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In the News

The Absurdity Of Trade Deficit Fears

quoting Thomas Sowellvia Manila Standard
Monday, July 16, 2018

When the value of a country’s imports exceeds its exports, a trade deficit results. Sales of Philippine-made goods abroad dropped for the fifth consecutive month while imports rose for the 10th straight month in May, resulting in a wider trade deficit of $3.7 billion, the government reported last Tuesday.

Featured

Rules And Strategies In The Fed’s New Monetary Policy Report

by John B. Taylorvia Economics One
Monday, July 16, 2018

The Fed’s Monetary Policy Report released last Friday devotes a lot of space to monetary policy rules. This is the third time in a row that the monetary policy report has included such discussions, the first being in July 2017 and the second in February 2018.  Compared with the previous two monetary policy reports, this Report adds new material on policy rules, and is joined with a helpful discussion of policy rules now integrated into the Monetary Policy Principles and Practice section of the Fed’s web page.

Henry Miller: War On Frappuccino

interview with Henry I. Miller
Sunday, July 15, 2018

AUTHOR. (Photo:File:Strawberry Delight Frappuccino.JPG  ) http://JohnBatchelorShow.com/contact http://JohnBatchelorShow.com/schedules Twitter: @BatchelorShow War on Frappuccino. @HenryIMiller @HooverInst

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Sustaining America’s Exceptional Economy

by Edward Paul Lazearvia PolicyEd
Monday, July 9, 2018

There are many reasons to be optimistic about America’s future. Our nation’s success has propelled us into global prominence, but to remain successful we need to maintain our exceptional economic position. If we lose it, we will be losing more than the right to claim that we are the land of opportunity.

Featured

Cross Subsidies Again -- Hip Replacement Edition

by John H. Cochrane via Grumpy Economist
Sunday, July 15, 2018

From the Wall Street Journal, a familiar story of medical pricing mischief:" Michael Frank...had his left hip replaced in 2015. The Manhattan hospital charged roughly $140,000. The insurance company paid a discounted rate of about $76,000, and his share—a 10% copay, plus a couple of uncovered expenses—was a bit more than $8,000."

Interviews

Henry Miller: The Strange Facts Of Marketing The Regulated Organic Chicken

interview with Henry I. Millervia The John Batchelor Show
Friday, July 13, 2018

Hoover Institution fellow Henry Miller discusses his American Greatness article "USDA Moves to End Rent-Seeking in Poultry Industry."

In the News

In 1970, Milton Friedman Advocated Moving Unilaterally Toward Free Trade Rather Than Retaliating. We Still Haven’t Learned That Simple Lesson

featuring Milton Friedman, Hoover Institutionvia AEI
Friday, July 13, 2018

Between 1966 and 1983, Milton Friedman (pictured above at AEI in the 1970s) wrote more than 300 op-eds for Newsweek, and those op-eds are all available here courtesy the Hoover Institution’s Collected Works of Milton Friedman website.

Analysis and Commentary

The Problems With Epp And Borghetto

by David R. Hendersonvia EconLog
Friday, July 13, 2018

Over at Marginal Revolution, Tyler Cowen cites an abstract of a recent paper by Derek A. Epp and Enrico Borghetto: "This article investigates the effects of economic inequality on legislative agendas."

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America’s Exceptional Labor Force

by Edward Paul Lazearvia PolicyEd
Friday, July 13, 2018

America’s economy benefits from its mobile society and dynamic labor force. American rates of mobility are much higher than in other developed countries. And immigrants in America come to work. In fact, workforce participation by immigrants is higher than that of native-born Americans.

Analysis and Commentary

Does A Capital Account Surplus Necessarily Imply A Trade Deficit?

by David R. Hendersonvia EconLog
Thursday, July 12, 2018

No. Bob Murphy explains why. He points out that a capital account surplus necessarily implies a current account deficit. But, he notes, a current account deficit is not the same as a trade deficit. Why?

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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