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Poor Cubans Eye Gold Rush as Car Market Opens

Waiter earning $15 a month can sell 30-year-old Moskvich for $5K

(Newser) - Now that Cuba is allowing people to buy and sell cars , classic automobiles are going up for sale—creating a bubble that allows the wealthy to buy them, and poverty-stricken sellers to suddenly strike it rich, the New York Times reports. One waiter who earns $15 a month is looking... More »

Cuba Allows Citizens to Buy, Sell Homes

But only within certain stringent limits

(Newser) - Cuba is taking another baby step toward capitalism, making it legal, for the first time in more than 50 years, for citizens and residents to buy and sell homes, a state-run newspaper announced today. It’s the latest and, according to a BBC correspondent, most significant in a string of... More »

Dear Feds: Don't You Dare Let AT&T Buy T-Mobile

Say goodbye to competition, hello to gouging

(Newser) - AT&T's bid to buy T-Mobile is brilliant, writes Brett Arends for MarketWatch —for AT&T. For everyone else, it's "disastrous," if not downright anticompetitive. "It will let AT&T shut down a competitor, jack up prices, and save on customer service," he writes in... More »

Right Should Cheer Obama's India Speech

It 'defended free trade, free markets, and free society,' writes Bret Stephens

(Newser) - It may “shock and dismay” his most faithful readers, but conservative Wall Street Journal columnist Bret Stephens has to hand it to President Obama: He “gave a terrific speech yesterday to India’s parliament, perhaps the best of his presidency, and potentially a true compass for the rest... More »

Free Markets Saved the Miners

Innovative, for-profit companies came through

(Newser) - The Chilean mine rescue was “a smashing victory for free-market capitalism,” writes Daniel Henninger of the Wall Street Journal . “It may seem churlish to make such a claim. It is churlish. These are churlish times, and the stakes are high.” The fact is, this miracle rescue... More »

Hey GOP, Government Isn't Always Bad

Party's reflexive small-government views will hurt US

(Newser) - Tea Partiers and other critics of government largesse have made the Republican party ascendant just two years after its cause seemed hopeless. A clear purpose helps, and Republicans have it: stop the expansion of government. Return the country to its free-market roots. But this is a dangerous oversimplification of American... More »

The Crash Taught Us Nothing

How have Republicans revived their old, worn-out ideology?

(Newser) - Thomas Frank turns in his last column for the Wall Street Journal today, and he’s feeling a bit depressed. Back when he started writing for the paper, the financial crisis had just hit, and though it was a terrible time, he took solace that “at least we were... More »

Airline Fees None of Schumer's Business

It's a free market, so politicians should butt out

(Newser) - Spirit Airlines imposes a fee for carry-on bags, and suddenly it's Public Enemy No. 1 on Capitol Hill. Amid the outrage, Jeff Jacoby would like to remind the government (and he's looking at you Chuck Schumer and Ray LaHood) that Spirit is a private company fighting for its life in... More »

Dems, Not GOP, Are Party of Big Business

Anti-free market reform is the only thing keeping fat cats alive

(Newser) - The idea that the GOP is the “party of big business” is a convenient fabrication, Jonah Goldberg writes, that handily deflects blame from the progressives who have historically been in bed with the fat cats—particularly the health care industry. Just look at GE during the Great Depression, when... More »

Bush Warns of 'Too Much' Government

But he doesn't mention Obama by name

(Newser) - George Bush has promised to steer clear of criticizing his successor's policies, but he seemed to come awfully close yesterday during a speech at SMU. "As the world recovers, we will face a temptation to replace the risk-and-reward model of the private sector with the blunt instruments of government... More »

Obama, Dems Are Free Market Crusaders

Wall Street, health industry are the ones opposed to competition

(Newser) - The champions of the free market are on the march, but it's not who you think. It’s the Democrats who want to put health insurance on open exchanges where consumers can easily compare them, with a public option to inject competition into an “oligopolistic market,” points out... More »

Pope Has Best Take on Financial Crisis

Goldman exec touts Benedict's 6-point plan for global economy

(Newser) - All of Pope Benedict XVI's gaffes and controversies have obscured his principal appeal, writes Brian Griffiths in the Times of London: he's a scholar, with an uncommon command of theology and philosophy. For Griffiths, a vice-chairman of Goldman Sachs, the pope's recent encyclical on the economy is "without... More »

The Real Deal on 10 Lies About Obama

(Newser) - Opponents are saying a lot of things about President Obama that just aren’t true. Mark Halperin clears up the record in Time. Obama ...
  • has Israeli security interests at heart.
  • is not blind to the costs of a revamped health care system.
  • "is not captive to his party's liberal
... More »

The US Needs Its Own Perestroika: Gorbachev

Global financial crisis calls for economic restructuring

(Newser) - Mikhail Gorbachev has been saying for years that the US needed change, and for the first time, he writes in the Washington Post, people have been meeting him with applause rather than skepticism. America needs a perestroika—a restructuring—because, like Russia in the 1980s, it can no longer revert... More »

Banks Have Gotten a Bum Rap: BofA Chief Ken Lewis

The steps already taken are working, so let the market sort it out

(Newser) - Banks have been unfairly tarred by misconceptions about the current financial crisis, Bank of America CEO Kenneth Lewis argues in the Wall Street Journal. It's not true that banks aren't lending, he writes. They are just doing so more responsibly, as they should. And it's not true that bad banks... More »

Earth to GOP: Obama's No Socialist

Obama favors free-market approach

(Newser) - Horrified by President Obama's stimulus plan, conservatives are calling him a European-style socialist—when in fact he's all-American, Jacob Weisberg writes in Newsweek. Obama envisions “cradle-to-grave opportunity, as opposed to the European model of cradle-to-grave security,” writes Weisberg, who explains that Obama’s plans to tackle hot issues... More »

Free Market Rings Up 4B Cell Phones Worldwide

6 in 10 connected, thanks to private biz

(Newser) - The global explosion in cell phone use is a timely reminder of what free markets can achieve, David A. Gross writes in the Christian Science Monitor. There are now more than 4 billion mobile connections worldwide, two-thirds of them in developing countries, according to a new UN report. This leap... More »

Crisis Turns Econ Theory on Its Ear:

Models, and pols, don't account for biases, insecurities: Brooks

(Newser) - Classical economics is based on the idea that “reason rides the passions the way a rider sits atop a horse,” David Brooks writes in the New York Times—which means classical economics is pretty much out the window right now. The recession proves the market is a psychological... More »

Bush's Failures Show the Need for Pragmatic Prez

Like Hoover, Dubya stuck to his principles rather than compromise

(Newser) - What exactly made George W. Bush such a terrible president? His unwavering commitment to his principles, Alan Brinkley argues in the New Republic. Most Americans favor idealists over realists, in theory, so the criticism might seem strange. But the presidents we remember for their lofty goals and convictions—such as... More »

Bailouts a Fling for Nation Married to Free Market

Bailouts not a betrayal of free market ethos, really

(Newser) - Washington's bailout of the auto industry would normally "be a turning point in the history of American Capitalism,” writes Steven Pearlstein of the Washington Post. Now it’s business as usual in “Bailout Nation.” That doesn’t mean the US has abandoned its free market ethos,... More »

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