Tag: Economics
The Debt—Who Cares?

Regardless of where you stand in regard to the American Rescue Plan, it is mind-boggling to see how little anyone in positions of political responsibility seems to care about the debt, perhaps the single most important issue facing the U.S. economy in the next few years. The same can be said of most advanced...
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Rushing Toward the Fiscal Cliff

Last week President Biden signed the $1.9 trillion COVID relief bill, which among other things will provide direct payments of $1,400 to many Americans, and extend a financial supplement to unemployment payments. It’s difficult to comprehend numbers as big as $1.9 trillion, but here are some ways to think about it. The US population...
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Should It Be Illegal for Low Productivity People to Work?

There’s a movement well underway to make it illegal for low-productivity workers to hold jobs. The idea is that people who are not productive enough to earn $15 an hour should not be allowed to work. Several states have already passed laws that will prohibit those who are not productive enough to earn $15...
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Thomas Sowell on Truth and Proportionality

“Even the best things come to an end,” wrote Thomas Sowell in late 2016, as he shut down his newspaper column in order to “spend less time following politics and more time on my photography.” Four years later, when he turned 90, the economist and Hoover Institution fellow was back with Charter Schools and...
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How Did Forecasters Get the Pandemic Economy So Wrong?

The stock market and the consensus of forecasters are two sources of economic intelligence that are often enough at odds. But history hardly ever saw a gulf as wide as what occurred in this year of pandemic. Just before the general shutdown began in March, the market’s plunge corroborated the influx of popular fear...
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Free Will: Getting the Economics Right

The philosopher Ludwig Wittgenstein [Tractatus Logico-Philosophicus, 1921; Philosophical Investigations, 1953] famously argued for the analytical necessity of “getting the grammar right.” By his lights, the inadequacy of language for representing ethical, aesthetic, and metaphysical concepts unavoidably creates philosophical pseudo-problems; genuine problems were said to be scientific rather than philosophical. Philosophy’s task, therefore, is to...
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Is the Presidential Election Winner Ready to Face a Mammoth Debt Crisis?

Writing in Foreign Policy, economist Dambisa Moyo paints a nightmare scenario of what is waiting for the next U.S. President:

Coordination, Cooperation, and Control: The Evolution of Economic and Political Power

My latest book is titled Coordination, Cooperation, and Control: The Evolution of Economic and Political Power. The book’s ultimate conclusion is that when the same people hold both economic and political power, the result is stagnation. When the people who hold economic power are not the same people who hold political power, the result...
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Different Dread from the Fed

“The next six months could make what we have experienced so far seem like just a warm-up to a greater catastrophe. With many schools and colleges starting, stores and businesses reopening, and the beginning of the indoor heating season, new case numbers will grow quickly.” That sounds like the latest pronouncement from Dr. Anthony...
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As the Pandemic Demonstrates, Leviathan Feeds on National Crises

Crisis and Leviathan is Robert Higgs’ great work of history exploring how politicians exploit crisis situations to grow their power. As their power grows, so too does the size of government. Leviathan, of course, refers to the old bible stories of a multi-headed sea serpent with an insatiable appetite—much like today’s U.S. government, which...
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