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Analysis and Commentary

Hummel On Understanding Monetary Policy

by David R. Hendersonvia EconLog
Saturday, June 15, 2019

San Jose State University economics professor Jeff Hummel recently wrote a former student to answer a question about how to follow and understand the details of monetary policy. I found it so insightful that I got his permission to post it. I liked the personal reminiscence and the insights in the last paragraph. Here it is.

In the News

Banning Sanctuary Cities Absolutely The Right Move

quoting Victor Davis Hansonvia Sunshine State News
Saturday, June 15, 2019

Sanctuary cities. The term leaves me cold. Initiated by the Left, it's a politically correct euphemism for Capturing New Voters.

Analysis and Commentary

Henderson's Case Against A Universal Basic Income

by David R. Hendersonvia EconLog
Friday, June 14, 2019

Even some free-market economists, such as Duke University’s Michael Munger, argue for a UBI that would replace the current welfare state. But assuming unrealistically that the existing means-tested welfare state programs could be completely replaced, a UBI of $12,000 a year or even of $10,000 a year would require large increases in federal government spending and large increases in taxes.

Featured

Real Estate Ups And Downs

by John H. Cochrane via Grumpy Economist
Sunday, June 16, 2019

In a delightfully YIMBY "Americans Need More Neighbors" the New York times gets it almost all right. Housing is one area of American life where government really is the problem. The United States is suffering from an acute shortage of affordable places to live, particularly in the urban areas where economic opportunity increasingly is concentrated. And perhaps the most important reason is that local governments are preventing construction.

In the News

Democracy In Crisis

featuring Larry Diamondvia The New York Times
Saturday, June 15, 2019

China today holds as many as a million Uighurs and other Turkic Muslim minorities in “political education” camps. Across China, Xi Jinping is pioneering a technological despotism of ubiquitous cameras, facial-recognition software and mass surveillance. In Vietnam, Belarus, Egypt and elsewhere, resilient tyrants rule through police monitoring, ethnic division and brute coercion. Burma’s liberalization ended in renewed military supremacy and the bloody expulsion of some 730,000 Rohingya Muslims into neighboring Bangladesh. In its 2019 report, Freedom House notes that last year, more countries became more oppressive than more free — the 13th consecutive year of more decline than progress.

In the News

Cory Booker's Very Bad Ideas To Solve America's Housing Crisis

quoting Thomas Sowellvia Sean Hannity
Friday, June 14, 2019

In the first presidential election after the full recovery from the subprime mortgage crisis, which was largely caused by legislation promoting “affordable housing,” presidential hopeful Senator Cory Booker (Spartacus) has released his plan for achieving affordable housing. Thomas Sowell clarifies this way of thinking in his book “The Housing Boom and Bust,” where he explains how the market learns from these mistakes and adjusts with remarkable speed, but “the question is whether politicians and government bureaucrats learn, especially when they pay no price for being wrong, and are able to deflect blame toward the market with denunciations of ‘greed,’ ‘Wall Street’ or whatever other convenient scapegoats are available.”

In the News

Is Anybody Ticked Off That Trump Flip-Flopped On Calling The FBI?

quoting Victor Davis Hansonvia Rush Limbaugh Show
Friday, June 14, 2019

Is anybody ticked off that Trump flip-flopped on all of this stuff? I mean, there’s CNN: Trump changes his mind saying he would call the FBI. Trump changes his mind, says if offered dirt on rivals he would tell the FBI. Trump changes his mind. Trump this, Trump that. Why did Trump change his mind? Who got to Trump? Who told him you gotta do this ’cause the media’s all over you? Trump changed his mind. Trump incorrectly says Mueller report hardly mentioned Don Jr.

In the News

Martin Feldstein Was A Pillar Of American Economics

featuring Martin Feldsteinvia The Economist
Saturday, June 15, 2019

For a half-century Martin Feldstein was everywhere you looked in American economics. He was an astoundingly prolific columnist, sometimes churning out several a week, for several newspapers, on the big economic stories of the day. He was a fixture at conferences and seminars and the teacher, for two decades, of Harvard University’s introductory economics course. He served presidents of both parties. In short Mr Feldstein, who died on June 11th aged 79, was an American economic institution.

Analysis and Commentary

Betsy Devos And Other Naysayers Are Wrong: Student Outcomes In The U.S. Have Improved Significantly In Recent Decades

by Michael J. Petrillivia EducationNext
Friday, June 14, 2019
Back in April, speaking in front of the Education Writers Association, Secretary DeVos said that decades of reform efforts and increased social spending, both inside and outside of schools, “hasn’t ultimately improved anything for any students, particularly not for the most vulnerable students.” It’s a standard refrain from DeVos, and many other reformers as well, when making the case that past efforts have failed and it’s time to try something different.
Thomas Sowell in front of a black background with an Uncommon Knowledge mug
In the News

Quotations Of The Day…..

quoting Thomas Sowellvia AEI
Friday, June 14, 2019
…. are from Thomas Sowell, the master of “idea density,” who can consistently pack more wisdom into a single sentence or two than is usually contained in the entire paragraphs or full op-eds of an average writer.

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