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Federal Reserve chair Janet Yellen.
In the News

Janet Yellen's Dilemma: A Downturn With No Easy Response

quoting John H. Cochrane via Fortune
Friday, February 12, 2016

The Federal Reserve’s carefully scripted decision to raise interest rates last December, and begin a return to “normal” policy, may now become a nightmare for the U.S. central bank if an economic downturn forces a return to unconventional methods.

In the News

Central Banks Are Trojan Horses, Looting Their Host Nations

quoting Thomas J. Sargentvia Global Research (Canada)
Friday, February 12, 2016

A Nobel prize winning economist, former chief economist and senior vice president of the World Bank, and chairman of the President’s council of economic advisers (Joseph Stiglitz) says that the International Monetary Fund and World Bank loan money to third world countries as a way to force them to open up their markets and resources for looting by the West. Do central banks do something similar?

Analysis and Commentary

Are Wall Streeters Worth The Money? Just Ask Counterparts Elsewhere

by Paul R. Gregoryvia Investor's Business Daily
Friday, February 12, 2016

Pity Wall Street. The Democratic Party’s presidential candidates have painted a bull’s-eye on its back. Bernie Sanders wants to nationalize it. Hillary Clinton joins in the feeding frenzy, lest she and her husband’s ties to Goldman Sachs and other institutions become a bigger issue.

Analysis and Commentary

What's The Right Minimum Wage?

by David R. Hendersonvia Prager U
Monday, October 27, 2014

What's the perfect minimum wage: is it $10 an hour? $15? $20? How about zero? That's right. Zero. While Congress discusses a minimum wage hike, economist David Henderson shows that any minimum wage makes it harder for unemployed people (particularly young people) to find work, and forces business owners to cut the hours of lower-skilled employees.

Milton Friedman
Analysis and Commentary

Milton Friedman On Trumbo

by David R. Hendersonvia EconLog
Sunday, February 14, 2016

On a flight from Newark to L.A. on Thursday, I saw the movie Trumbo. I liked it a lot. I know that they left out things that would have made Trumbo a much less sympathetic character. The only real discussion of the meaning of Communism, which he supported, is his "explanation" to his daughter that if she is willing to share her lunch with someone who doesn't have any, then she is a Communist.

Analysis and Commentary

Play The Hand You're Dealt

by David R. Hendersonvia EconLog
Friday, February 12, 2016

I have a few mottos in life. The title of this post is one of them, and it has served me well. It sounds obvious. What other kind of hand could you play? None. But what you can do is complain about the hand you're dealt. And that normally does either zero good or negative good, i.e., bad. The bad part is that it can distract you from making the best of an imperfect situation.

Analysis and Commentary

The Libertarian Case For Bernie Sanders

by John H. Cochrane via Grumpy Economist
Friday, February 12, 2016

The Libertarian Case for Bernie Sanders, from Will Wilkinson at the Niskanen Center. Yes, Denmark scores much above the US on ease of doing business indices. An interesting case. A welfare state is not necessarily a politicized regulatory state, with strong two-way political-industry capture.

In the News

Five Economic Mysteries That Puzzle Today

quoting Michael J. Boskinvia Fortune
Friday, February 12, 2016

Some takeaways from a chance to quiz four of the smartest economists.

Blank Section (Placeholder)Featured

Fed Up With The Fed

by Allan H. Meltzervia Defining Ideas
Wednesday, February 17, 2016

If Congress forces the bank to follow a rule rather than its own discretion, the economy will flourish. 

Federal Reserve chair Janet Yellen.
In the News

Yellen's Dilemma: A Downturn With No Easy Response

quoting John H. Cochrane via Reuters
Friday, February 12, 2016

The U.S. Federal Reserve's carefully scripted decision to raise interest rates last December, and begin a return to "normal" policy, may now become a nightmare for the central bank if an economic downturn forces a return to unconventional methods.

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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