All Posts Tagged With: "Treasury"

Rutherford B. Hayes and the Financing of American Prosperity

Rutherford B. Hayes, America’s nineteenth president (1877–1881), is generally dismissed as a minor, even below-average president. Matthew Josephson, the journalist-chronicler of the late 1800s, insisted that Hayes had “no capacity for . . . large-minded leadership.” Other historians have written him off as just another cipher among a string of forgettable chief executives of the [...]

23Oct2009 | Burton W. Folsom Jr. | 1 comment | Continued

One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe

In his latest work, One Nation Under Debt, Robert E. Wright, who has written extensively about debt and finance during the decades that marked America’s climb to economic preeminence, carefully documents the evolution of U.S. dependability and integrity in the international investment community. This reputation led to the acceptability of U.S. financial markets and government [...]

19Aug2009 | David L. Littmann | 1 comment | Continued

Transforming America: The Bush-Obama Stimulus Programs

George W. Bush’s and Barack Obama’s “stimulus” programs will permanently transform the American economy. The market-based system that has produced unprecedented prosperity relies on profit and loss, which rewards individuals and firms that add value to the economy and penalizes those that detract value. The various stimulus programs undermine that system.
My discussion will focus on [...]

19Aug2009 | Randall G. Holcombe | 3 comments | Continued

A Microeconomist’s Protest

The conventional macroeconomic diagnosis and proposed cures ignore many important structural or microeconomic factors.

1Apr2009 | Mario Rizzo | 8 comments | Continued

The Financial Bailouts: “See the Needle and the Damage Done”

On Wednesday, September 17, 2008, according to the New York Times, Fed Chairman Ben Bernanke used “a speaker phone from his ornate office” to tell Treasury Secretary Henry Paulson “that it was time to adopt a comprehensive strategy that Congress would have to approve” for dealing with the financial-market troubles. After a second call on [...]

27Feb2009 | Lawrence H. White | 8 comments | Continued