Daily Economy
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Labor Market Shows Resilience in November
A strong November jobs report suggests support for consumer spending and continued economic expansion, though erratic policies could weigh on consumer and business confidence.
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What’s Gone Wrong with the Aramco IPO?
Imagine for a moment, the following: In an industry with global demand there is one organization that has the following advantages. It has the lowest cost of production for its product, exported and used by every country on the planet, and is part of a publicly recognized and accepted price fixing cartel that can counteract…
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Richard Nixon & the Myth of Independent Fed Policy (Video)
Amity R. Shlaes presents “On the Legacy of American economist and former Chair of the US Federal Reserve, Arthur Burns, during the Keynesian Revolution” at the American Institute for Economic Research Annual Meeting of Voting Members 2019. Current Chair of the Federal Reserve, Jerome Powell, famously claimed Marriner S. Eccles “had created a central bank…
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The Impossibility of Negative Rates
The economics discussion would be greatly enhanced if it were better understood that underlying all spending, selling, saving, lending, borrowing, and investing is an exchange of products, services or labor. Real things are always and everywhere being moved around when “money” changes hands. It cannot be stressed enough that “money” is just an agreement about…
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Alexander Hamilton, the Other Tariff Man Who Created a Mess
One of the many unsettling features of Donald Trump is his deep-seated antipathy to the time-honored doctrine of free trade. Even as early as 2016, Trump devoted a substantial portion of his Republican Convention speech calling for the adoption of protectionist tariffs and other trade restrictions against “any country that cheats.” He proceeded to blame…
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Five Things No One Asked About the Impeachment — but Should Have
The impeachment proceedings against President Trump have fueled all manner of conjecture regarding the proper discharge of foreign policy, hidden motives behind both Trump’s phone call and the ensuing investigation, and everything from the dead-cat bounce of the Mueller Report to the Kurdish policy shift. But there are a number of questions that, while they…
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A Cautious Retrospective on Bitcoin
Bitcoin could still go to the moon. But there are plenty of reasons to believe the opposite too. The most likely immediate future is that Bitcoin will continue brilliantly to service a special type of need.
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November Services-Sector Survey Perpetuates Doubts
The nonmanufacturing sector expanded in November, but the mixed results and near-neutral level of the composite index perpetuates doubts about the strength of the economy.
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•
Ending Internal Passports Was a Victory of Liberalism. It is Slipping Away
We should never take the victories of previous generations of liberals for granted. Free movement is one of those.
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•
Socialism and the Green New Deal are Economically Impossible
The marginal decisions and calculations necessary for rational economy do not go away even under a “moral equivalent to war” to defeat global warming.
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•
Labor Market Shows Resilience in November
A strong November jobs report suggests support for consumer spending and continued economic expansion, though erratic policies could weigh on consumer and business confidence.
-
•
What’s Gone Wrong with the Aramco IPO?
Imagine for a moment, the following: In an industry with global demand there is one organization that has the following advantages. It has the lowest cost of production for its product, exported and used by every country on the planet, and is part of a publicly recognized and accepted price fixing cartel that can counteract…
-
•
Richard Nixon & the Myth of Independent Fed Policy (Video)
Amity R. Shlaes presents “On the Legacy of American economist and former Chair of the US Federal Reserve, Arthur Burns, during the Keynesian Revolution” at the American Institute for Economic Research Annual Meeting of Voting Members 2019. Current Chair of the Federal Reserve, Jerome Powell, famously claimed Marriner S. Eccles “had created a central bank…
-
•
The Impossibility of Negative Rates
The economics discussion would be greatly enhanced if it were better understood that underlying all spending, selling, saving, lending, borrowing, and investing is an exchange of products, services or labor. Real things are always and everywhere being moved around when “money” changes hands. It cannot be stressed enough that “money” is just an agreement about…
-
•
Alexander Hamilton, the Other Tariff Man Who Created a Mess
One of the many unsettling features of Donald Trump is his deep-seated antipathy to the time-honored doctrine of free trade. Even as early as 2016, Trump devoted a substantial portion of his Republican Convention speech calling for the adoption of protectionist tariffs and other trade restrictions against “any country that cheats.” He proceeded to blame…
-
•
Five Things No One Asked About the Impeachment — but Should Have
The impeachment proceedings against President Trump have fueled all manner of conjecture regarding the proper discharge of foreign policy, hidden motives behind both Trump’s phone call and the ensuing investigation, and everything from the dead-cat bounce of the Mueller Report to the Kurdish policy shift. But there are a number of questions that, while they…
-
•
A Cautious Retrospective on Bitcoin
Bitcoin could still go to the moon. But there are plenty of reasons to believe the opposite too. The most likely immediate future is that Bitcoin will continue brilliantly to service a special type of need.
-
•
November Services-Sector Survey Perpetuates Doubts
The nonmanufacturing sector expanded in November, but the mixed results and near-neutral level of the composite index perpetuates doubts about the strength of the economy.
-
•
Ending Internal Passports Was a Victory of Liberalism. It is Slipping Away
We should never take the victories of previous generations of liberals for granted. Free movement is one of those.
-
•
Socialism and the Green New Deal are Economically Impossible
The marginal decisions and calculations necessary for rational economy do not go away even under a “moral equivalent to war” to defeat global warming.