growth of government
american individualism
evolving democratic capitalism
fiscal responsibility
February 1, 2011 | Cafe Hayek

Robert Samuelson misunderstands

Writing in The Wilson Quarterly, Samuelson weighs the left and the right’s explanations of the crisis and finds them both wanting...But Samuelson misunderstands the important difference between creditors and equity holders...
January 31, 2011 | Economics One

More on a Two-Track Plan to Restore Growth

The Wall Street Journal’s choice of a headline for my op-ed last Friday “A Two-Track Plan to Restore Growth,” was a great way to pair the proposed fiscal reform with the proposed monetary reform...
January 26, 2011 |

Financial Crisis Inquiry Commission op-ed

Tomorrow the Financial Crisis Inquiry Commission will send its majority report and two dissenting views to the President and the Congress...Until then, here is a Wall Street Journal op-ed that is online now and will appear in tomorrow’s print edition...
January 19, 2011 |

Financial Crisis Inquiry Commission: A Dissent Coming Soon

Financial Crisis Inquiry Commission Chairman Phil Angelides has announced that the commission’s report will be released next Thursday, January 27th. I voted against the majority report and filed a dissenting view...
January 19, 2011 | Cafe Hayek

The Crazy Housing Market

[W]hen we talk about why the housing went crazy between 1997 and 2007, let’s not stick with interest rates, capital flows, and animal spirits. Let’s remember the role of bad economic policy in the housing market and the financial sector...
January 18, 2011 | Cafe Hayek

Corrupt cronies

What we are living through now is the continuing of the looting process. Get the government out of the banking business. The process is corrupt. The cronies are winning. You and I are losing...
January 14, 2011 | Economics One

Higher Investment Best Way to Reduce Unemployment, Recent Experience Shows

Some economists argue that the efforts now underway to reduce government spending as a share of GDP will have adverse effects on unemployment. This is not what the data show...
January 9, 2011 | Works and Days

Obama—Making it up as we go along

Obama reminds me of a lot of graduate school professors who had no syllabi and no plan of instruction. Instead they would wing it, and lecture, sermonize, and remonstrate until about week six into the semester...
January 7, 2011 | Thoughtful Ideas

Bernanke is (Indirectly) Printing Money

Technically speaking, Bernanke is not pressing the button...But the growth in the fed’s balance sheet from $930 billion on August 8, 2007, to $1.53 trillion on October 1, 2008, to $2.43 trillion at the end of 2009 surely helped fuel the demand for high-denomination notes...
January 4, 2011 | Cafe Hayek

The Test

Suppose the economy does well this year–growth is robust and unemployment falls. What is the reason for the improvement...?