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Analysis and Commentary

The Effect of the Minimum Wage on Employment and Unemployment

by David R. Hendersonvia EconLog
Monday, February 22, 2021

In a comment on my blog post about the proposed $15 federal minimum wage, frequent (and careful) commenter KevinDC quotes my statement: Here’s what they found. The vast majority of studies, 79.3 percent, found that a higher minimum wage led to less employment.

Analysis and Commentary

Jeff Hummel on Classical Liberals and Libertarians

by David R. Hendersonvia EconLog
Monday, February 22, 2021

Economist and libertarian Jeff Hummel, pictured above, sent me the following and I think it’s worth sharing:

Analysis and Commentary

The Sunk Cost Lesson Stuck

by David R. Hendersonvia EconLog
Sunday, February 21, 2021

On Friday, the president of the Naval Postgraduate School, Dr. Ann E. Rondeau, announced that Captain Raymond (“Pancho”) Barnes, Military Associate Dean of the Graduate School of Defense Management (the new name for the school I taught at before retiring in 2017) is leaving his position for a new Navy posting. I haven’t met him during his tour because the in-person part of the School is pretty skimpy and so my biweekly visits to my former colleagues haven’t happened for about a year. But I’ve often enjoyed his emails to the faculty, which include the emeritus faculty.

Analysis and Commentary

How the Feds Gave a Competitive Advantage to Conservative Radio

by David R. Hendersonvia EconLog
Friday, February 19, 2021

This point is obvious once you think about it. It’s basic economics. It’s just that I had never thought about it.

Analysis and Commentary

Charley Hooper on Masks

by David R. Hendersonvia EconLog
Wednesday, February 17, 2021

I posted recently about the discussion between Phil Magness and Jeremy Horpedahl about mask mandates to deal with COVID-19. My sometimes co-author and former student Charley Hooper wrote the following on masks in a recent email. He’s given me permission to share it. The bottom line: the evidence in favor of masks, let alone mandates, just does not seem to be there.

Analysis and Commentary

Great Moment in Public Service Number 12,933

by David R. Hendersonvia EconLog
Tuesday, February 16, 2021

I live in Monterey County, where the Monterey County Health Officer, Dr. Edward Moreno, has had a lot of control over our daily lives since last March. Many of us were hoping that at least he would do his job and get Monterey County its pro rata share of the Covid-19 vaccines allocated to California.

Milton Friedman
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Age of Monetarism

interview with Jennifer Burnsvia Fellow Talks
Wednesday, February 24, 2021

In a draft chapter from her forthcoming biography of Milton Friedman, Jennifer Burns examines Friedman’s influence on Margaret Thatcher and Ronald Reagan, comparing their engagement with monetarism in the 1980s.

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GoodFellows: “The Place You Oughta Be”?

interview with John H. Cochrane, Niall Ferguson, H. R. McMaster, Lee Ohanianvia Fellow Talks
Wednesday, February 24, 2021

California is home to the world’s fifth-largest economy—and a world of problems: businesses exiting, chronic homelessness, a dearth of affordable housing, devastating wildfires, maddening political correctness. Lee Ohanian, a Hoover Institution senior fellow and columnist for Hoover’s California on Your Mind series, joins Hoover senior fellow Niall Ferguson, H. R. McMaster, and John Cochrane to discuss what is to become of the tarnished Golden State.

Analysis and Commentary

WFH Is Onstage And Here To Stay

by David Altig, Jose Maria Barrero, Nick Bloom, Steven J. Davis, Brent Meyer, Emil Mihaylov, Nick Parkervia Federal Reserve Bank of Atlanta
Wednesday, February 24, 2021

Chances are you recognize the relatively new acronym WFH as "working from home." In less than a year, WFH has become a ubiquitous, inescapable facet of life for many people, so much so that newswires now ask which cities are best for WFHOff-site link, and online job boards compile listsOff-site link of companies that allow remote work on a full-time, permanent basis.

In the News

The Fed Has An Irresistible Equity Itch

quoting John H. Cochranevia The Washington Post
Wednesday, February 24, 2021

When the Federal Reserve was created in 1913, long before it aspired to be a fourth branch of government, its sufficient mission was to preserve the currency as a store of value: Price stability facilitates economic dynamism by giving economic actors a degree of certainty. In 1978, Congress encouraged institutional imperialism in the Fed by mandating that its policies should promote “maximum employment.” 

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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