Doctor Copper Is Sending Signals Our Way

The price of copper has hit an all-time high. This represents a signal about the world economy. The euphemism on Wall Street for the implications of the price of copper is called Doctor Copper.

If the price of copper is moving higher, then Doctor Copper is diagnosing economic growth, or possibly an artificial economic boom. If the price of copper is moving lower, then Doctor Copper will diagnose an economic contraction, or economic bust, or even an economic crisis, brought on by the previous artificial economic boom.

Higher Education Too Often Values Second-Rate Economics Research over Teaching

People act according to incentives, and university professors are no exception. Professors receive tenure and promotion based largely on the number and quality of papers they have published in their area of expertise. The number of papers published is a simple metric, but how should the quality of publishing be judged? Surely the quality of published research should be judged on the extent to which it benefits society.

What Israel Is Doing to Gaza Is a Choice

Anyone who has voiced opposition to what the government of Israel is currently doing in Gaza has undoubtedly heard the various ways Israel’s defenders excuse, dismiss, and justify Israel’s actions. Sometimes you’ll hear that the Israel Defense Force (IDF) is doing everything in its power—more than any other military in history—to avoid hurting civilians and that Hamas is responsible for any innocents who get killed because they are using them as human shields.

How the Fed Helped Create the China Bubble—and Bust

The salvo from Washington as it unleashes the Green War with China leaves no doubt about the perilous state of Sino-US relations, and, incidentally, about Bidenomics. Yet, the remnant of a strong monetary link between the two countries brakes the journey into an intensified cold war between the two countries. Monetary realities mean the brewing cold war will likely occur in a more winding fashion than the headlines suggest.