Monetary policy plays a critical role in the economy. Central banks use monetary policy to promote robust economic growth and to stabilize the economy when growth is uneven. The independence of central banks allows them to make difficult decisions in the face of political pressure. Understanding monetary policy can help us avoid future recessions or financial crises.
Just outside the fence on the South Lawn of the White House is a squat granite monument, usually surrounded by tourists snapping shots through fence and awash in discarded soda cans and plastic water bottles. Though ignored by nearly everyone who passes it, the monument marks the Zero Milestone for one of the most audacious expeditions in American history. As Americans prepare to celebrate the 50th anniversary of the Apollo 11 moon landing, and we recently marked the sesquicentennial of the completion of the Transcontinental Railroad, this year offers up one more anniversary of extraordinary American ingenuity and grit, one that in many ways changed daily life even more profoundly than either of the other two events.
I speculate only because since January 2017 our popular culture and intelligentsia have suggested President Trump is crazy and should be removed under the 25th Amendment. Apparently, accusations about the mental health of presidents and would-be presidents are now legitimate political attack strategies under the new progressive rules.
Economist and author Arthur Brooks talks about his book Love Your Enemies with EconTalk host Russ Roberts. Brooks argues that contempt is destroying our political conversations and it's not good for us at the personal level either. Brooks makes the case for humility and tolerance. Along the way he discusses parenting, his past as professional musician, and the challenges of leading a think tank.
Howard Fuller, a Distinguished Professor of Education, and Founder/Director of the Institute for the Transformation of Learning at Marquette University, joins Paul E. Peterson on the 100th episode of the Education Exchange to discuss the state of school choice and it's contentious standing in current politics.
Do the authors [of the Council of Economic Advisers’ report on Trump’s deregulations] make a good case for their estimate? Yes, and in the rest of this article, I’ll lay out their case. I wonder, though, what the numbers would look like if they included the negative effects on real income of increased restrictions on immigration and increased restrictions on trade with Iran. (I’m putting aside increased tariffs, which also hurt real U.S. income, because tariffs are generally categorized as taxes, not regulation.)
Recent weeks have seen a debate of sorts about the image and reality of contemporary California. Is it, as Gov. Gavin Newsom contends, a nation-state proving that economic prosperity, multiculturism and social progress can advance together?
For the past month, I’ve been here in Spain working on my next project about my Purépecha grandmother. The connection to this country is that her uncle, my great uncle, relocated with his Spanish employers, who were fleeing the perils of the Mexican Revolution. He was their servant in Michoacán and, circa 1910, he chose to leave his family and the Americas in exchange for Europe. He was never heard from again.