Mark Gertsen is on the faculty of economics and business at the University of Groningen.

War Has Become Another Frivolous Partisan Issue

The world continues to process last week’s missile strike killing of Iranian general Qassem Soleimani as President Donald Trump continues to rattle his favorite saber, Twitter, against threats of Iranian retaliation. Already the international response to Trump’s military escalation, a decision categorized as “the most extreme response” by American military officials, has been strong.

Negative Inflation Targeting: A Proposal of a Non-Distortionary Monetary Policy

Abstract: This paper aims to propose a non-distortionary monetary policy objective consistent with the Austrian business cycle theory. Since the price level should fall in the growing economy in the Hayekian framework, introduction of a negative inflation target combined with the Taylor rule is suggested as a non-distortionary monetary policy. To keep the money stream stable, the optimal inflation target would be equal to the opposite of the growth rate of the economy.

Tomáš Frömmel is a Ph.D. student in the economics department at the University of Economics, Prague.

“Closing the Gender Gap” at Any Cost Threatens the Academic Integrity of STEM Education

The National Bureau of Economic Research recently published a study which concluded that the grading policies for STEM classes contribute to the gender gap in the STEM field.

The study finds that STEM classes, on average, assign lower grades compared to non-STEM classes and that this tends to deter women enrolling. Women — who value higher grades more than men — are apparently put off by the lower average grades in STEM subjects. This is despite the fact that “women have higher grades in both STEM and non-STEM classes,” according to the study.