[Originally from Joseph R. Peden and Fred R. Glahe, eds., The American Family and the State (San Francisco: Pacific Research Institute, 1986).]
“‘Will Social Security be there for You?’: How Americans Perceive their Benefits” by Jeff Dominitz, Jordan Heinz, and Charles Manski (SSRN): “We find clear and striking evidence of substantial uncertainty and heterogeneity of beliefs about the long-term existence of the Social Security system and about the level of benefits provided should the system survive.”
Aaron Trask of TheStreet.com writes about overcapacity. But if you read it carefully, he is really talking about malinvestment, and the Fed’s role in preventing the liquidation of the misallocations that have occurred in some sectors.
Central Bankers Eye Unusual Steps (Reuters): “Central bankers from around the world Sunday discussed ways to prevent deflation and kick start lackluster global growth, including unorthodox policies such as buying up financial assets. At an annual meeting of the Bank for International Settlements (BIS), bankers grappled with mounting concerns that falling prices in top industrialized nations could spiral into a deflationary cycle that undermines growth. ...
The Disappearing Recovery (Chicago Tribune): “For more than two years now, signs of a sustained economic recovery have seemed to be just around the corner, only to vanish once the corner was reached. The Federal Reserve has been doing its part to make sure money is cheap enough to fuel a recovery. The central bank has cut short-term interest rates 13 times in the last 21/2 years--most recently by another 1/4 percent on Wednesday.
How Henry Hazlitt lost his job at The Nation (he criticized the New Deal!).
“More on the Japanese Experience“ by Henry C. K. Liu, the latest installment in his Asia Times series on central banking.
Gene Callahan posted his piece “The Implications of Human Action,” which engaged my review of his book. I offer my own discussion of his critique:
