The Tyranny of the Phillips Curve

Repeat after me, class: Growth does NOT cause inflation. Write it on the blackboard 100 times. For decades, the economics profession has been trying to tell us all just the opposite. They keep shoveling out the dumbest economic concept of all time: the Phillips Curve. This was the lame-brained "theory" by neo-Keynesian economists of the 1960s and 1970s that to slow inflation, the Federal Reserve needs to raise unemployment and slow down economic growth. The whole concept of an inverse relationship between unemployment and inflation blew up when it was put into practice in the mid-1970s and ...

‘Bidenomics’ Is a Marketing Term

Politics is sometimes little more than marketing. As evidence, behold the sudden use of the term "Bidenomics" by Democrats to describe administration policies of the past few ...

Biden Declares War on Profits

White House press secretary Karine Jean-Pierre recently reiterated a point the Biden White House has been making for the past year: that inflation remains high not because of the ...

Three Warnings About Election Season

As elections approach, sweeping generalizations have a certain allure that often energizes the frustrated and captivates the hopeful. However, it's essential that we as voters ...

Bidenomics Is a Big Bust

Word out of the White House is that President Joe Biden wants to tout his economic successes. He's even embracing the slogan "Bidenomics" -- which most people think is a term of ...

Hey, Uncle Sam: Stop Paying People for Not Working

A policy question these days that has befuddled federal lawmakers is why so many millions of people have not returned to the workplace in the post-COVID-19 era. The labor force ...

It’s Official: Trump’s Tax Cuts Paid for Themselves

How many times have you heard President Joe Biden or Sens. