“While we should not stubbornly insist on first-best policy if the second-best is all we can get, neither should we ignore the question of which policy is first-best. As long as we are reconsidering the Fed’s mandate, nominal GDP targeting should be on the table.” ~ Alexander William Salter
READ MORE“While these cars may not be perfect, that would only mean they are well-suited for planet earth, where perfection only exists among the Platonic forms—and in the minds of D.C. regulators.” ~ Caleb S. Fuller
READ MORE“Scott Beyer’s Market Urbanism offers welcome analysis and policy solutions, clearly explaining how free market alternatives can make our cities better for all their citizens.” ~ Robert F. Mulligan
READ MORE“A target that is not determined solely by the Federal Reserve is less subject to changes solely due to deliberations at the Federal Reserve. It will enhance monetary policy’s effectiveness.” ~ Gerald P. Dwyer
READ MORE“Unemployment, for good reason, lags the onset of recessions. And assuming that a widespread burst in employment categorically signifies optimism or portends a quick resumption of economic growth is simply unwarranted.” ~ Peter C. Earle
READ MORE“According to Reich, higher prices are due to the pandemic, which suppressed demand and created global supply chain problems, together with Russia’s invasion of Ukraine, China’s overzealous lockdown policies, and of course, capitalist greed.” ~ Robert F. Mulligan
READ MORE“Energy cost doesn’t put a floor under the price. Instead, it is the price that influences the energy cost. The price of bitcoin is just about supply and demand. Same as it ever was.” ~ Joshua R. Hendrickson
READ MORE“A good monetary rule does not only identify an appropriate course of action in advance. It also requires monetary policymakers to take that course and, in doing so, reduces the uncertainty businesses and consumers face.” ~ Nicolás Cachanosky
READ MORE“Whatever particular objections might be raised to legalization of the likes of prostitution or the selling of transplantable body organs, clarity of thought is enhanced by recognizing that the prohibitions in question are really price ceilings of $0.” ~ Donald J. Boudreaux
READ MORE“We’ve advanced little beyond the classical-liberal prescriptions of free markets, sound money, and peace. ‘Keep it simple, stupid,’ is good enough for government work.” ~ Alexander William Salter
READ MORE“The reality is that the reason many use the flawed rule is because all other alternatives seem to be worse. As such, politicians and pundits who try to downplay talks of a recession by mentioning the flawed rule may be politically, and not economically inclined.” ~ Vincent Geloso
READ MORE“So how do we get from a republic to a democracy, and how does democracy become a kakistocracy during a period when democracy is so highly praised?” ~ Gary M. Galles
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