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Trade With Canada Is The Origin Of Supply-Side Economics
Word that the United States might freeze out Canada from a new North American trade arrangement brings to mind where the greatest economic policy revolution since the New Deal came from. Supply-side...
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Paul Romer’s Economic-Growth Recipes Are Delicious and Nutritious
Paul Romer’s Nobel Prize in economics that was announced today was a long time coming. In the 1980s and 1990s, Romer did the economics profession the service of explaining to it the profoundly obvious....
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The Signal Of Gold’s Stability
The years 2014-18 have seen a departure from the years that preceded them in the twenty-first century. Gold has been stable in this latter period, our own, moving in about a 6-percent band against the...
View ArticleBank Panics Of Old Were Like Colds You Never Caught
Back in the old days, the financial system was prone to panic. This is one of the sturdiest verities of American economic history. While the nation grew in the 19th and early 20th centuries, the...
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The Trump Electorate Found A Hole In Free-Market Theory
The Donald J. Trump electorate, successful as it was in vaulting its candidate into power in the 2016 election, confounded not merely the grandees of the Republican Party but advocates of the...
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The Stock Market Has Predicted Nine Of The Past Five Recessions
The stock market has predicted nine of the past five recessions—a joke from master Keynesian of decades ago Paul Samuelson. Samuelson’s great rival on the supply-side, Wall Street Journal editorial...
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Bob McNair Just Might Have Saved Houston
Power-generation billionaire Robert C. McNair’s death last week deprives the city of Houston—that capital of the Americas, as I am fond of calling it—with its essential steadying voice. Here is a...
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George H. W. Bush’s Voodoo Rhetoric
Recently deceased President George H.W. Bush was especially fond of foreign affairs and had a most extensive resume in public service prior to becoming president in 1989. These matters are in common...
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Bush’s 1990 Tax Increase Was Comprehensively Destructive
President George H.W. Bush, now laid to rest in College Station, Texas, had a resume, it is often noted. Actually, it was not so long: only 10 years in public service before he became vice president....
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Single-Payer Monetary Policy
That was weird. With exceptions (Martin Feldstein) you could count on a finger, the chorus of opinion about whether the Federal Reserve should raise rates, should “tighten money,” was in the negative....
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Fed Chairs Used To Be Maestroes
In 1999, syndicated columnist Robert D. Novak noticed that the sky was the limit when it came to singing the praises of the current chair of the Federal Reserve, Alan Greenspan. A book about Greenspan...
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Presidential Parties And The Stock Market
2018 turned out to be a down year for stocks. When the exchanges closed this afternoon, the Dow industrials were negative since last December’s final trading day, by about 6%. It’s the first down year...
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We’re Not Growing Fast Enough
The Gross Domestic Product announcement yesterday puts economic growth in 2018 at 2.9%. This makes for an astonishing thirteen straight years—beginning with 2006—of growth at under 3%. Never has our...
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Modern Monetary Theory Got Trounced Years Ago
Over the last several months, Modern Monetary Theory—MMT—has become the progressive left’s latest policy darling, notwithstanding withering criticism from the center (Larry Summers) and the right (from...
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China Is Scared Of Something
The People’s Republic of China is fearless in the face of many things that generally elicit fright and cowering. Islamic terrorism, for example, does little to impress the Chinese leadership. That...
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Millennials Are Teaching Us That Marx Is Unnoticeable
In the apparent march towards socialism that the nation is undertaking, the point is often made that the young generations, the millennials and “post-millennials” born after 1980, have no memory...
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Three Questions For The Economic-Growth Scolds
The announcement that the president will name Stephen Moore to the Federal Reserve Board has drawn the condescension of that sturdy breed, the mainstream economist. Textbook magnate Greg Mankiw, for...
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QE Was A Failure
Nostalgia for former Federal Reserve Chair Ben Bernanke’s quantitative easing, “QE,” have we now? Let’s look into where that got us. QE refers to massive buying by our Fed of assets beyond United...
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Stephen Moore’s Critics Acquitted Themselves Poorly
The Federal Reserve shall continue in its same old vein now that Stephen Moore has relinquished his bid to be President Trump’s nominee to the Board of Governors. Let’s recount how off-base Moore’s...
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QE Showed That 2008 Was Not A Financial Crisis
A verity of economic analysis that emerged in the 2008-09 downturn is that what hit was a “financial crisis.” The indication was that the origin and central location of the downturn was in the banking...
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