Tag: regime uncertainty
Coronacrisis and Leviathan
In his magisterial Crisis and Leviathan, Robert Higgs shows that the growth of government in the twentieth century can largely be explained by patterns of crisis and response. These crises can be real (World Wars I and II, the Great Depression, stagflation) or imagined (inequality, the various isms). In either case new government programs, agencies, and policies...
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Three Haiku on Regime Uncertainty
Aphorism says Personnel is policy Trump’s team in chaos — No one knows what’s next Actors and actions in flux, Regime’s uncertain — Situation grim Investment makes little sense No prospect of growth    
All I Really Need to Know I Learned from Reading Higgs
Further to Bob Higgs’s earlier post, Thinking Is Research, Too!, down in Texas, the Chairman of the Dallas Fed has the odd practice of looking beyond government stats and actually (gasp!) asking real people how they think the economy is going. From a profile of the President and CEO of the Dallas Fed, Richard...
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Regime Uncertainty and Firearm Purchases
In a post entitled “Regime Uncertainty on Display – Gun Version,” George Johns at Sleepless in Midland argues that the White House’s rhetoric on gun control has been good (so far) for the firearms industry: Gun and ammo manufacturers and sellers are thriving like never before. And the reason is fear of Barack Obama’s...
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Think You’re Smart? Try This Quiz from The Independent Review!
The fall 2012 issue of The Independent Review, our quarterly journal edited by Robert Higgs, is hot off the press! As always, The Independent Review deals with a wide variety of fascinating questions about economic policy, political and social theory, and intellectual history. To test your wits, try answering the questions addressed in the...
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With No Hope for Change, Obfuscate!
With every Keynesian trick having failed to bring the economy out of its post-meltdown Great Recession, and having apparently concluded that there’s no more conjuring they can do to improve it before the election, President Obama’s re-election strategists look to be latching firmly onto social issues. Really? In an era of continuing depression-level unemployment...
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Paul Krugman: “Space Aliens Could Save U.S. Economy”
As Dave Barry used to say, I’m not making this up. Deeply mired in the fatally flawed myth that World War II ended the Great Depression, Nobel Laureate Paul Krugman yesterday proposed that an invasion by space aliens would well provide the economic stimulus this country needs: As Dr. Robert Higgs has more than...
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Regime Uncertainty and the S&P 500 as a “Fear Indicator”
Highly-regarded J.P. Morgan Global FX Strategist Ken Landon included the following in his email advisory on Tuesday: Here’s a tautology: it will no doubt be another volatile day. With confidence having been severely undermined over the past two weeks, risk markets will continue to be susceptible to bouts of extreme fear in both directions....
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The Continuing Puzzle of the Hyperinflation that Hasn’t Occurred
Since late December 2008, the bank prime lending rate—the interest rate banks charge their best corporate customers—has remained steady at 3.25 percent. Meanwhile, during the same period, the excess reserves that commercial banks hold at the Fed have increased from $2 billion in August 2008 to $1,513 billion in May 2011. Ordinarily, one would have expected...
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Bloomberg: Put Higgs’s Name on That Nobel
In a Bloomberg report today, “Economic Recovery Is Languishing as Americans Await Signal of Better Times,” Peter Coy casts about for explanations for why the economy is not in recovery, and ends with this offer: A Nobel prize goes to whoever can end this routine and get America growing again. OK, Mr. Coy, send...
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