Search Results for ""regime uncertainty""

Is Obama a Traitor to His Class?



As businessmen, including many who supported Barack Obama’s presidential campaign, continue to go public with complaints about regime uncertainty and its discouraging effect on the economy’s recovery, some observers are speculating that the tycoons’ animus is driven at least in part by their sense of betrayal: they had recognized Obama as a member in...
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More Economists Join Higgs’s Call to “Do Nothing”



The Wall Street Journal has been polling economists throughout the recession on their forecasts, including for unemployment—which have not been very accurate—as well as advice on government policy. Their most recent response: “Economists Want Policy Makers to Back Off Now.” Despite the continuing challenging conditions, 30 out of 48 economists ... said the economy...
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It’s Uncertainty, Stupid!



Apparently, the “Brains Trust” really is stupid if it doesn’t understand “Government and the Uncertainty Trap,” year after recessionary year. For years, economist and historian Robert Higgs emphasized (and measured) “regime uncertainty” as a cause of the Great Duration—i.e., why the Great Depression “lasted so long.” Higgs’ “delicious expression” is starting to enter the...
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Trojan Horse Health Care Bill Unloads Formidable Tax Form Burden



Businesses—especially small businesses—that have managed to survive the ongoing depression face an even steeper uphill battle as Obama’s regime uncertainty continues to play out. They’ll now have to find the time and money to file an average—for small businesses—more than 200 additional tax forms annually, as explained by CNNMoney “Stealth IRS changes mean millions...
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Robert Higgs’s Recent Interview by Libertad Digital (here in English)



I was interviewed recently by Angel Martin for Libertad Digital, an interesting Spanish website. The interview was posted today. Topics discussed include the recent financial debacle, the current recession, the government’s recent policy actions, and several related, more general subjects, such as “regime uncertainty” and U.S. foreign policy. For those who might be interested...
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Anatomy of the Current Recession



Not everyone has the stomach for perusing the national income and product accounts, but one who does can learn a great deal about what ails the present economy and about its prospects for returning to a healthier condition. (I draw the data I discuss here from Table B-2, “Real gross domestic product, 1960-2009,” in the...
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Memo To Business: We Want You To Hire, So We’re Putting More Burdens On You



According to this article, small businesses are reluctant to hire because of the very real prospect of additional tax and regulatory burdens they will have to bear. The possibility that Obamacare will make them responsible for their employees’ health insurance expenses is but one example of the tax and regulatory burdens that may be...
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Pity the Poor Private-Sector Workers



Has the recession ended? If not, do “green shoots” foretell a recovery’s advent in the near term? The answer, of course, depends on which indicators we check. Unfortunately, the mainstream economics profession and the public alike place too much emphasis on highly aggregative measures, such as estimates of quarterly GDP and the standard rate...
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Broken-Window Alert



How many jobs has the “stimulus” package created? Sensible economists of course know this question cannot possibly be answered. Government spending directs resources toward politically favored projects at the expense of others, but the net effect on resource allocation, including the net effect on “jobs”—a heterogeneous category that depends on hours worked, job characteristics,...
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ObamaCare Speech: I’m Radical and Mad as Hell



Dateline: September 9, 2009: Obama speech (as I watch): From the lips of POTUS . . . Introduction: Insurance companies are evil but I do not want to put them out of business. (Huh? After listening to the litany of insurance company evildoing, any sane person would put them out of business.) Middle section:...
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