly 20 years. It can often be difficult to judge the legacies of democratically elected leaders. Their short terms in office make it difficult to distinguish the effects of their administrations from those who precede and follow them. By contrast, autocratic rulers not only typically rule for far longer, but they also have much greater personal influence over the policies that emerge during their reigns. For these reasons, when a long-serving autocrat passes the torch, it is an interesting and useful exercise to have a look at how much better or worse off their country is now than it was when they rose to power. In March 2013, I ran a similar piece about Hugo Chavez’ 14-year reign. So let’s look at Abdullah’s legacy.
Category: Economics
Concerning the nature of man and the economic system, and how best the latter can be structured to augment the former.
Ted Cruz is Wrong about Net Neutrality
Yesterday, US President Barack Obama came out in favor of net neutrality, urging the FCC to classify the internet as a utility for regulatory purposes:
Immediately thereafter, Senator Ted Cruz (R-TX) came out against net neutrality, tweeting:
“Net Neutrality” is Obamacare for the Internet; the Internet should not operate at the speed of government.
This analogy between net neutrality and Obamacare does not work on any level and is deeply misleading. Here’s why.
Misconceptions: “Minimum Wage Jobs Aren’t Supposed to be Careers”
The other day, I saw one of my Facebook friends post this image:

The claim that minimum wage jobs aren’t supposed to be careers, and that consequently any adult who still has one deserves a wage that cannot be lived on, is dangerously misleading. Here’s why.
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American Voters are Completely Out of Touch With Economic Experts
I recently ran across a remarkable survey of prominent US economists on the American Recovery and Reinvestment Act, the stimulus package Obama passed at the beginning of his presidency. The results are striking for two reasons–they show a clear consensus among economists that the stimulus was a success, and they completely contradict popular opinion.
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Hillary Clinton’s Problems Go Far Beyond Being “Out of Touch”
Hillary Clinton has been getting reamed for being “out of touch” for comments she made regarding the Clinton family’s wealth. The Clintons earned $109 million during their first 7 years out of office (for an average annual income of $15.5 million), but she nonetheless claimed that the Clinton family was “dead broke”and in debt when it left the White House in 2001, and that the Clintons are not truly “well off“. While Clinton badly misses the mark here, what’s far more disturbing is the role her husband’s administration played in enriching people like them at the eventual expense of the wider population.
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