Business & Labor

by Michael Spencevia Project Syndicate
by John H. Cochranevia Wall Street Journal
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interview with Stephen Habervia Wall Street Journal Live
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by Lee Ohanian, Edward Prescottvia Wall Street Journal

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In the News

There Is No Government Shortcut For Entrepreneurial Success

quoting Shelby Steelevia Foundation of Economic Education
Friday, August 9, 2019

Elizabeth Warren’s belief that government is capable of “leveling the playing field” does a disservice to the unique entrepreneurial ecosystem that free enterprise facilitates.


A Beautiful Model Now Questioned

by John B. Taylorvia Economics One
Wednesday, August 7, 2019

A few days ago, an amazing thing happened when Thomas Brand (@thlbr) tweeted about a short article I posted on my blog My post was old–posted 10 years ago on October 3, 2009–and I titled it “A Beautiful Model, A Clear Prediction.”


Trade And The Fed

by John H. Cochranevia Grumpy Economist
Wednesday, August 7, 2019

Nina Karnaukh of Ohio State sent along this lovely graph of the 6 month Fed Funds futures around the beginning of August. Read this as the market's guess about what is happening to the Federal Funds rate over the next 6 months.

In the News

Right-To-Work Would Bolster Maine’s Manufacturing Sector

mentioning Hoover Institutionvia The Maine Wire
Monday, August 5, 2019

The decline of Maine’s manufacturing sector, whose workforce has shrunk by nearly half since the early 1990s, can seem inexorable, the unavoidable consequence of automation and globalization. In some ways, state policymakers can do little to resist these broader trends. Yet there are policies Maine could implement to re-invigorate our manufacturing industry. Perhaps the most important: Right-to-work legislation.

Analysis and Commentary

Casey Mulligan On Trump Versus Reagan

by David R. Hendersonvia EconLog
Friday, August 2, 2019

University of Chicago economics professor Casey Mulligan, fresh off his one-year stint as chief economist with President Trump’s Council of Economic Advisers, has an interesting comparison of Trump vs. Reagan on economic deregulation.


San Francisco’s Flawed “IPO Tax” Proposal Would Tax So Much More

by Lee Ohanianvia California on Your Mind
Tuesday, July 30, 2019

San Francisco supervisors thought they had designed a wealth tax that would hit only those benefiting from the initial public offerings (IPOs) of highly successful San Francisco technology businesses, such as Uber, Pinterest, and Airbnb, among others. Tech companies often compensate employees partially with stock, whose values can rise enormously in an IPO.

In the News

McConnell: ‘Hiking The Minimum Wage To $15 Would Kill Jobs And Depress The Economy’

quoting Thomas Sowellvia CNS News
Monday, July 29, 2019

Explaining why he opposed raising the minimum wage to $15 per hour, Senate Majority Leader Mitch McConnel (R-Ky.) said it was because it would “depress the economy at a time when it’s thriving.”

Analysis and Commentary

Lanhee Chen: $15 Minimum Wage May Do More Harm Than Good

by Lanhee J. Chenvia Townhall Review
Tuesday, July 23, 2019

The Democrat-controlled House of Representatives recently passed legislation to raise the minimum wage from $7.50 to $15 nationwide. While that might sound good to some, the reality is that such an increase may put up to 3.7 million people out of work, according to the nonpartisan Congressional Budget Office.


Raghuram Rajan On Prospects For A World Recession

interview with Raghuram Rajanvia BBC News
Monday, July 22, 2019

Hoover Institution fellow Raghuram Rajan says trade friction between the US and China and the prospects of Brexit have helped damage business confidence, but it was not clear yet whether this would lead to a recession.


What Happens To Local Jobs When State Taxes Go Up?

featuring Joshua D. Rauhvia Graduate School of Business, Stanford University
Monday, July 22, 2019

A new study, coauthored by Hoover Institution fellow and Stanford Graduate School of Business Finance Professor Joshua D. Rauh, offers a solid answer to what happens to local jobs when state taxes go up: Hiking the state corporate tax rate just one percentage point, say, from 6% to 7%, will indeed spur some companies to pull up stakes and take jobs with them.


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