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James Ceaser is the Harry F. Byrd Professor of Politics at the University of Virginia, director of the Program for Constitutionalism and Democracy, and was a senior fellow at the Hoover Institution. He is the author of several books on American politics and American political thought, including...
The Minimum Wage And Monopsony
I promised a few weeks ago to "write a further note explaining a more-sophisticated way of understanding the harmful effects of the minimum wage." This isn't it.
A Five-Step Plan For European Prosperity
California Traffic Is A Symptom Of Housing Unaffordability
Two weeks ago I explored how California's housing unaffordability crisis is impacting the Golden State's business climate.
Janet Yellen’s Speech On Policy Rules
For many years, going back to the days before Google and Google Scholar helped us find and keep track of things, I created a monetary policy rule home page with links to papers, articles and speeches on policy rules, including a written version of a 1996 speech by Janet Yellen on the Taylor rule.
On RRP Pro And Con
Thanks to a comment on the last post, I found The Fed working paper explaining Fed's thinking about overnight reverse repurchases, Overnight RRP Operations as a Monetary Policy Tool: Some Design Considerations by Josh Frost, Lorie Logan, Antoine Martin, Patrick McCabe, Fabio Natalucci, and Julie Remache.
McCloskey On Piketty
I'm starting to work on a paper that I'll give at the APEE (Association for Private Enterprise Education) meetings in Cancun in April. The working title for the paper, although I might change it when it comes time to submit to a journal, is "Economic Inequality: When and How Does It Matter?"
Richard Epstein On The John Batchelor Show (19:15)
Listen as Richard Epstein talks about his essay, "Greece on the brink".
Tax Code Should Be ‘Tossed Out,’ Expert Tells Senators
Tax experts agreed Tuesday that comprehensive tax reform will help boost economic growth, with one expert suggesting the best way to achieve this is to "toss out" the current tax code and start again.
Why Jeb Bush Wants Small Businesses To Grow Like It's 1985
On Wednesday, potential presidential candidate Jeb Bush heads to Washington to try to prove his conservative bona fides to none other than the Conservative Political Action Conference.
John Taylor On Bloomberg Advantage
John Taylor, professor of Economics at Stanford University and author of "The Taylor Rule," discusses the Federal Reserve and Janet Yellen’s testimony. He joins The Bloomberg Advantage with Kathleen Hays and Vonnie Quinn.
Lee Ohanian On The John Batchelor Show (32:47)
Lee Ohanian discusses his thoughts about the fare share of the tax bill.
Why Does The Federal Reserve Fear A Real Audit?
What is Janet Yellen afraid of? That question will be percolating in Congress next week when the Senate Banking Committee starts considering proposals for reforming the Federal Reserve that she chairs.
The Honesty Gap
There may be some poetic justice in the recent revelation that Hillary Clinton, who has made big noises about a "pay gap" between women and men, paid the women on her Senate staff just 72 percent of what she paid the men. The Obama White House staff likewise has a pay gap between women and men, as of course does the economy as a whole.
Serfdom And Russian Economic Development
Serfdom was one of key institutions in Russian history. This column argues that relatively late abolition of serfdom was an important factor of divergence in economic development between Russia and Western Europe.
Lanhee Chen On The Hugh Hewitt Radio Show (38:11)
Lanhee Chen gives his opinion of who is responsible for the fiscal cliff.
Audit The Fed? That's A Terrible Idea
In a week when Federal Reserve Chair Janet Yellen got grilled pretty hard on Capitol Hill, and Fed Vice Chair Stanley Fischer, said the central bank was likely to start raising interest rates this year, there were a couple items that stood out as important with respect to future policy decisions.
A Recovery Waiting To Be Liberated
Bad government policy has kept the economy caged. Here’s how to spur growth quickly.
Liberate The Recovery
My piece in today’s Wall Street Journal “A Recovery Waiting to Be Liberated,” starts with data showing that economic growth last year was in the end disappointing again.
Mankiw On Dynamic Scoring
The issue: When the congressional budget office "scores" legislation, figuring out how much it will raise or lower tax revenue and spending, it has been using "static" scoring.
Krugman's Priceless Economics
As regular readers of my posts on Econlog know, although I am often critical of Paul Krugman, I defend him when he's doing good economics (here, for example). His New York Times column yesterday, though, "Walmart's Visible Hand," essentially throws out basic price theory. Thus the title of this post.

