Daily Economy

Monday, June 25, 2018
The Fed has a lot of policy tools, to be sure. But, traditionally — that is, when the Fed was operating in a corridor system — it exerted influence on the FFR primarily through its open-market operations.
Sunday, June 24, 2018
In their admirable quest to be scientific, most economists not-so-admirably mistake what looks like science for actual science.
Saturday, June 23, 2018
Economic nationalism, characterized by restriction on trade and migration toward the goal of political control, has a different sales pitch and cultural feel from the central planning of generations past. But it is no less an attack on free enterprise, industrial rivalry, and consumer control of...
Friday, June 22, 2018
Instead of addressing misconceptions and increasing public understanding of cryptocurrencies, the Netflix-Vox documentary repeats scare-mongering that has been the staple of shallow tech journalism.
Thursday, June 21, 2018
Despite all the rhetoric, the debate over immigration isn’t really about human rights, economics, national security, or even culture change. Immigration policy has become an extension of national politics. Whoever wins gets to control the presidency. The people have become the fodder in a war for...
Wednesday, June 20, 2018
Sales of existing homes fell 0.4 percent in May to a 5.43 million-unit annual rate versus a 5.45 million pace in April, according to the National Association of Realtors. Sales have been in a flat trend recently, held back by limited inventory.
Wednesday, June 20, 2018
A recent NBER working paper studies what shapes Federal Open Market Committee member opinions.
Wednesday, June 20, 2018
It’s hard to say with a straight face that Bitcoin is “the stable cryptocurrency,” but compared to its cousins, its wild price swings are a little less wild.
Tuesday, June 19, 2018
The Howey Test is legacy content from our civilization past, same as Morse Code, the horse-drawn plow, and the presidential fireside chat. We’ve moved on. At least we are trying to.
Tuesday, June 19, 2018
Unlike past personal-transportation fads, electric-assisted, rented mobility devices appear to be here to stay, as they have quickly carved out a niche in the American urban transportation market.
Tuesday, June 19, 2018
In the case of Argentina, three particular problems call into question the “surprise” explanation of the currency crisis.
Monday, June 18, 2018
If we are concerned about the rise of the ginormous corporation, and perhaps we should be, why not start with lowering barriers to entry, removing regulations, cutting more taxes, blasting away expensive mandates and litigation landmines? If we work toward a truly laissez-faire environment for...
Saturday, June 16, 2018
It’s the 295th birthday of Adam Smith, champion of trade and the philosophical mastermind who explained the end of the old world and the beginning of the new. And yet, on this day, after so many centuries of intellectual work to promote free trade, a trade war is upon us.
Friday, June 15, 2018
The United States is losing her appeal to international students. Once accounting for nearly half of students worldwide, the number now constitutes 24 percent. 
Thursday, June 14, 2018
Chicago's poor economic performance is prompting state lawmakers to discuss its secession from Illinois.
Thursday, June 14, 2018
AIER’s Business Cycle Conditions Leading Indicators index posted its third-straight 100 in May as all 12 individual indicators continue to expand. The Roughly Coincident Indicators index also registered its third consecutive perfect 100 and its 12th 100 in the past 15 months. The Lagging Indicators...
Thursday, June 14, 2018
Retail sales posted the third strong monthly gain in a row following weak performances in January and February. Combining these data with strong readings from the AIER Leading Indicators index, the outlook for the economy remains upbeat.    
Thursday, June 14, 2018
Does the rise of big data make Marx’s centrally planned utopia feasible? The answer is a big no.
Wednesday, June 13, 2018
As Bourdain himself says at the outset, with the focus on food and cooking, we can see what it is that drives daily life among the Haitian multitudes. He takes viewers to Port-au-Prince, Haiti. Through this micro lens, we gain more insight than we would have if the program were entirely focused on...
Wednesday, June 13, 2018
The era of monetary cosmopolitanism was brief. But its effect on human welfare was enormous.