Dec. 6, 2013 Rabbi Nathan Lopes Cardozo: The Road to Faith is Paved with Uncertainty Caroline B. Glick: The Politics of Subversion Jonathan Tobin: Mandela, patron saint of Israel haters? Kimberly Lankford: How to Navigate Medicare on Your Parents' Behalf Lisa Gerstner: 6 Things to Know About Going Paperless The Kosher Gourmet by Carole Kotkin: A symphony of the always flavorful and tender mixed with the nutty, delicately sweet Dec. 4, 2013 Mordechai Schiller: The Mystery of Teddy Roosevelt's Menorahs George Friedman of Stratfor: Israel's New Strategic Position Christi Parsons: The chalice that helped make possible the Iran nuclear deal Geoffrey Mohan: OOPS! You mean men and women really are different? Kimberly Lankford: How to Navigate Medicare on Your Parents' Behalf Everything's Relative by Jordan B. "Gorf" Gorfinkel : A teaching/torture moment The Kosher Gourmet by Kathleen Purvis: The secrets to preparing perfect mashed potatoes (3 mmm-outhwatering recipes!) Dec. 2, 2013 Rabbi Moshe Grylak: Attack on Chanukah's scholar-warriors an affront to all people of faith Mark Steyn: U.S. boxes in Israel, not Iran: Surrender in Geneva Kimberly Lankford: The Lowdown on the Obamacare Health Insurance Penalty Kathy Kristof: 5 Stocks to Sell Now Karen Ansel, M.S., R.D.: How you can eat more and weigh less Jewz in the Newz by Nate Bloom: Vanessa Bayer & Jacob, the Bar Mitzvah Boy; Adam Levine, nickname "the Bear Jew," is People's Sexiest; Eastwoods Need to Say "Kinehora!" The Kosher Gourmet by Kim Ode: Fried and gone to heaven: Dense, fried Slovenian doughnut-like rolls, krofi, on Chanukah is a treat you'll want to eat all year long Nov. 27, 2013 Caroline B. Glick: The goal of Obama's foreign policy David G. Savage: 1993 religious freedom act is at heart of contraception case Jonathan Tobin: SCOTUS Gives Religious Freedom a Hearing Cameron Huddleston: Best Doorbuster Deals for Thanksgiving and Black Friday Anjelica Tan and Cameron Huddleston: 12 Things Not to Buy During the Holidays Amina Khan: Jellyfish inspire flying-robot design The Kosher Gourmet by Cathy Pollak: Thanksgiving leftovers from boring to brilliant: TURKEY-BUTTERNUT TORTILLA SOUP WITH ZESTY LIME SOUR CREAM Nov. 25, 2013 Jonathan Tobin: Ayatollahs, 1; West . . . Damned Melanie Phillips: It's 1938 all over again Cameron Huddleston: The Black Friday Deals that Aren't Harvard Health Letters: Some health-related apps should be avoided Kimberly Lankford: Time Is Running Out on Energy-Efficient Home Improvement Tax Credits Karen Kaplan: Tracking babies' eyes, scientists find signs of autism in 2-month-olds The Kosher Gourmet by Diane Rossen Worthington: Secrets to perfect roasting of vegetables, including clever cook additions Nov. 22, 2013 Rabbi Benjamin Hecht: Especially wrong: How not to de-pamper a self-absorbed society Caroline B. Glick: A vastly changed Middle East Karen Kaplan: Bored? You won't be after reading this! Morgan Housel: What drives me absolutely crazy about finance Schuyler Velasco: Is one-click shopping just too darn easy? Jewz in the Newz by Nate Bloom : Hunger Games: Jewish Connections; A 'Minyan'of Jewish Celebs Recite the Gettysburg Address On-line; Walter Matthau's Reaction to JFK's Death L'CHAIM! by Joshua E. London and Lou Marmon: This year, give the gift of booze Nov. 20, 2013 Christa Case Bryant: Israel becomes a 'Promised Land' for non-Jewish geeks Steve Weizman: Rebuffed by Washington Netanyahu heads to Moscow 'Love Thy Enemy's Grandchild' Yale S. Samole, M.D. : Doctor, do I have to take this medication forever? Sharon Palmer, R.D. : Which foods are best? Busting nutrition myths Eleanor Laise: Medical credit cards can cause heartburn The Kosher Gourmet by Emma Christensen: Cranberry Curd Bars with Walnut Shortbread Crust is an excellent last-minute treat for Thanksgiving or any other special dinner this fall Nov. 18, 2013 There Is More Than One Way To Save a Life: As told to Rabbi Nachman Seltzer Nancy A. Youssef : Christians too afraid to complain as treatment in new 'democracy' worsens Stacy Teicher Khadaroo: How to get high school dropouts into 'recovery'? 