U.S. Economy
I Am the Very Model of a Modern US President
In this re-imagining of the Gilbert and Sullivan tune "I Am the Very Model of a Modern Major-General," Julian Adorney explores the American presidency and the discouraging lack of variety among successful candidates.
Price Discovery — The Forgotten Enemy of Bubbles
The F.A. Hayek Lecture, sponsored by Dr. Rafael Perez-Mera.
David Stockman: Against Crony Capitalism, Part 2
Why Larry Summers Doesn’t Understand Economic Inequality
Economists long ago disproved the idea that if the rich get a bigger slice of pie, everyone else’s slice must be getting smaller. In fact, the data continues to show that inequality and growth are not at odds.
David Stockman: Against Crony Capitalism, Part 1
Review of The Forgotten Depression by James Grant
James Grant proposes that the last time US government did not prescribe the now standard cure for economic slumps consisting of fiscal stimulus and easy money was the downturn of 1920–1921. Grant’s purpose is to test the efficacy of this medicine by checking what happened when it was not administered.
Drought and the Failure of Big Government in California
In California, the price of water is set by politicians, and not by markets, so that cheap water benefits some interest groups over others. It should now surprise no one that the state is in the midst of a water crisis.