Daily Economy Articles

Friday, June 14, 2019
The administration’s lack of principles opens wide the door for the Democrats in Congress not only to introduce an overtime bill that goes far beyond the Trump rule but also beyond even the Obama ceiling. And as expected, they just jump at the chance to do just that.
Friday, June 14, 2019
AIER’s Leading Indicators index rose 12 points to a neutral reading of 50 in May, up from 38 in April. The Roughly Coincident Indicators index and the Lagging Indicators index both fell, to 75 and 42, respectively (see chart). May is the second consecutive month of improvement for the leaders index...
Friday, June 14, 2019
Because this is a tool the president can actually use — and because it bypasses the much more difficult task of having to persuade Congress of the merits of his ideas — Trump is using the tariff weapon more and more to address matters further and further removed from trade.
Thursday, June 13, 2019
Almost everybody likes receiving services from the government. Almost nobody likes paying for them.
Thursday, June 13, 2019
To address this complicated problem, we must rely on innovation, diversification, decentralization, settled cultural norms, and individual discipline. Which is to say, we must rely on ourselves.
Thursday, June 13, 2019
The bad news is that along with great economic performance has come a good bit of silly, one might even call it stupid, regulation and proposals for regulation.
Wednesday, June 12, 2019
It’s a rare artist who elicits the kind of widespread emotional homage that Elton John is receiving right now, hopefully, many years before his career is really over.
Wednesday, June 12, 2019
AIER’s Everyday Price Index rose for the fourth consecutive month, posting a 0.4 percent gain in May versus a 0.2 percent gain in the Consumer Price Index. The EPI measures price changes people see in everyday purchases such as groceries, restaurant meals, gasoline, and utilities. The EPI is not...
Wednesday, June 12, 2019
In this he is no less of an economic tyrant than, say, Nicolas Maduro, the socialist dictator of Venezuela. He, too, rules by command and decree.
Wednesday, June 12, 2019
If the binding zero lower bound did not prolong the last recession, it may not prolong the next.
Tuesday, June 11, 2019
Dissatisfaction is baked into the human experience, keeping us all forever on the move, on the hunt, looking for the next thing. As tragic as this is, it is here we find the source of progress in the world, the unending search for a better life. And it is always a search, one that requires a social...
Tuesday, June 11, 2019
Small-business confidence rose in May while job openings remain at historically high levels in April. Both are positive signs for the economy despite the high level of uncertainty caused by erratic trade policy.
Tuesday, June 11, 2019
If there is a bright spot to the tariff war, it’s that the Fed has definitively exposed itself as a political body, less interested in economic growth than serving the interests of power.
Tuesday, June 11, 2019
It happened sometime after the crisis of 1847.
Tuesday, June 11, 2019
There are a lot of ways firms and workers can adjust to higher minimum wages without anyone actually losing his or her job.
Tuesday, June 11, 2019
The question is not if, but when and how reforms will come.
Monday, June 10, 2019
If we persist in reducing their brilliant progress to anything other than hard work being matched with freedom, we risk turning the biggest consumers of all things American against the United States. The economic consequences for the American people will be unfortunate.
Monday, June 10, 2019
Crony capitalism comes in different shapes and sizes, with policies like bailouts, trade barriers, tax credits, and subsidies all benefiting certain companies at the expense of their competitors.
Monday, June 10, 2019
Trump has pontificated on trade for decades, with words that reveal him as a clichéd economic nationalist.
Monday, June 10, 2019
Fed Chair Jerome Powell has suggested that Federal Reserve policy might not tighten as much as anticipated. He has also changed the regime that dominated the last decade of monetary policy.
Sunday, June 9, 2019
The Trump administration pulled back from the brink of disaster in trade relations with Mexico — but there is reason to doubt that this unusual display of good sense indicates a change in intellectual orientation, much less a lasting shift in policy. The man-made trade mess of the last year and a...
Friday, June 7, 2019
Every step of academic publication is fraught with practices that would drive away the customer base of any other industry. Is there a better alternative?
Friday, June 7, 2019
U.S. nonfarm payrolls added 75,000 jobs in May, pulling the four-month average down to 124,000. Employment is a coincident indicator and no one knows what will happen over the next year, but the weakness over the last four months suggests caution, not panic.
Friday, June 7, 2019
Just as innovators shouldn't have to ask the government for permission to bring new products to consumers, people who want to work and earn their livings by starting and running businesses shouldn't have to ask the government for permission to do so.
Friday, June 7, 2019
Without realizing it, and as brilliant as they may be, the candidates—like all of us—are still profoundly ignorant.
Friday, June 7, 2019
Money creation was far from excessive in the 1920s. More significant factors leading to the Great Depression include the monetary contraction that began in 1929 and the French repatriation of gold that started in 1927.
Thursday, June 6, 2019
The origin of money, the history of central banks, the operation and destruction of the gold standard, the rise of inflation and massive government debt, the disastrous bailouts of 2008 – it's all covered in an outstanding hour-long documentary appearing on PBS stations called In Money We Trust.
Thursday, June 6, 2019
Non-excludability is really just a technological problem, because the ability to charge and withhold access is beyond our reach, at least at reasonable cost. But that’s changing, fast.
Thursday, June 6, 2019
When Professor Stiglitz says that his neo-socialism is the only alternative to the failed neo-liberalism of our time, he is merely saying: let me impose upon you the economic planning schemes that I consider the good, fair, and just ones for you, in place of those other command-economy coercers who...
Wednesday, June 5, 2019
Reports from the Institute for Supply Management suggest continued economic expansion with elevated levels of concern over rising tariffs and shortages of labor.
Wednesday, June 5, 2019
Should these threatened tariffs come to pass, it will be hard to argue that we have seen a more anti-business U.S. President, from either party, in recent memory.
Wednesday, June 5, 2019
Far from fighting to supplant a prevailing ideology for our age, “neoliberalism’s” critics appear to be battling a phantasm of their own imagining.
Wednesday, June 5, 2019
The problem with constrained discretion is that it leaves up to central bankers the decision when to switch from rule-like behavior to discretionary behavior.
Tuesday, June 4, 2019
Auto sales rose in May, and weekly data suggest consumer spending is solid. However, factory orders were weak in April. Currently, there is little hard data to suggest a recession is imminent. The outlook remains cautiously optimistic.
Tuesday, June 4, 2019
No matter one’s opinions on antitrust and big business, arguing that the big tech companies’ primary impact on our economy and lives has been anything but positive and even revolutionary is difficult.
Tuesday, June 4, 2019
Because the American government is democratically elected, there’s a widespread presumption that the actions of this government are, as a rule, the best ones possible. Yet this presumption is mistaken.
Tuesday, June 4, 2019
What preferences do you want? In traditional neoclassical economics, that’s a nonsense question, because preferences are taken as idiosyncratic, fixed, and exogenous. Of course, that’s only a modeling assumption; no one really claims that’s descriptively accurate.
Tuesday, June 4, 2019
The greatest risk to the US dollar may, in fact, come from within. The imposition of tariffs and sanctions create an opportunity for other countries to engage in bilateral trade. The decision to withdraw from the free trade initiatives such as the TPP and T-TIP weakens not only the prospects for US...
Monday, June 3, 2019
History will always remember President Lyndon Johnson for his escalation of the war in Vietnam, which turned into an unwinnable and tragic entanglement against a foe he did not understand. Sadly, with over fifty years of hindsight, one must judge Johnson’s War on Poverty in much the same way.
Monday, June 3, 2019
To lose faith in the power of changing hearts and minds is to lose faith in the deliberative and peaceful process of social change.

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