Category Archives: News/ Lessons

My letter to the NY Times re: Why Not Allow School Choice Regardless of Outcomes

Re: The Secret to Success Academy’s Top-Notch Test Scores Dear Sirs: In his excellent review of Robert Pondiscio’s How the Other Half Learns: Equality, Excellence, and the Battle Over School Choice Dale Russakoff seems to assume that parents should be allowed to send … Continue reading

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Is There an Economic Justification for Tariffs?

A tariff is a tax on imports that is used to satisfy a policy goal. Before the federal income tax became law in 1913, the US federal government was funded almost entirely by tariffs and excise taxes. An excise tax … Continue reading

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Wrong Approach to a No Deal Brexit

From today’s Open Europe news summary: Chancellor: No Deal Brexit would eliminate Treasury’s fiscal reserves The Chancellor of the Exchequer, Philip Hammond, warned yesterday, “The ‘fiscal firepower’ we have built up in case of a No Deal Brexit will only … Continue reading

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The Necessary and Inevitable Recession to Come

The Necessary and Inevitable Recession to Come   by Patrick Barron   Perhaps the most destructive premise of modern, mainstream economics is that a central bank-induced monetary/credit expansion can cause an economy to grow without adverse consequences. Let’s be perfectly … Continue reading

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My letter to the WSJ re: Fed Policy Is Based on Fallacious Economic Science

Re: Low-Inflation Trap That Ensnared Japan and Europe Worries Fed Dear Sirs: I am speechless about the inanity of the Fed’s policy of actually desiring to destroy the purchasing power of the dollar. This mind boggling view of the world is … Continue reading

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My letter to the WSJ re: Inflation is NOT rising prices

Re: The Federal Reserve is Flying Blind on Inflation by Andy Kessler Dear Sirs: What the WSJ and every mainstream economist in the nation refers to as “inflation” is merely an increase in prices. The only true inflation is inflation of the … Continue reading

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The Fed as Counterfeiter

Counterfeiting Money Is a Crime, Whether by the Fed or A Private Individual  by Patrick Barron A few years ago, shortly after the 2008 subprime lending disaster, the Fed sent a public relations team around the country to conduct supposedly … Continue reading

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The Implications of a “Hard Brexit” on Britain

When Britons voted on June 23, 2016 on whether or not to leave the EU there was no discussion of a “hard or soft Brexit”. These terms were invented after Brexit passed by a surprisingly large margin and the mostly … Continue reading

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My letter to the NY Times re: Taxing both workers and robots out of existence

Re: Don’t Fight the Robots, Tax Them, by Eduardo Porter Dear Sirs: I suppose we should be pleased that Mr. Porter is a Luddite-lite; i.e., he doesn’t want to smash new machinery out of existence but use the tax code to … Continue reading

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My letter to the NY Times re: “Then came the global financial crisis”

Re: How America Learned to Stop Worrying and Love Deficits and Debt by Neil Irwin Dear Sirs: Reading Mr. Irwin’s Doctor Strangelove-esque article about whether or not deficits really matter, I was struck by this sentence, which was a paragraph in itself … Continue reading

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