Hoover Institution fellow John Cochrane argues the central bank was right to keep interest rates near zero.

Hoover Institution fellow Thomas Sowell discusses Ronald Reagan, which GOP candidates impress him and the markets and Fed.

One of the central questions of the current Republican presidential campaign is when potential candidates will talk about important issues of political economy.

The “real-bills doctrine” was roundly rejected by postwar monetary theorists of both the Chicagoan and the Austrian perspectives (Lloyd Mints 1945, Ludwig von Mises 1949). But George Selgin (1989) was right to warn us that “it would be a mistake to think of the real-bills doctrine as a ‘dead horse’” because “dead horses of economic theory have a habit of suddenly springing back to life again.”