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In 1776, America's Founding Fathers gathered to revise and approve a document that would ultimately become testimony to the ideals and values by which the United States earnestly lives. Included among the principles set forth in the Declaration are the axioms of equality of opportunity - and not equality of condition by virtue of some favored or privileged status - and the equal nature of creation, which are solemn promises that serve as the foundational philosophy on which our American republic is built.

Congratulations to Barack Obama on his historic win. Upon taking his oath, President Obama will inherit an economy probably in recession, rising unemployment and a still unstable financial market. Obama ran on a promise to discontinue the Bush economic policies, which he claims caused this situation, and unleash his own proposals to turn the economy around.

There are many implications of President-elect Barack Obama's historic landslide victory in last week's election. Here are the three which will be the most apparent. The first implication is that America became the first Western nation ever to elect a member of a racial minority as its nation's leader, shattering a shameful racial barrier which stood for far too long.

In 2003, Ann Pettifor, a British political economist, published an article titled "The Coming First World Debt Crises," in which she accurately predicts a global financial crisis resulting from deregulation of finance. Pettifor refers to various incidents in the United States and Great Britain involving "reckless lending" by financial institutions, mainly central banks.

Thumbs Up Obama's Victorious I can die a happy person now. The world will be a more puppy dog and candy cane kind of place as of January 20th. And I'm a gleeful individual all because of this - and let's be real, my happiness is all that really matters anyway.

To the Loyola Community: The officials and members of the Adam Smith Society and the Economics faculty wish to apologize for the insensitive and incorrect remarks made Thursday, November 6 by invited speaker Professor Walter Block of Loyola University New Orleans.

As a conservative who determined to abstain from casting a vote for President, I have been asked, by consequence of Mr. Obama's resounding victory, what prospects I hold for the future. The truth is that I share with all of the stalwart supporters of this election a great hope for the future, one predicated on what I believe will be a necessary structural change for the Republican Party and also for American politics.