December 7, 2014 My recent column expressing sympathy for Michael Brown’s family and questioning the action of the police in Ferguson had a rare accomplishment. It irritated the entire political spectrum – liberal, moderate and conservative. Many readers pointed out that Brown’s crime was not jaywalking (as I stated) but stealing cigars and resisting arrest. My contention – which I still hold – is that Brown’s jaywalking was what originally began the confrontation and that this should not have escalated into an event where a young unarmed man dies. Another similar event happened in Staten Island. Here a physically imposing black male, Eric Garner, was selling cigarettes illegally. When the cops confronted him, he became belligerent and hostile. When the cops attempted to arrest him, he resisted arrest – another crime. Thus, the cops were forced to subdue him and unfortunately, during this process, he died. Garner’s situation is quite similar to Brown’s. Both men’s initial crimes were related to tobacco products. Both men were physically intimidating black males. Both men broke the law. Both men were confronted by the police. Both men became belligerent. Both men resisted … [Read more...]

It is becoming the consensus of opinion leaders that income inequality is becoming a major political issue. Mayor DeBlasio,  who ran on this issue in the recent New York City mayoral race, won by a 43% landslide. There are various causes cited on both sides of the political aisles. Conservatives cite globalization and advancing technologies allowing corporations to either export jobs overseas or replace workers here with automation. Liberals favor a more progressive tax structure in order to redistribute wealth. Both sides cite numerous facts, figures and academic studies to support their view. And both are wrong. The real cause of income inequality is what economists call “moral hazard.” Simply explained, it means that human beings will take significant financial risks if they are assured they will not suffer the consequences. For example, a blackjack player may be unwilling to take a $10,000 loan to gamble; however, the same individual would be perfectly willing to gamble away a $10,000 loan given the assurance that the loan did not have to be paid back. Over the past generation, major financial interests have generously donated to both political parties so that they can … [Read more...]