“Perhaps an Orangeopian union or minimum wage can at least decrease income inequality, or maybe even increase the per capita standard of living?” ~Bruce Rottman
READ MORE“Almost every imaginable economic indicator was sharply affected by the pandemic. But in just the past year, both college enrollment and teenage labor force participation show signs of what may be to come.” ~ Edward Lopez and Kevin Lavery
READ MORE“In 1970, when Guy Drake wrote ‘Welfare Cadillac,’ one could argue that we hadn’t yet given welfare a chance. Today, there is no such excuse.” ~ Jon Miltimore
READ MORE“Regulations such as the Endangered Species Act, wetlands regulations, and coastal zone management laws may have desirable end goals from one point of view, but invariably make housing more expensive.” ~ Craig Richardson
READ MORE“The price system worked exceptionally well precisely because the Fed had successfully established a credible nominal anchor. As a result, the economy could sustain a historically low unemployment rate.” ~ Bryan P. Cutsinger
READ MORE“The US economy looks to be pointed in a troubling direction. Federal unemployment data shows record low unemployment, but state-level data paints a different picture: one where the current ‘stagflation lite’ conditions could soon become fully stagflationary.” ~ Peter C. Earle
READ MORE“Without a symmetric response to deviations from the target, the Fed’s so-called average inflation target will not produce 2 percent inflation on average. Instead, it will tend to produce inflation that exceeds 2 percent. That’s a far cry from price stability.” ~ Alexander William Salter
READ MORE“Every attempt by government to ‘stimulate the economy’ intensifies employers’ and workers’ expectations that slowing sales and losses of jobs will be cured by government-engineered increases in aggregate demand.” ~ Donald J. Boudreaux
READ MORE“The real impact of recession is felt directly on the unemployed and their families, in lost income, lost opportunities, and a host of social problems, including impaired mental health, domestic violence, and substance abuse.” ~ Robert F. Mulligan
READ MORE“When will the Federal Reserve begin to unwind its balance sheet this time? If the meeting minutes indicate the trajectory of policy, reductions will begin within the next two years.” ~ James L. Caton
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