I’ve written a number of times on CD about the possible limitations of official GDP accounting methods (developed in the 1930s during the Machine Age) for measuring economic activity, output and well-being in the Digital Age when so many services are now free or nearly free (Wikipedia, Facebook, Craigslist, email, Internet, cameras, videos, music, GPS/maps, etc.).

Hoover Institution fellow Thomas Sowell discusses the reissue of his classic book Discrimination and Disparities  as well as the rise of socialism, reparations, and more. 

America’s economy may seem stable at first glance but that doesn’t necessarily mean it’s doing well. While many believe that our economy is at its best under the circumstances, history shows a different picture.

The Fed sets interests rates. But how does the Fed set interest rates? The Fed is undergoing a big review of this question. We had a little workshop at Hoover, in preparation for the larger May 3 Strategies for Monetary Policy conference, which provokes the following thoughts.