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In the News

Nobel Laureate Thomas J. Sargent To Speak At NYU Abu Dhabi Institute In December

mentioning Thomas J. Sargentvia NYU Abu Dhabi Institute
Thursday, December 6, 2018

The NYU Abu Dhabi Institute (The Institute) is pleased to announce a public program of events free of charge throughout the month of December, marking the end of its tenth anniversary season. Events include visiting NYUAD faculty and Nobel Laureate Thomas J. Sargent’s talk titled US Tariff and Trade Policies: Then and Now, where he will discuss the forces and interests have determined the US government’s trade and tariff policies since 1776. Sargent currently teaches a course on quantitative economics at NYU Abu Dhabi. 

Analysis and Commentary

Talking Millennials Out Of Socialism

by Bruce Thorntonvia Front Page Magazine
Thursday, December 6, 2018

Writing last week about the new affection for socialism on the part of Millellenials, electoral maven Karl Rove warned us not to ignore or dismiss this enthusiasm. Socialism’s long record of failure “doesn’t mean new forms of socialism can’t gain a following.” Rove’s solution is for Republicans to “do the hard work of updating old arguments,” and “hone their arguments” against socialist policies in preparation for the 2020 presidential race.


John Cochrane On The John Batchelor Show

interview with John H. Cochrane via The John Batchelor Show
Wednesday, December 5, 2018

Hoover Institution fellow John Cochrane discusses his Hill article "Trump should send China flowers, not tariffs."


Taylor On China And Trade And Ideas

by John H. Cochrane via Grumpy Economist
Wednesday, December 5, 2018

Tim Taylor, also reviewing Summers on China, makes a few excellent points. Growth comes from within. Trade is not conquest.

Analysis and Commentary

Karl Marx On Modern Retirement And As Early Julian Simon

by David R. Hendersonvia EconLog
Wednesday, December 5, 2018

As I mentioned yesterday, I’m enjoying David Warsh’s Knowledge and the Wealth of Nations immensely. I’ll be posting highlights over the next few days. Discussing Karl Marx’s ideas about socialism, Warsh writes: It was at this point in the argument that the arm-waving began in earnest.

Analysis and Commentary

Do I Deserve What I Have? Part II

by Russell Robertsvia Medium
Wednesday, December 5, 2018

In Part I of this essay, I tried to make the case that I do not deserve the standard of living I currently enjoy, particularly compared to the woman, Bianca, who shined my shoes the other day. Yes, I have more marketable skills than she has, but as I wrote before, that does not mean I deserve a higher standard of living in any fundamental sense. So a legitimate argument can be made that even though I pay a substantial amount of tax on my income and Bianca almost surely receives some benefits from government programs, a substantially higher tax can be justified on grounds of justice.

In the News

Tariffs Aren’t Trump’s Only Trade War Weapon

quoting Steven J. Davisvia Bloomberg
Wednesday, December 5, 2018

President Donald Trump has used tariffs as one of his most powerful tools for fighting his trade wars, but he’s also wielding leverage with another weapon: uncertainty.

Papers And Presentations

Lessons From The Crisis

by Darrell Duffievia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

In the years leading up to the financial crisis that began in 2007, the core of the financial system was vulnerable to major shocks emanating from any of a variety of sources. This presentation reviews the lessons from the crisis.

Related Research

QE and ZLB: Decisive Experiments for Monetary Economics

by John H. Cochrane via Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

Quantitative Easing (QE) = Large Scale Asset Purchases, issue reserves. But, does QE “Work?” And to what end?

Papers And Presentations

Labor Market Adjustment

by Caroline M. Hoxbyvia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

Today, there is suggestive evidence that policies during the recession failed to promote labor market adjustment, leading to permanently lower worker hours.


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