All Posts Tagged With: "recession"
Producing Jobs: Thoughts on Obama’s Plan for Small Businesses
The ears of small business America must have perked up when President Obama spoke about that critically important sector in his State of the Union address. Mine certainly did. Here’s when it really got interesting: “I’m . . . proposing a new small business tax credit—one that will go to over one million small businesses [...]
20May2010 | Bruce Yandle | 2 comments | ContinuedGovernment Must Stimulate to Avoid a 1937-Style Recession?
It is rather unfortunate that the Royal Swedish Academy of Sciences’ Economics Prize Committee chose to award the 2008 Nobel Prize in economics to Paul Krugman. It is not that Krugman did not deserve the prize—his contributions to international trade theory were indeed substantive and valuable. The problem is that by 2008 Krugman had long [...]
24Mar2010 | Ivan Pongracic Jr. | 6 comments | ContinuedMust We Live in Long-Term Recession?
There is an alternative, one that will lead to economic recovery, more wealth, and higher living standards.
24Feb2010 | William L. Anderson | 11 comments | ContinuedProducing Jobs: Thoughts on Obama’s Plan for Small Businesses
Too many policy boulders are being dropped in the water. One can hardly determine the effects of one before another one is thrown in the pool.
9Feb2010 | Bruce Yandle | 10 comments | ContinuedWhere the Jobs Are
Robert Higgs, editor of The Independent Review and a Freeman columnist, has a revealing article on today’s employment and unemployment. Juicy tidbit: Total employment peaked in 2007 at 137.6 million persons on nonfarm payrolls, fell slightly in 2008, and then dropped precipitously in 2009 to 132.0 persons, for a two-year loss of 5.6 million jobs. [...]
12Jan2010 | Sheldon Richman | 1 comment | ContinuedTGIF: Snow Job Summit
What are the odds that yesterday’s White House jobs summit will lead to the creation of any real jobs? The summit was based on the magic theory of government: Say the right incantations and reality will be reshaped according to one’s desires. There are no economic laws. There is only will. If we all think [...]
4Dec2009 | Sheldon Richman | 0 comments | ContinuedBoom and Bust: Crisis and Response
Gerald P. O’Driscoll’s TheFreemanOnline.org guest column is here.
23Nov2009 | Sheldon Richman | 0 comments | ContinuedBoom and Bust: Crisis and Response
America has experienced a classic economic boom and bust, which I first chronicled in “Subprime Monetary Policy,” The Freeman, November 2007, and then updated in the Wall Street Journal and elsewhere throughout 2008 and 2009. Stanford Professor John B. Taylor has now written a short, accessible book on the Fed’s easy-money policy: Getting Off Track: [...]
23Nov2009 | Gerald P. O'Driscoll, Jr. | 6 comments | ContinuedThe Depression You’ve Never Heard Of: 1920-1921
When it comes to diagnosing the causes of the Great Depression and prescribing cures for our present recession, the pundits and economists from the biggest schools typically argue about two different types of intervention. Big-government Keynesians, such as Paul Krugman, argue for massive fiscal stimulus—that is, huge budget deficits—to fill the gap in aggregate demand. [...]
18Nov2009 | Robert P. Murphy | 79 comments | ContinuedThe Distress Index (A Better 'Misery' Index)
I was thinking a few months ago that FEE should develop a new and more accurate “Misery Index”. The original “Misery Index” is really not all that useful since it measures only unemployment and inflation. Deflating prices bring the index down but do not necessarily indicate a healthy economy. Sometimes it’s the opposite. We need [...]
18Sep2009 | Mike Van Winkle | 16 comments | ContinuedRecovery or Not? And How?
NYU economist Mario Rizzo adds some good sense to the discussion of whether, as Paul Krugman contends, President Obama’s policies are making the economy recover. A taste: [W]hat is the mechanism by which about $70 billion in extra spending (the amount of the total package now spent) reduces the rate of increase in unemployment and [...]
11Aug2009 | Sheldon Richman | 0 comments | ContinuedThe Fatal Conceit
The politicians are confident that they can wisely spend trillions of your dollars. The arrogance of the political class is stunning.
17Jun2009 | John Stossel | 10 comments | ContinuedIt's About Time!
The Wall Street Journal‘s news staff doesn’t yet realize the economy consists of a temporal structure of production: Americans are saving more of their paychecks than at any time since February 1995, a shift toward thrift that could prolong the recession but strengthen the financial health of U.S. households and the overall economy if it [...]
2Jun2009 | Sheldon Richman | 0 comments | ContinuedRoger Garrison and the Austrian Theory of the Business Cycle
Professor Roger Garrison of Auburn University is one of today’s top proponents of the Austrian theory of the business cycle. He’s been busy showing, in his characeristically clear way, how the theory can account for today’s economic turmoil. His article “Mainstream Macro in an Austrian Nutshell” appears in the May issue of The Freeman. That [...]
12May2009 | Sheldon Richman | 0 comments | ContinuedWhat's Hope Got to Do with It?
People get upset if they think you don’t hope Barack Obama succeeds in fixing the economy. Any freedom advocate hopes he discovers what it would take for the economy to recover permanently: the repeal of taxes, spending programs, regulations, and the Federal Reserve Act — in other words, an overall and dramatic reduction in the [...]
1May2009 | Sheldon Richman | 0 comments | ContinuedGovernment Spending Is No Cure for Recession
Mario Rizzo debunks the claim that government spending is as good economically as private spending here. Definitely worth reading.
19Apr2009 | Sheldon Richman | 0 comments | ContinuedClueless Obama
If President Obama doesn’t understand why the economy tanked, he surely won’t know what recovery requires. And if he doesn’t know that, he’s surely part of the problem, not the solution. In his speech on the economy at Georgetown University this week, Obama again showed that he hasn’t a clue what caused the economic calamity. [...]
17Apr2009 | Sheldon Richman | 0 comments | Continued-
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