Peter Foster, writes in Canada’s National Post about Paul Krugman’s Con Job.  In response to Krugman’s recent piece in the New York Times,  The Tax-Cut Con, Foster writes:

Mainstream economists miss the target again. Fed economist Marvin Goodfriend shows that the US is an inflation targeter....Laurence Ball and Niamh Sheridan find that inflation targeting doesn’t matter. All brought to you by the good people at NBER:

It is not an exaggeration to say that Henry Ford changed the face of capitalism and reinvented industry with the development of the Model T automobile. Alas, much ruckus has been made over the Model T, however, mainstream history has put all of its focus on the Model T itself, along with the creation of the assembly line, and it forgets that what is behind the Model T are some of the most brilliant and useful innovations in the history of industrial mankind.

Who would have thought that Sweden might turn out to be the harbinger of a successful anti-euro movement? Writes Jean-Christophe Mounicq on today’s Tech Central Station, “[b]y saying ‘No’ to the euro, whether for good or bad reasons, the Swedes have done a great favor for themselves and other Europeans. As Professor Jean-Jacques Rosa demonstrated in his book The European Error, the euro is economic nonsense whose main purpose is to give more power to the unaccountable top European bureaucrats.

Writing in the  Wall Street Journal, Arnold Schwarzenegger says that the “two people who have most profoundly impacted my thinking on economics are Milton Friedman and Adam Smith.” The bulk of his piece is devoted to making the case for cutting taxes and regulations, in order to to attract new business to California.

States and municipalities typically offer defined-benefit pension plans to their employees.  They are supposed to set aside money every year to fund their future obligations.

Is the weak dollar, like steel tariffs, simply another political strategy out of Karl Rove’s playbook? Today’s New York Times reports that the shift to a weak dollar policy “may have begun under President Bush’s first Treasury secretary, Paul H. O’Neill, who placed less emphasis on keeping the dollar strong than on letting market forces rule.

In 1922, long before large-scale medical socialism in the US, Mises made  the following critique: “By weakening or completely destroying the will to be well and able to work, social insurance creates illness and inability to work; it produces the habit of complaining—which is in itself a neurosis—and neuroses of other kinds. In short, it is an institution which tends to encourage disease, not to say accidents, and to intensify considerably the physical and psychic results of accidents and illnesses.