This issue of Principle Perspective is a much needed answer to many of the questions surrounding governmental control in regard to Covid. Critical questions like: “What is the proper role of government in a pandemic?” and “What does the Bible teach about submission to the civil authorities?” While this issue of Principle Perspective does not deal with most of the Constitutional crises created by government policies in reaction to Covid, it does help the reader develop a clear perspective that is: Biblically sound consistent in its application; and built upon some of the church history on the subject There is a lot of content … Read More
Crisis, Economics and the Compromise of Principle
An IPS Commentary By Mike Winther, President of the Institute for Principle Studies Crisis, Economics and the Compromise of Principle As I write this, the world is in the middle of the Covid-19 epidemic and Congress has just passed an economic relief bill with an advertised price tag of about 2.2 trillion dollars. This is an amount roughly equal to 10% of our 22 trillion dollar federal debt. This debt took 185 years to accumulate and now we are increasing it by 10% in one nearly unanimous congressional vote. In addition, the Federal Reserve is pumping vast amounts of liquidity … Read More
Modern American Bond-Servants
By Michael R. Winther, President of the Institute for Principle Studies As we go to the polls on this “Super Tuesday”, many of our ballots will include one or more bond measures. As we ponder our votes, it is good to remember that bond measures are deficit spending. All too often, Americans condemn debt and deficits, but then vote for bonds. We should consider that many of those who vote for these bonds will die before they are paid off. Still worse, Americans who are not yet old enough to vote will be paying these debts (and the interest) for … Read More
Unions & Collective Bargaining: Is there a simple answer?
Unions & Collective Bargaining: Is There a Simple Answer? An individual walks into a place of business seeking employment. The owner of the business and the job seeker interview each other, and both decide that an employment relationship may be to the benefit of each. They enter into negotiations over compensation and arrive at a mutual agreement on services to be performed and the pay rate. Assuming that the work to be performed is ethical and legal, is there any reason why these two parties should not be allowed to pursue this employment agreement? You might be surprised to find … Read More
Negative Interest Rates and the Impoverishing of America
An IPS Commentary By Michael R. Winther, President of the Institute for Principle Studies Negative Interest Rates and the Impoverishing of America If you have seen bank advertisements for CD rates, or if you have called your local bank or broker lately, you know that interest rates are abysmal. As I write this, Ally Bank is touting their 2-year certificate of deposit at a rate of 1.78%—I guess that is supposed to be a good deal these days. The Real Interest Rate More important than interest rates on deposits, however, is something called the “real interest rate.” This is … Read More
Negative Interest Rates
Negative Interest Rates If you have seen bank advertisements for CD rates, or if you have called your local bank or broker lately, you know that interest rates are abysmal. As I write this, Ally Bank is touting their 2-year certificate of deposit at a rate of 1.78%—I guess that is supposed to be a good deal these days. More important than interest rates on deposits, however, is something called the real interest rate. This is the interest rate after considering rising prices. Price increases are usually measured by the government with a statistic called the Consumer Price Index (CPI). … Read More
A Household Understanding of the Economic Crisis
An IPS Commentary By Michael R. Winther, President of the Institute for Principle Studies A Household Understanding of the Economic Crisis Despite the “gloom and doom” pronouncement that many commentators are making regarding our current economic situation, the formula for solving our nation’s economic woes is actually very simple. In fact, most average Americans already know the formula—in both a general sense and in detail. The problem is that the majority of Americans who know the solution don’t know that they know the solution. A Grand Deception One of the grandest deceptions in government and economics is the lie that … Read More
Five Principles
An IPS Essay By Michael R. Winther, President of the Institute for Principle Studies Five Principles At this time in our nation’s history, it is increasingly difficult to write about a political or economic issue without invoking some reference to our faltering economy and the increasingly enormous government bailout expenditures. These economic circumstances represent an excellent opportunity for teaching the principles of good government, so I want to add some important principle analysis to these events. Most of my readers are very familiar with the “$700 billion” legislation that authorized the federal government to bail out failing financial institutions, but … Read More