“The traditional argument against a rules-based monetary policy is that it requires Fed officials to specify too many contingencies ahead of time.” Those are the words of economist Jason Furman, chairman of Barack Obama’s Council of Economic Advisers from 2013-17, and Harvard economics professor at present. The bet here is that Furman could be persuaded to […]
A 2025 Resolution For Fed: Have The Courage To Do Nothing Read More »
The view here is that mass deportation of Mexicans from the United States will ultimately result in quite a few more Mexicans searching for a way to get to the United States than before. It’s basic economics. Regardless of ideology, please read on. “I build their dream houses. That means I depend strictly on
Deportation of Mexicans Will Result In More Mexicans In the U.S. Read More »
“The federal government owns a little more than one-fourth of the total land area of the United States. The time is long overdue to consider whether that is the best economic arrangement.” Those are the words of the great Thomas Sowell. How to argue with Sowell? Think of the freedom and economic progress that
Conservatives Must Cease Calling For Tax-Revenue Increases Read More »
If you ever want to learn economics, just purchase books about entertainment and sports. It’s that simple. Considering antitrust alone, the whole profession could be put out of business by the memoirs and biographies written by actors and entertainment journalists. All of this came to mind while reading Tim Matheson’s (Animal House, Fletch, The
Book Review: Tim Matheson’s ‘Damn Glad to Meet You’ Read More »
“The greatest fever of all was aspiration, a belief in the sheer possibility to remake a life.” That’s what Evan Osnos wrote in Age of Ambition, his remarkable 2014 book about life in emerging China. Osnos reported that as of 2014 the Chinese were second only to Americans when it came to the purchase of
An Envious U.S. Political Class Protests the Chinese Eating Read More »
What should the interest rate be? The very question insults reason simply because economies are comprised of individuals, businesses and governments with wildly divergent pasts, presents and futures. An interest rate is a singular concept, not a number that a central planner can divine. What’s true about interest rates is similarly true about bank
The Arrogant Conceit of Bank Capital Requirements Read More »
Repeat it over and over again: there’s no interest rate, and there’s no such thing as interest rates. There are individuals, and individuals face a myriad of borrowing costs as numerous as there are people. The Fed can’t nor does it make credit easy or tight simply because an economy is people. And the
The Fed’s Critics vs Fed: Central Planners vs. Central Planners Read More »
“At 5-foot-10, Henderson was smaller than many big leaguers, but he overcame his size with a combination of horse power, a savant-like ability to exploit deficiencies in pitchers, and an extreme bravado that many players viewed as cockiness.” That’s how Michael Rosenwald described the recently passed Rickey Henderson in an obituary that Forbes publisher Rich Karlgaard
The Late Rickey Henderson Is An Exciting Look Into the Future Read More »
Andy Kessler writes in his latest Wall Street Journal column that the U.S. “is strong precisely because we don’t all think the same way. New ideas come from new ways of thinking.” Kessler puts it so well. We individuals generally see the present and future very differently, and it’s this very division praised by Kessler that powers
Freedom Is the Only Way to Beat Authoritarianism Read More »
No individual, no corporation, and no country ever runs out of money. Ever. What all three run out of is investor trust. The above truth rates frequent repeat in light of a recent news account about Javier Milei, Argentina’s president. The report indicated what’s well known, that President-elect Donald Trump is a big fan of Milei’s.
If Javier Milei Is Javier Milei, Then Argentina Doesn’t Need the IMF Read More »
