Incentives
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Mission Creep: The Fed’s Foray Into State and Local Debt
The Fed’s scheme to offer credit to states and municipalities was fiscal policy in disguise, turning local mismanagement into a national problem.
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Is Abandoning Quarterly Earnings Report Requirements a Good Idea?
All reporting is a trade-off between transparency and accountability on the one hand, and managerial flexibility and cost savings on the other.
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The Case for Privately Funding the Arts Just Got Stronger
Art is highly subjective. Why shouldn’t individuals fund the work they feel is important and valuable, voluntarily?
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Miran Follows a Long Tradition of Political Appointees at the Fed
From Eccles to Greenspan to Yellen, history suggests politically seasoned Fed officials are the rule rather than the exception.
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Inflation Heats Up in August
Inflation is rising compared to its year-over-year pace, nudged along by tariff effects. But Fed officials are expected to cut rates next week, anyway.
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Why is the Fed Revising its Framework?
Chair Powell maintains that the framework “worked just fine” over the past five years, but that changes underway seem to admit to past mistakes.
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This Medicaid Fix Saves More Than Adding Work Requirements
Equalizing federal subsidies between states and programs could save Medicaid $40 billion per year, and give states options for reducing its growth.
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Social Security is Not a Ponzi Scheme, but in One Way It’s Worse
Unlike unwary investors, future generations can’t willingly opt into — or out of — the Social Security shakedown.
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Tuition-Free Medical School Is Not Working Out
Financial incentives shape behavior — not always for the better.
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•
Mission Creep: The Fed’s Foray Into State and Local Debt
The Fed’s scheme to offer credit to states and municipalities was fiscal policy in disguise, turning local mismanagement into a national problem.
-
•
Is Abandoning Quarterly Earnings Report Requirements a Good Idea?
All reporting is a trade-off between transparency and accountability on the one hand, and managerial flexibility and cost savings on the other.
-
•
The Case for Privately Funding the Arts Just Got Stronger
Art is highly subjective. Why shouldn’t individuals fund the work they feel is important and valuable, voluntarily?
-
•
Miran Follows a Long Tradition of Political Appointees at the Fed
From Eccles to Greenspan to Yellen, history suggests politically seasoned Fed officials are the rule rather than the exception.
-
•
Inflation Heats Up in August
Inflation is rising compared to its year-over-year pace, nudged along by tariff effects. But Fed officials are expected to cut rates next week, anyway.
-
•
Why is the Fed Revising its Framework?
Chair Powell maintains that the framework “worked just fine” over the past five years, but that changes underway seem to admit to past mistakes.
-
•
This Medicaid Fix Saves More Than Adding Work Requirements
Equalizing federal subsidies between states and programs could save Medicaid $40 billion per year, and give states options for reducing its growth.
-
•
Social Security is Not a Ponzi Scheme, but in One Way It’s Worse
Unlike unwary investors, future generations can’t willingly opt into — or out of — the Social Security shakedown.
-
•
Tuition-Free Medical School Is Not Working Out
Financial incentives shape behavior — not always for the better.