Monetary Economics
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Understanding Unemployment
“The real impact of recession is felt directly on the unemployed and their families, in lost income, lost opportunities, and a host of social problems, including impaired mental health, domestic violence, and substance abuse.” ~ Robert F. Mulligan
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Industrial Policy? Try Competition and Entrepreneurship Instead
“The entrepreneurship-plus-competition path to a broader-based American economy in a post-Covid world requires humility about what governments can reasonably do if the goal is to promote diversification of the U.S. economy.” ~ Samuel Gregg
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Everything Is the Fed’s Fault: A Review of the Fiat Standard
“The aggressive tone aside, the emphasis on a fiat mindset – one where you get something for nothing and can have something merely by decree – is valuable. The thesis remains unproven, but the proposition lingers long after the final page.” ~ Joakim Book
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All Housing is Affordable Housing
“If developers build cheap housing, the price of all housing except the very most luxurious will fall. Alternatively, if we build more luxury housing, then the price of all housing will fall, as there will be less pressure for gentrification or ‘teardowns.’” ~ Michael Munger
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Government Greed
“Perhaps the biggest fail of them all is that many Americans whose real incomes are declining but whose nominal incomes have increased will be forced on 15 April to pay higher real taxes. Come to think of it, government isn’t greedy. It’s rapacious.” ~ Robert E. Wright
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Are Gold Rubles Gold or Rubles?
“The loss of citizens’ purchasing power over decades was scarcely enough to drive states to introduce monetary reforms. It is not surprising that a newly-cast pariah state is embracing gold in a desperate bid to recapture some semblance of normalcy.” ~ Peter C. Earle
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Solar Tariffs Are a Mistake
“Tariff extensions burden the US solar market with slowed growth and exemplify yet another case against outdated trade policies. In the words of Gabriella Beaumont-Smith, the US should ‘let the sun set on solar tariffs.'” ~ Dorothy Chan
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The Meme-Stock Revolution That Wasn’t
“At the end of the day, argues Jakab, most retail investors were left holding the bag. Aside from the identifiable shorts like Gabe Plotkin or Andrew Left, most other Wall Street actors made a lot of money from the episode.” ~ Joakim Book
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The Real Problem with PPP Loans
“If you love jobs you can’t hate the individuals whose ideas and capital commitments make work possible. If the PPP money had to go somewhere, it was best that it went to those who paid the taxes in the first place.” ~ John Tamny
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The State of the Union is…
“It would be far better that we insist on following Thomas Jefferson’s lead. While his predecessors, Washington and Adams, delivered their State of the Union addresses in person every year, Jefferson just sent letters to Congress.” ~ James R. Harrigan
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•
Understanding Unemployment
“The real impact of recession is felt directly on the unemployed and their families, in lost income, lost opportunities, and a host of social problems, including impaired mental health, domestic violence, and substance abuse.” ~ Robert F. Mulligan
-
•
Industrial Policy? Try Competition and Entrepreneurship Instead
“The entrepreneurship-plus-competition path to a broader-based American economy in a post-Covid world requires humility about what governments can reasonably do if the goal is to promote diversification of the U.S. economy.” ~ Samuel Gregg
-
•
Everything Is the Fed’s Fault: A Review of the Fiat Standard
“The aggressive tone aside, the emphasis on a fiat mindset – one where you get something for nothing and can have something merely by decree – is valuable. The thesis remains unproven, but the proposition lingers long after the final page.” ~ Joakim Book
-
•
All Housing is Affordable Housing
“If developers build cheap housing, the price of all housing except the very most luxurious will fall. Alternatively, if we build more luxury housing, then the price of all housing will fall, as there will be less pressure for gentrification or ‘teardowns.’” ~ Michael Munger
-
•
Government Greed
“Perhaps the biggest fail of them all is that many Americans whose real incomes are declining but whose nominal incomes have increased will be forced on 15 April to pay higher real taxes. Come to think of it, government isn’t greedy. It’s rapacious.” ~ Robert E. Wright
-
•
Are Gold Rubles Gold or Rubles?
“The loss of citizens’ purchasing power over decades was scarcely enough to drive states to introduce monetary reforms. It is not surprising that a newly-cast pariah state is embracing gold in a desperate bid to recapture some semblance of normalcy.” ~ Peter C. Earle
-
•
Solar Tariffs Are a Mistake
“Tariff extensions burden the US solar market with slowed growth and exemplify yet another case against outdated trade policies. In the words of Gabriella Beaumont-Smith, the US should ‘let the sun set on solar tariffs.'” ~ Dorothy Chan
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•
The Meme-Stock Revolution That Wasn’t
“At the end of the day, argues Jakab, most retail investors were left holding the bag. Aside from the identifiable shorts like Gabe Plotkin or Andrew Left, most other Wall Street actors made a lot of money from the episode.” ~ Joakim Book
-
•
The Real Problem with PPP Loans
“If you love jobs you can’t hate the individuals whose ideas and capital commitments make work possible. If the PPP money had to go somewhere, it was best that it went to those who paid the taxes in the first place.” ~ John Tamny
-
•
The State of the Union is…
“It would be far better that we insist on following Thomas Jefferson’s lead. While his predecessors, Washington and Adams, delivered their State of the Union addresses in person every year, Jefferson just sent letters to Congress.” ~ James R. Harrigan