Daily Economy News

Enough of this Idea of Presidential Greatness

– February 23, 2020

What constitutes a great president? Every presidential election, pundits and commentators opine on the characteristics of presidents that made them great. Starting in 1948, at the impulse of Arthur Schlesinger Sr. of Harvard University, historians have …

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Kenneth Arrow and the Odd Form of Dictatorship He Helped Create

– February 23, 2020

It may be time to reconsider some of the foundations of economic theory. When we do, Arrow’s prominent role in the history of economics should be reconsidered too.

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Are We Seriously Debating Capitalism vs. Socialism Again?

– February 22, 2020

Socialism is a movement not of the working classes but of the elites, born of arrogance, snobbery, and preposterous pretense, kept alive not from lived experience but the astonishing capacity of an ideologically soaked brain to live in denial of reality.

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Existing home sales

Existing-Home Sales Remain Range Bound; Inventory Remains Tight

– February 21, 2020

Existing-home sales fell 1.3 percent in January and remain in a broad flat trend. Housing activity is unlikely to move significantly higher in the coming months.

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The Implausible Claims of Green High Finance

– February 21, 2020

It is highly doubtful that having a central bank selectively buy outstanding debt with green labels would in any meaningful way contribute to a greening of the economy.

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Cuckoo for Marginalism

– February 21, 2020

When I was a kid, I would ask my mother if she likes this cereal, that song, or this soft drink.  She would often reply in her droll way: “I wouldn’t want a steady diet of it.” I came to conclude that this really meant that she didn’t like it. …

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Unlike Oren Cass, F.A. Hayek Knew the Economics of Trade

– February 20, 2020

Quoting F.A. Hayek’s 1960 claim that free markets will bring about a “balance … between exports and imports,” Oren Cass argues that the string of annual U.S. trade deficits over the past 44 years proves that Hayek was wrong – that history has “broken” …

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Why We Must Keep Section 230 and Pay the High Cost of Free Speech Online

– February 20, 2020

One can’t pretend the internet hasn’t made the dark side of free speech more dangerous. But rather than a censor, it’s time for a gut check.

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The “Paradox of Thrift” Myth Is Back, Again

– February 20, 2020

This is nothing but the classic case of the damage of a little learning: the overwhelming majority of people who study economics at all take a single economics class, espousing a single economic perspective, which leads to the pervasive spread of pernicious ideas.

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Why Is Maduro Pushing the Petro?

– February 20, 2020

Why would the Venezuelan government prefer the petro? Three reasons stand out.

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