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Jewish World Review Nov. 8, 2006 / 17 Mar-Cheshvan, 5767 Common sense economics By Walter Williams http://www.JewishWorldReview.com | Professors James Gwartney (Florida State University), Richard Stroup (Montana State University) and Dwight Lee (Georgia University), three longtime colleagues of mine, have recently published "Common Sense Economics." It's a small book, less than 200 pages, that addresses a serious economist dereliction of duty: making our subject understandable to the ordinary person. Public misunderstanding of basic economic principles leaves us easy prey to political quacks, charlatans and assorted hustlers. Part I of "Common Sense" focuses on 10 key elements of economics that I'll only briefly describe. The first is incentives matter. During the 1970s, gasoline prices rose dramatically. Immediately, people did more carpooling and eliminated unimportant trips. Gradually, they shifted to more fuel-efficient cars. During the 1980s and 1990s, gasoline prices fell. Again, people altered their behavior by buying more SUVs and more powerful cars. Incentives matter under socialism, too. In the former USSR, managers and employees were compensated by the number of tons of glass they produced. Factories produced glass so thick one could hardly see through it. The rules were changed so that compensation was made according to square meters of glass produced. Factories produced glass so thin that it broke easily. The second element is there's nothing that's free. Politicians talk about "free education," "free medicine" or "free housing," but that's nonsense. Resources are required to produce each of them. Of course, some people received these goods at a zero price, but that doesn't mean they didn't cost someone, usually a taxpayer, something. Their third element is we don't make all-or-nothing decisions such as choosing between eating or wearing clothes, that is, dining in the nude so we can afford food. Instead, we choose between having a little more food at the cost of a little less clothing. Their fourth element is that trade promotes economic progress through encouraging specialization. That's true whether the trade is between individuals, regions or countries. Specialization and trade make us dependent upon one another, but not to worry. The world's poorest people are far more independent than we. Check out Darfur. You might see families building their own shelter, gathering their own food and heating supplies, and making their own clothing. The flip side of the idea that trade promotes progress, and their fifth element, is the idea that obstacles to trade stymie progress. Among these political obstacles are taxes, licenses, regulations, price controls, tariffs and quotas. Elements six and seven are related. Profits direct resources to their highest value uses. Losses free misused resources for higher value uses. People earn income by serving their fellow man. This link between serving others and income gives us incentive to develop talents and skills and become highly valued. Elements eight and nine address the other keys to progress: Investment, better ways of doing things, sound economic institutions, and Adam Smith's idea that market prices direct buyers and sellers toward activities that promote the general welfare. Their tenth element is crucial. We shouldn't ignore the secondary and long-term effects of an action. For example, trade restrictions on foreign sugar that result in higher prices for domestically produced sugar save jobs in our sugar industry. Because of those higher prices, major candy manufacturers such as Wrigley and Brach's moved to Canada and Mexico to take advantage of lower sugar prices. That resulted in more U.S. jobs lost than were saved by the sugar trade restrictions. "Common Sense," subtitled "What Everyone Should Know About Wealth and Prosperity," contains a wealth of information about the major sources of economic progress, economic progress and the role of government, and important elements of practical personal finance. The latter contains finance principles on how to invest your money, using the principles of compound interest and how to get more out of your money. There's nothing in the book that goes beyond common sense, something rare these days. Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. Walter Williams Archives © 2006, Creators Syndicate.

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