Aug 26, 2021
The economic recovery is not playing out as Federal Reserve Chairman Jerome Powell or the Biden administration anticipated.COVID has accelerated trends that altered supply and demand conditions in many industries and labor markets that would have occurred more gradually had...
Aug 19, 2021
Wars, famines, and pandemics elicit massive government responses. The state must marshal whatever it takes or risk conquest, violence, and state entropy. An equally significant challenge is to roll back the Leviathan when the threat passes.The U.S. government was successful...
Aug 5, 2021
President Joe Biden wants to raise taxes on capital gains but competing with China requires serious reforms neither party has embraced.For virtually all of the last century, capital gains have been taxed at lower rates than wages and other income. Currently the top...
Aug 2, 2021
The COVID pandemic has hit women in the workplace hard. They serve in many public-facing positions that were at least temporarily lost, and school closures exacerbated already difficult child-care challenges.Equally disquieting, the crisis accelerated the secular decline in...
Jul 22, 2021
Federal Reserve Chairman Jerome Powell and many economists were surprised by how much inflation has accelerated. May and June prices, as measured by the consumer price index, were up at 8% and 11.4% annual rates over their prior months.Powell has convinced himself and...
Jun 24, 2021
President Joe Biden's budget deficits threaten to ignite the kind of inflation that followed the Vietnam War and Great Society, and Federal Reserve Chairman Jerome Powell appears content to enable him.The president inherited most pieces for a robust recovery.The $4 trillion...
Jun 17, 2021
Brace for a summer rally.Even with stocks pushing new records and the Federal Reserve under pressure from inflation to push up interest rates, the outlook for corporate profits is strong and that will overwhelm the pessimism among a chorus of experts.COVID-19 shutdowns...
Jun 3, 2021
President Joe Biden has big plans to create jobs and raise wages by spending more on infrastructure and industrial policies and to improve conditions for ordinary folks by funding pre-K education, free community colleges, and child allowances with higher taxes on...