One of today’s pivotal questions is the ability of the economy to cope and adapt in the face of mandatory and voluntary social distancing. Real GDP in the second quarter of 2020 fell at an annualized rate of 32.9 percent, an unprecedented drop. It has become commonplace (and bipartisan) to assume that economic vitality...
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I thank Dr. Edwin G. Dolan for taking the time to critique my recent Independent Institute Executive Summary, A Pandemic is Not a Recession, in his April 15th blog posting for the Niskanen Center, “The Shaky Logic Behind Hopes for a Quick Recovery.” Criticism is valuable and necessary—though inaccuracies need to be cleared up...
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A bird’s-eye view of the Eurozone economies a decade after the financial crisis invites three conclusions: Governments that made unpopular free-market reforms are already reaping the fruits; families and businesses are acting more sensibly than their governments; last but not least, people have behaved much differently than the European Central Bank (ECB) intended. The...
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This week’s Lighthouse (available online here) deals with a wide variety of topics, including economic recovery (Robert Higgs), double-taxation of income of gas and oil producers (William F. Shughart II), Afghanistan (Ivan Eland), and bullfighting in Spain (Alvaro Vargas Llosa). Links to the individual items appear below: 1. How to Revive a Stagnant Economy...
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The federal budget is to a tolerable government as the Palace of Versailles is to a two-car garage. *** The Code of Federal Regulations is to the rule of law as a trainload of cyanide is to a nutritious diet. *** A member of Congress is to the preservation of our liberties as a member...
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