Research | Page 19

India’s Demonetization Experiment

In a recent blog post on Alt-M, an alternative money website, Lawrence H. White, a senior fellow at the Cato Institute and professor of economics at George Mason University, discussed how two groups—Baptists and bootleggers—have largely become one and the same. He referred to the two types of groups that tend to spearhead prohibitions, the former on ethical grounds, and the latter with the goal of eliminating legal competition. In the blog post, the prohibition he is concerned about is on the use of cash.

Blockchain: Changes Coming to Wall Street?

New technology can both disrupt and entrench existing large and powerful players in a market. In a previous article, I explained the importance of blockchain technology. A blockchain is a type of database that is distributed to all users without a centrally managed hub and that stores unalterable digital records. It is most commonly known today as the technology underlying bitcoin, keeping records of the cryptocurrency’s ownership and allowing ownership to be transferred.

The Housing Market Does Not Need Stimulus from the FHA

At the height of the housing bubble in 2005, both existing and new home sales reached all-time highs—7 million for existing home sales for the year and nearly 1.4 million for new home sales. To put the housing bubble in perspective, new home sales increased three-fold from their low in 1991 to their high in 2005. Home prices as measured by the Standard & Poor’s Case-Shiller Home Price Index rose more that 200 percent between the mid-1990s and the height of the housing bubble.

Venezuela: Socialism, Hyperinflation, and Economic Collapse

The socialist Bolivarian Revolution in Venezuela led by its late president, Hugo Chávez, appears to have failed. The Venezuelan economy has collapsed and hyperinflation has

Federal Spending Varies Little Per Person, but Some States Depend on it More

How does federal money get distributed to the states, and where does it go? This is a question that has been looked at recently by

Innovation’s Double Sword: Four Case Studies

Over the past year, I’ve had the opportunity to supervise four college students from local colleges who interned at AIER. Under my supervision, each of

Immigration Restrictions Harm Our Economy

In an article published in AIER’s January 1996 Research Report, Thomas Lehman wrote, “The present immigration policy of the United States amounts to nothing less

Money, Inflation, and Rising Prices: What Are the Risks for the Short-term Outlook?

Col. E.C. Harwood, AIER’s founder, was a staunch defender of the gold standard and a harsh critic of fiat money, or money that the government

Food, Energy, and Health Care Lead Everyday Prices Higher

AIER’s monthly Everyday Price Index rose 1 percent in January led by food, energy, and health-care prices. The EPI measures price changes that people see

February Business Conditions Monthly

The U.S. economy performed solidly in 2016, according to the latest data from the Bureau of Economic Analysis. Our index of Primary Leading Indicators also remained well into expansionary territory in the latest month, suggesting a low risk of recession in the months ahead. With the Federal Reserve’s slow approach to a tightening monetary policy, the greatest risk is that we don’t know what to expect from Trump administration policies.

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