Daily Economy
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Business Conditions Monthly August 2023
“As social scientists we remain alert for and open to cogent, economically-sound and well-reasoned hypotheses pertaining to the current state of the economy. Presently, though, our expectation of a US recession on or before August 2024 remains undeterred.” ~Peter C. Earle
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Adam Smith’s Great Power Politics in One Paragraph
“It is said that an armed society is a polite society. Smith, by analogy, suggests that an international cosmos of armed nations will be a polite international cosmos.” ~Daniel B. Klein
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An Insider Untangles the Causes of the Financial Crisis in American Cities
“Balancing budgets without reassessing what municipal governments should or should not do, and the long-term benefits and costs of their activities is insufficient.” ~Jason Sorens & Robertas Bakula
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Why is Baby Formula Kept Under Lock and Key?
“Patent restrictions, a deliberate oligopoly, protectionist tariffs, and the highest inflation in four decades have resulted in an extremely expensive product at the end of a frangible production process and supply chain.” ~Peter C. Earle
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Reaching Across the Aisle for the Bill of Rights: Learning from a Political Odd Couple
“If Americans want to expand and guarantee protections for free speech, they can gain inspiration from the contributions of Republican Alfred Landon and Socialist Norman Thomas.” ~David Beito
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Is America Today Less Able Than In the Past to Economically “Absorb” Immigrants?
“The contempt with which some native-born Americans today hold the people whom they fear would immigrate to the US under a more liberal regime differs not one iota from the contempt with which these same Americans’ immigrant ancestors were held by earlier generations.” ~Donald J. Boudreaux
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How Crazy Do You Have to Be to Support Dollarization?
“The whole reason why it is an advantage for a developing country to tie to a major country is that historically speaking the internal policies of developing countries have been very bad. US policy has been bad, but their policies have been far worse.” ~Nicolás Cachanosky
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Weighing Whether the Standard Scale Makes Sense
“Largely thoughtless adoption of a grading scale inherited from primary school can increase the emphasis on rote instead of reason at the university level.” ~Gary M. Galles
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Eyes, Shoulders, Knees, and Toes: Rebutting Robert Gordon’s ‘The Rise and Fall of American Growth’
“We are wealthier now, not because we earn more but because we trade less of our time for goods. The real ‘superabundance’ comes not from ample money or wealth but ample leisure time.” ~David Gillette and Lauren Frazier
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What Should the Federal Reserve Do Now?
“Inflation is running above 2 percent by any measure, and a current temporarily higher rate on short-term securities can reassure markets that the Federal Reserve is aiming at a lower inflation rate.” ~Gerald P. Dwyer
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•
Business Conditions Monthly August 2023
“As social scientists we remain alert for and open to cogent, economically-sound and well-reasoned hypotheses pertaining to the current state of the economy. Presently, though, our expectation of a US recession on or before August 2024 remains undeterred.” ~Peter C. Earle
-
•
Adam Smith’s Great Power Politics in One Paragraph
“It is said that an armed society is a polite society. Smith, by analogy, suggests that an international cosmos of armed nations will be a polite international cosmos.” ~Daniel B. Klein
-
•
An Insider Untangles the Causes of the Financial Crisis in American Cities
“Balancing budgets without reassessing what municipal governments should or should not do, and the long-term benefits and costs of their activities is insufficient.” ~Jason Sorens & Robertas Bakula
-
•
Why is Baby Formula Kept Under Lock and Key?
“Patent restrictions, a deliberate oligopoly, protectionist tariffs, and the highest inflation in four decades have resulted in an extremely expensive product at the end of a frangible production process and supply chain.” ~Peter C. Earle
-
•
Reaching Across the Aisle for the Bill of Rights: Learning from a Political Odd Couple
“If Americans want to expand and guarantee protections for free speech, they can gain inspiration from the contributions of Republican Alfred Landon and Socialist Norman Thomas.” ~David Beito
-
•
Is America Today Less Able Than In the Past to Economically “Absorb” Immigrants?
“The contempt with which some native-born Americans today hold the people whom they fear would immigrate to the US under a more liberal regime differs not one iota from the contempt with which these same Americans’ immigrant ancestors were held by earlier generations.” ~Donald J. Boudreaux
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•
How Crazy Do You Have to Be to Support Dollarization?
“The whole reason why it is an advantage for a developing country to tie to a major country is that historically speaking the internal policies of developing countries have been very bad. US policy has been bad, but their policies have been far worse.” ~Nicolás Cachanosky
-
•
Weighing Whether the Standard Scale Makes Sense
“Largely thoughtless adoption of a grading scale inherited from primary school can increase the emphasis on rote instead of reason at the university level.” ~Gary M. Galles
-
•
Eyes, Shoulders, Knees, and Toes: Rebutting Robert Gordon’s ‘The Rise and Fall of American Growth’
“We are wealthier now, not because we earn more but because we trade less of our time for goods. The real ‘superabundance’ comes not from ample money or wealth but ample leisure time.” ~David Gillette and Lauren Frazier
-
•
What Should the Federal Reserve Do Now?
“Inflation is running above 2 percent by any measure, and a current temporarily higher rate on short-term securities can reassure markets that the Federal Reserve is aiming at a lower inflation rate.” ~Gerald P. Dwyer