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Analysis and Commentary

Liberty City

by David R. Hendersonvia EconLog
Monday, October 21, 2019

Dekornfeld: But nothing would prepare him [James Massey] for what he would find in Von Ormy because all those classes were about building city government. And in Von Ormy, the sole goal seemed to be the opposite.

Analysis and Commentary

Susan Houseman On Manufacturing

by Russell Robertsvia EconTalk
Monday, October 21, 2019

Economist Susan Houseman of the Upjohn Institute for Employment Research talks about the manufacturing sector with EconTalk host Russ Roberts. Houseman argues that the data surrounding both manufacturing output and employment have been misunderstood and misinterpreted. In particular, she argues that conclusions about the growth of manufacturing are driven overwhelmingly by computer production while the rest of manufacturing has been stagnant. She also argues that productivity has a small role in reducing manufacturing employment. Trade has been the main cause of employment reductions. These claims go against the standard narratives most economists have been telling for the last 20 years.

In the News

'There Is So Much More We Can Do': Condoleezza Rice Pitches For US-India Trade Deal

featuring Condoleezza Ricevia Sify News
Monday, October 21, 2019

"There is so much more we can do for our economies. My advice to the trade negotiators is -- get a deal soon," Rice said during a conversation with USISPF (US-India Strategic Partnership Forum) board member Purna Saggurti at the second Annual India Leadership Summit.

In the News

There’s A Stark Reason Why America’s 1.8 Million Long-Haul Truck Drivers Can’t Strike

quoting Thomas Gale Moorevia Business Insider
Sunday, October 20, 2019

Tens of thousands of truck drivers were scheming earlier this year to strike. Such a work stoppage could have tremendous implications – some 71% of freight is moved by long-haul trucks, including groceries, manufactured goods, and even money. “We’re not all fat slobs, and we don’t all do the stereotypical trucker things,” Will Kling, a truck driver based in Reno, Nevada, told Business Insider last year. “Trucking has been forgotten.”

Analysis and Commentary

Getting Rich On Low Pay

by David R. Hendersonvia EconLog
Sunday, October 20, 2019

The key is high saving. Here’s an amazing story about a worker on Wall Street making $40,000 a year and saving $10,500 a year in a 401(k) for 12 years. By the end, he was a millionaire.

In the News

Raghuram Rajan Expresses Concern Over India's Economic Slowdown

quoting Raghuram Rajanvia Research Writeups
Thursday, October 17, 2019

Previous Reserve Bank of India Governor Raghuram Rajan has communicated worry over India's monetary shortfall figures, expressing that it is the feasible purpose for the log jam in Indian economy. He likewise condemned the administration over its populist basic leadership which neglected to concentrate on financial development. 

In the News

Negative Rates Forever? Central Bankers Look For An Exit

quoting John B. Taylorvia Reuters
Saturday, October 19, 2019

The world’s most powerful policymakers are struggling to alleviate the pain of a slowing global economy with few levers left to pull and growing concern that one of them, negative interest rates, already is creating problems of its own.

In the News

Rand Paul: Why Bernie Sanders’ Socialism Hurts The Poor As Much As The Rich

quoting Thomas Sowellvia New York Post
Saturday, October 19, 2019

Four in 10 Americans now consider some kind of socialism “a good thing for the country as a whole” — an 18 percent increase since 1942, according to Gallup. But, in an excerpt from his new book, “The Case Against Socialism,” out now, Sen. Rand Paul explains why this embrace of economic equality would make life worse for us all.

Featured

Who Pays More Taxes

by John H. Cochranevia Grumpy Economist
Friday, October 18, 2019

A retired guy and a carpenter walk in to a bar, and they each order a beer. When they pay, the fashionable progressive economist asks them, "how much tax did you pay today on the money you got to buy that beer?" The carpenter answers, "Well, I just got my paycheck today. So, that's 30% federal income tax, 5% state income tax, 15% social security and other payroll taxes." The retiree says, "I took the money out of my bank account at the ATM on the way over. There isn't a tax on taking money out of banks so I didn't pay any taxes today."

Interviews

Lanhee Chen: JPMorgan CEO: Governments Controlling Companies Is Socialism

interview with Lanhee J. Chenvia Yahoo Finance
Friday, October 18, 2019

Hoover Institution fellow Lanhee Chen discusses his perspective on JPMorgan CEO Jamie Dimon's speech defending capitalism.

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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