american individualism
evolving democratic capitalism
economic prosperity
societal values
rule of law
May 2, 2012 | Economics One

Debate and Evidence on the Weak Recovery

Last week’s GDP release is yet more evidence that this recovery has been remarkably weak, and has been so from the start...
April 3, 2012 | What Paul Gregory Is Writing About

The Euro Crisis Is Over but No One Told me

Imagine that the two major Greek parties lose to the nationalists, communists, and other splinter parties, the Spanish conservative government dilutes austerity, and the stimulus-inclined socialists win in France. Those saying the crisis is over would be proven fools...
March 31, 2012 | Economics One

Policy Failure and the Great Recession

The debate about the causes of the financial crisis and the great recession will continue for many years, and the facts and analysis that Robert Hetzel put forth in his new book The Great Recession: Market Failure or Policy Failure? should now be part of that debate...
March 13, 2012 | What Paul Gregory Is Writing About

Phoenix Shows Romney Right and Obama Wrong

What appears to liberals as mean spirited capitalism actually shortens the period of pain and accelerates the recovery. I guess they will never learn this elementary lesson...
March 9, 2012 |

A good Jobs Day

The fewest numbers you need to know...
March 5, 2012 | Economics One

More Debates about the Stimulus Debate

In a blog post yesterday Paul Krugman repeats a claim made by Christina Romer which he says answers “in devastating fashion” the empirical paper by John Cogan and me...But Romer’s claim actually provides no such answer or rebuttal...
March 2, 2012 | Economics One

Debating Stimulus and Harvard and Stanford

Larry Summers and I debated “Did Fiscal Stimulus Help the Economy?” at Harvard this is a summary of things I said in my opening remarks...
March 1, 2012 | What Paul Gregory Is Writing About

“Voluntary Exchange” of Greek Debt? And There Goes Another Market

Greece’s long term problem is that lenders do not trust it to meet its obligations...
February 21, 2012 | Economics One

Getting Off Track and the Panic of 2008 Revisited

I first wrote about the panic of 2008 (including the Lehman bankruptcy, the AIG bailout, and the rollout of the TARP) in my book Getting Off Track...If you look at the charts in that book you will see a detailed consideration of the daily data...
February 20, 2012 | Corner (National Review Online)

As Time Goes By...

It is hard to remember a more tense time in the last 20 years...