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The Real Cause Of American Growth

by Richard A. Epsteinvia Defining Ideas (Hoover Institution)
Monday, February 29, 2016

A popular new book inexplicably ignores how laissez-faire capitalism drives innovation.

Analysis and Commentary

Why Minimum Wages Can Take Time To Destroy Jobs

by David R. Hendersonvia EconLog
Sunday, February 28, 2016

Jonathan Meer and Jeremy West have found that increases in the minimum wage destroy jobs, not so much by destroying current jobs as by reducing the growth rate of new jobs.

Analysis and Commentary

Reverse Swing: Dear Mr Modi, More Growth, Less Hindutva

by Tunku Varadarajanvia Indian Express
Sunday, February 28, 2016

The ruling party should leave secularism alone. Economic reform is what will save India from itself.

Analysis and Commentary

Should The U.S. Adopt A Value-Added Tax?

by David R. Hendersonvia Wall Street Journal
Sunday, February 28, 2016

Supporters say a VAT can be good for economic growth. Critics say it encourages wasteful government spending.

Featured

China’s Volatile Growth

by Michael Spence, Fred Huvia Project Syndicate
Sunday, February 28, 2016

Uncertainty about China’s economic prospects is roiling global markets – not least because so many questions are so difficult to answer. In fact, China’s trajectory has become almost impossible to anticipate, owing to the confusing – if not conflicting – signals being sent by policymakers.

In the News

Two-Percent Growth Is A Loser For The Angry Middle Class

quoting John H. Cochrane via CNBC
Friday, February 26, 2016

The good news is that the economy is growing at 2 percent and that there's no recession in sight (barring a complete collapse of profits). The bad news is that the economy is growing at 2 percent. It's been doing so for nearly 15 years under Democratic and Republican administrations.

Analysis and Commentary

Sanders Multiplier Magic

by John H. Cochrane via Grumpy Economist
Friday, February 26, 2016

The critiques of Gerald Friedman's analysis of the Sanders economic plan continue. The latest and most detailed and careful so far is by David and Christina Romer.

Analysis and Commentary

Is There Objective Truth?

by David R. Hendersonvia EconLog
Thursday, February 25, 2016

Short answer: Yes.

Analysis and Commentary

Negative Rates And FTPL

by John H. Cochrane via Grumpy Economist
Thursday, February 25, 2016

I've devoted most of my monetary economics research agenda to the Fiscal Theory of the Price Level in the last two decades (collection here). 

Featured

A Crucial First Step To Reignite The California Dream

by Carson Brunovia Real Clear Markets
Thursday, February 25, 2016

It is no secret that the Silicon Valley-Bay Area has been and will continue to be crucial to California's economic recovery. The sudden lack of diversification in the Golden State's economy will be a serious challenge when the next economic downturn occurs, or if the major policy threats facing the Silicon Valley-Bay Area - such as housing unaffordability, onerous business regulations, and high taxes - are not addressed.

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Economic Policy Working Group

 
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple