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David Brooks Goes Into Full Name Calling Mode

No regular reader of the NYT expects great insights from David Brooks, but the sort of name-calling in today's column is the sort of thing one expects from a grade schooler. It turns out that if you don't agree with Brooks' view of the...Show More Summary

Paul Krugman: The G.O.P. Is No Party for Honest Men

"A strategy based entirely on lies": The G.O.P. Is No Party for Honest Men, by Paul Krugman, NY Times: According to a new CBS News poll, almost 60 percent of the American public believes that the current Republican tax plan...

Is The Fed Setting Itself Up To Fail In The Next Recession?

Tim Duy: Is The Fed Setting Itself Up To Fail In The Next Recession?: The Federal Reserve remains committed to a December rate hike, persistent low inflation not withstanding. With unemployment below Fed estimates of its longer-run natural rate, most...

Brexit – a cry of financial pain, not the influence of the old

There has been much debate on the determinants of the vote for Brexit. This column uses newly released data from the Understanding Society study to examine the characteristics of individuals who were for and against Brexit. Unhappiness...Show More Summary

Labour market-based knowledge spillovers

The productivity benefits of similar firms locating near one another are well accepted, but there is little agreement on how knowledge spillovers have local effects. This column presents evidence from Italy of how firm-to-firm labour mobility enhances the productivity of firms located near other, highly productive firms. Show More Summary

Making globalisation more inclusive

Globalisation and technological change present policymakers with tremendous challenges in sustaining benefits while containing the dislocations and polarisation that are plaguing many countries. This column argues that the answer is not to roll back these forces, but rather to redouble efforts to make globalisation genuinely inclusive. Show More Summary

Two Texas Talks

(October 16, 2017 08:59 PM, by David Henderson) I'll be giving in two talks in Texas this week. Southern Methodist University, Dallas Sponsor: O'Neil Center for Global Markets & Freedom Topic: How Economists Helped End the Draft Time: Wednesday, 6:00 to 7:00 p.m. (Reception to follow) Place: Ernst... (0 COMMENTS)

Tuesday: Industrial Production, Homebuilder Confidence

From Matthew Graham at Mortgage News Daily: Mortgage Rates Sideways to Slightly HigherMortgage rates were sideways to slightly higher today, depending on the lender. Underlying bond markets suggested a bit more movement, and that will likely be reflected in tomorrow morning's rate sheets unless bonds improve overnight. Show More Summary

Bloodbath Coming If Treasury Obeys TBAC Overlords

Treasury supply was light from mid September to mid October. But the party is over now if the Treasury follows the TBAC.Treasury Pro Trader subscribers (or Professional Edition), click here to download the report. Subscribe to and read this report in the Treasury Supply and Demand Pro Trader, risk free for 90 days. Show More Summary

Why John Taylor might be a good choice for Fed chair

I’ve done a few posts expressing opposition to Kevin Warsh being nominated to chair the Fed.  Now there are rumors that John Taylor’s stock is rising: Stanford University economist John Taylor, a candidate for Federal Reserve chairman, made a favorable impression on President Donald Trump after an hour-long interview at the White House last week, […]

The 4-Week T-Bill Is Actually a Secret “Liquidity Hack”

I see intermarket analysis (the idea that other markets can be predictors of the stock market) mostly as a big waste of time. Often, what correlates today won't correlate a year from now, or the correlation may even reverse. The best way to analyze and forecast stock price trends is to analyze stock prices themselves. Show More Summary

Rethinking Macroeconomics

(October 16, 2017 03:54 PM, by Scott Sumner) I recently attended a conference at the Peterson Institute on "Rethinking Macroeconomics", which mostly meant returning macro to its Keynesian roots. Readers may know that I have a contrarian take on the crisis---I believe it occurred because macroeconomists did not... (0 COMMENTS)

Does Trump's Immigration Agenda Harm Democracy? My Opening Statement

(October 16, 2017 03:08 PM, by Bryan Caplan) 800x600 Last Friday, I debated Heritage's Hans von Spakovsky on "Does Trump's Immigration Agenda Harm Democracy?" The resolution was unusual for me in three ways:1. I usually try to stick to timeless issues. For this debate, I had to... (0 COMMENTS)

Balloon Dog (Orange): The Art of a Health Care Deal

What a health care solution space looks like to our highly transactional President.

Housing Starts and the Unemployment Rate

By request, here is an update to a graph I haven't posted in several years...The graph below shows single family housing starts (red) and the unemployment rate (blue, inverted) through September 2017. Note: Of course there are many other...Show More Summary

Fred McChesney RIP

(October 16, 2017 02:00 PM, by David Henderson) Law and economics scholar Fred McChesney died last Thursday at age 68. He was a first-rate scholar, a wonderful friend, and an engaging conversationalist. I'm so glad that he called me up when he was in Monterey a couple... (0 COMMENTS)

For the Weekend: Stephen Vincent Benet: The Devil and Daniel Webster VII

For the Weekend: Stephen Vincent Benet: The Devil and Daniel Webster VII : "'Foreign?' said the stranger. 'And who calls me a foreigner?'... >..."Well, I never yet heard of the dev—of your claiming American citizenship," said Dan'l Webster with surprise. Show More Summary

Mises was a neocon, and other oddities

(October 16, 2017 09:34 AM, by Alberto Mingardi) It is of great comfort to us who share an antiquarian passion for the history of political thought that fundamental questions such as, "What is the state?" invariably come to the surface. But sometimes you get the impression that new... (3 COMMENTS)

Weekend Reading: Polybius on His Relationship with Scipio Aemilianus, Plus Cato on Roman Luxury...

[Polybius XXXI.23 ff.](http://penelope.uchicago.edu/Thayer/e/roman/texts/polybius/31.html): "Now that the progress of my narrative and the date call our special attention to this family... >...I wish in order to satisfy the reader'sShow More Summary

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