What George Bailey’s Building and Loan Company Can Still Teach Us About Banking

In His Time and Ours, Big Lenders Often Get a Pass, While Small Banks and the Communities They Serve Are Left Vulnerable

The bank run scene in It’s a Wonderful Life always makes me cry real tears. If you care about America, you should love the scene too—and not just because it is a brilliant piece of cinematic storytelling.

The scene unfolds as George Bailey, played by Jimmy Stewart, sets off on his honeymoon in a taxicab, only to realize that depositors have gathered outside a local bank, demanding their money. Instead of continuing on his honeymoon, George hustles to his beloved Bailey Building and Loan, where he finds it closed and hence …

Bitcoin Is an Energy-Wasting Ponzi Scheme

There Are Better Ways to Reap the Benefits of Digital Currencies—Without the Risk

Digital currencies, in their current form, should be prohibited by law. And not because they are a Ponzi scheme (which they are), and not because they can help facilitate criminal …

Want to Really Help Workers? Then Embrace Free Trade

Protectionist Barriers Won't Stop Robots from Taking U.S. Jobs

Ideas, innovation, exploration, and entrepreneurship make societies rich. When you buy something built elsewhere you are not just buying a fancy new object. You are importing ideas and innovation. When …

California’s Bad Bet on School Finance Leaves Too Much to Chance

It’s the Already-Fortunate Who Are Most Likely to Luck Out in the State’s Public Education System

Californians may think we have a system of public education. But what we really have is a state system for rationing public education.

I got a personal taste of this …