President Bush today announced the long-expected departure of Treasury Secretary John W. Snow and the nomination of Henry M. Paulson Jr., the chief executive of Goldman Sachs, as his successor. . . . Mr. Paulson, 60, spoke briefly but forcefully about the challenge posed to the American economy by globalization. 'We must take steps to maintain our competitive edge in the world,' he said. (Washington Post, Tuesday)
Free the residents of America and competitiveness will take care of itself.
FEE Timely Classic
Public Policy and the Free Economy by Thomas J. DiLorenzo