Daily Economy
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Which Economists Should Have Gotten Nobels Before They Died?
“None of them won the profession’s ultimate honor, however, even though all were deserving. As more and more deserving economists move into their 70s, 80s, and 90s, I can only hope this list doesn’t get longer.” ~ Art Carden
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Book Review: Peter Ward’s ‘The Price of Immortality’
“The Price of Immortality is in so many ways a deceptive title. Peter Ward’s readers deserve better, his subject deserves much better, plus the publisher should respect his readers more.” ~ John Tamny
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A Drinking Man’s Guide to Monetary Policy
“Just like drinking, expansionary monetary policy can provide a temporary (or transitory) high at first (faster real output growth and reduced unemployment). However, the ill effects come later (in an inflation “hangover”).” ~ Gary M. Galles
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As the World Gets Messier and Messier
“Fukuyama made the philosophy of history relevant again. Thirty years on, is that philosophy vindicated? What moves and shakes the world?” ~ Graham McAleer
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Inflation Fears Send Consumer Sentiment Sharply Lower in Early May
“Consumer sentiment sank in early May and is consistent with prior recessions. Inflation is a driver of weakening consumer attitudes and contributing to elevated risks. The outlook is highly uncertain.” ~ Robert Hughes
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Rent Selling Countries are More Corrupt and Less Wealthy
“The real cronies are those who demand and supply interventionism. Despite their claims, they can’t get money out of politics, or reduce corruption, because they’re so eager to inject politics into money-making.” ~ Richard M. Salsman
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Rescuing “Virtue and Talents” Amidst the War on Tests
“Perhaps the solution to our current quagmire has been hidden in plain sight the whole time—embrace standards and return to merit-based admissions. MIT gets it and more should follow.” ~ Wenyuan Wu
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Hatred Will Destroy You: What the Holodomor Teaches Us Today
“When any person harbors hatred, their own humanity is destroyed. In Grossman’s words, ‘looking at his victim as other than human, he ceases to be human himself. He executes the human being inside his own self; he is his own executioner.’” ~ Barry Brownstein
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Weekly Initial Claims Have Started to Trend Higher but Remain Below the Pre-Pandemic Level
“Weekly initial claims have trended slightly higher recently but continue to suggest a very tight labor market. The Russian invasion of Ukraine, renewed lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes
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Can We Revive the Old Constitution?
“The New Deal constructed numerous federal departments and agencies to regulate the private sector for general, nebulous ends. In effect, we received a new constitution.” ~ Richard M. Reinsch II
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•
Which Economists Should Have Gotten Nobels Before They Died?
“None of them won the profession’s ultimate honor, however, even though all were deserving. As more and more deserving economists move into their 70s, 80s, and 90s, I can only hope this list doesn’t get longer.” ~ Art Carden
-
•
Book Review: Peter Ward’s ‘The Price of Immortality’
“The Price of Immortality is in so many ways a deceptive title. Peter Ward’s readers deserve better, his subject deserves much better, plus the publisher should respect his readers more.” ~ John Tamny
-
•
A Drinking Man’s Guide to Monetary Policy
“Just like drinking, expansionary monetary policy can provide a temporary (or transitory) high at first (faster real output growth and reduced unemployment). However, the ill effects come later (in an inflation “hangover”).” ~ Gary M. Galles
-
•
As the World Gets Messier and Messier
“Fukuyama made the philosophy of history relevant again. Thirty years on, is that philosophy vindicated? What moves and shakes the world?” ~ Graham McAleer
-
•
Inflation Fears Send Consumer Sentiment Sharply Lower in Early May
“Consumer sentiment sank in early May and is consistent with prior recessions. Inflation is a driver of weakening consumer attitudes and contributing to elevated risks. The outlook is highly uncertain.” ~ Robert Hughes
-
•
Rent Selling Countries are More Corrupt and Less Wealthy
“The real cronies are those who demand and supply interventionism. Despite their claims, they can’t get money out of politics, or reduce corruption, because they’re so eager to inject politics into money-making.” ~ Richard M. Salsman
-
•
Rescuing “Virtue and Talents” Amidst the War on Tests
“Perhaps the solution to our current quagmire has been hidden in plain sight the whole time—embrace standards and return to merit-based admissions. MIT gets it and more should follow.” ~ Wenyuan Wu
-
•
Hatred Will Destroy You: What the Holodomor Teaches Us Today
“When any person harbors hatred, their own humanity is destroyed. In Grossman’s words, ‘looking at his victim as other than human, he ceases to be human himself. He executes the human being inside his own self; he is his own executioner.’” ~ Barry Brownstein
-
•
Weekly Initial Claims Have Started to Trend Higher but Remain Below the Pre-Pandemic Level
“Weekly initial claims have trended slightly higher recently but continue to suggest a very tight labor market. The Russian invasion of Ukraine, renewed lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes
-
•
Can We Revive the Old Constitution?
“The New Deal constructed numerous federal departments and agencies to regulate the private sector for general, nebulous ends. In effect, we received a new constitution.” ~ Richard M. Reinsch II