Daily Economy Articles

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.
Monday, June 3, 2019
If members of some group feel excluded from the financial sector, regulators should allow them to form their own financial institutions and give it a go in the marketplace.
Monday, June 3, 2019
The U.S. has chosen to attack arguably the most creative and powerful and best-led capitalist company in China.
Monday, June 3, 2019
A bank charter has been granted to The Narrow Bank in Connecticut. But the idea of narrow banking is not new.
Sunday, June 2, 2019
Countless minds and countless hands have contributed to the slow march of civilization and helped to create a modern world (one fraught with problems, which I don’t minimize) in which I can perform innumerable operations closed off to previous generations without thinking about them.
Friday, May 31, 2019
Consumer attitudes were generally upbeat in May, supported by a strong labor market, but escalating trade wars and higher tariffs are having a significant negative impact.
Friday, May 31, 2019
This night he became a preacher of goodness, of civility, of moral strength in the face of struggle. The poetry of it all, and the promise that goodness and decency can prevail, was manifest in the crowds and the city right here, this night, in Budapest. It combined to inspire him to find the...
Friday, May 31, 2019
To reduce inflation and keep the Argentine peso stable going forward, the Macri administration adopted an inflation-targeting regime. But, just 26 months after its implementation in September 2016, the inflation-targeting regime had failed. What went wrong?
Thursday, May 30, 2019
Initial claims remain very low in May, but revised data still show a poor performance for private domestic demand in the first quarter. Though economic data are still somewhat mixed, some recent positive signs are emerging.
Thursday, May 30, 2019
Unlike marvelously created made-for-television episodes where someone usually emerges victorious, in trade wars, everyone loses.
Thursday, May 30, 2019
Financial Exclusion is my nineteenth book and the vetting, editing, and publishing processes with AIER far surpassed those of the commercial and university presses I have published with previously.
Thursday, May 30, 2019
Chernobyl is a story of a grievous disaster that had untold human and natural cost; no one intended the nuclear disaster to occur. But it is more importantly a story of how the culture of fear bred by totalitarianism made a mistake unconscionably worse.
Thursday, May 30, 2019
In a new NBER working paper, Felipe Benguria and Alan M. Taylor consider whether financial crises usually stem from the demand or supply side of the market.
Thursday, May 30, 2019
As with other matters, decentralization could be key in making things better — not only because it would benefit immigrants who want to move here to work, but also because Americans would reap the benefits of a prosperous economy.
Wednesday, May 29, 2019
Even a young child understands, without need of further elaboration, that no action is rendered acceptable simply because lots of other people do it.  
Wednesday, May 29, 2019
The video AIER is putting together with the highest professional standards seeks to present both their views fairly and accurately but in a way that it is entertaining and informative. It will inspire further study and a real dedication to ideas.
Tuesday, May 28, 2019
Forcing social media sites to “disappear” or be broken up is one of the worst ways to deal with these concerns.
Tuesday, May 28, 2019
Because economics is more complex than most of what’s studied in the natural sciences, no set of rules of inquiry will ever fully eliminate the need for judgment calls by the researcher. And judgment calls are where our biases truly have teeth.
Tuesday, May 28, 2019
The danger that individuals often put themselves in comes at a public cost.
Tuesday, May 28, 2019
The progressive zeal for higher taxes is distorting how they construct inequality statistics.
Tuesday, May 28, 2019
The end goal of our planning paternalists is the command economy.
Tuesday, May 28, 2019
A new type of financial institution could take root in the U.S. But the Federal Reserve seems determined to prevent this from happening.
Tuesday, May 28, 2019
These easy-to-assemble retail kiosks aren’t just a great example of the market’s ingenuity, they are also proof that the market provides an answer to customers’ needs, even if these needs are the product of artificial barriers imposed by the government.

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