Humans don’t take wealth, they create it. And they create it by virtue of dividing up work with other humans and machines. It’s called specialization, and it’s the root of productivity. These truisms are frequently ignored thanks to economists, and prominent sources of news that shed their common sense when they’re being instructed by […]
No, Washington Post, Going To War Isn’t a Growth Strategy Read More »
“We seem to be having an arms race. It’s emblematic of the complete breakdown of any kind of responsibility about the budget.” Cal-Berkeley economist Alan Auerbach said the latter in a recent Wall Street Journal interview. Auerbach was lamenting what he deems the unhappy fact that presidential candidates Kamala Harris and Donald Trump are persistently one-upping
It’s Responsible for Trump & Harris to Promise the Tax Moon Read More »
Responding to the failures of Enron and Worldcom within six months of each other, failures that didn’t spook the markets much at all, President George W. Bush zestily signed into law Sarbanes-Oxley (legislation that most certainly did spook the markets), thus criminalizing failure in an economy that had long derived its dynamism from – you guessed
Does the Economy Really Perform Better Under Democratic Presidents? Read More »
Talent matched with capital drives all economic advance, always and everywhere. Archaeologists will marvel at how many smart people bought into the Fed myth either way.
The Federal Reserve Can Neither Cause Nor Deter a Recession Read More »
