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The American Dream Is Very Much Alive: Hoover Institution Senior Fellow Shelby Steele

interview with Shelby Steelevia Varney & Co (Fox Business)
Tuesday, April 2, 2019

Hoover Institution fellow Shelby Steele discusses the many opportunities available to everyone in America.

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Occupational Licensing Is A Bad Idea

by David R. Hendersonvia Defining Ideas
Tuesday, April 2, 2019

People have a right to make a living. 

In the News

Manufacturing Returns To Growth

quoting Michael Spencevia
Tuesday, April 2, 2019

The Caixin/Markit Manufacturing Purchasing Managers Index showed that China entered expansion territory in March, indicating a notable improvement in the country's manufacturing sector. Economists said the rise showed policies to bolster growth have begun to pay off, and the world's second-largest economy is likely to achieve steady expansion this year. The PMI, released on Monday, recovered for the second consecutive month and stood at 50.8 in March, versus 49.9 in February.


New Book Examines US, Global Monetary Policy

Tuesday, April 2, 2019
Hoover Institution, Stanford University

In their new Hoover Institution Press book, Currencies, Capital, and Central Bank Balances, economists John H. Cochrane and John B. Taylor and editor Kyle Palermo address big-picture debates affecting US and global monetary policy.

In the News

Does The Macroeconomy Float In Choppy Waters?

mentioning Steven J. Davisvia Federal Reserve Bank of St. Louis
Tuesday, April 2, 2019

In a recent Economic Synopses essay, we discussed how large changes in economic policy uncertainty (EPU) can affect key macroeconomic indicators like GDP and inflation. In that analysis, we considered only shocks that were large enough to push EPU above the recent historical highs. Thus, changes in the EPU do not necessarily have proportional changes on the economy.

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Currencies, Capital, and Central Bank Balances

via Books by Hoover Fellows
Tuesday, April 2, 2019

Experts address big-picture debates affecting US and global monetary policy and apply cutting-edge economic research to the international monetary and financial system.

Analysis and Commentary

Hummel On Modern Monetary Theory

by David R. Hendersonvia EconLog
Monday, April 1, 2019

If we focus solely on MMT’s [Modern Monetary Theory’s] essential claims about money, distinct from any associated policy proposals, it is neither new nor modern. It simply justifies funding government expenditures by issuing fiat money, which, of course, all economists have long been aware is possible. MMT then attempts to downplay the potential inflationary impact of such financing with manipulations of the government and central-bank balance sheets. But it merely puts the standard analysis into different boxes.


Former RBI Governor Raghuram Rajan Speaks To Faye D'Souza

interview with Raghuram Rajanvia Times Now News
Saturday, March 30, 2019

Hoover Institution fellow Raghuram Rajan says, "We need significant agricultural reform, in such a way that agriculture becomes a very productive business and becomes a growth engine for the economy."

In the News

Education Should Teach Us How To Think: Raghuram Rajan

quoting Raghuram Rajanvia The Times of India
Friday, March 29, 2019

Former governor of the Reserve Bank of India (RBI) Raghuram interacted with high school students in a webinar organized by Krea University on Friday.

In the News

New Study Estimates Dollar Values For Free Online And Digital Goods. Does GDP Need Redesign For 21st Century?

quoting Martin Feldsteinvia AEI
Friday, March 29, 2019

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.).


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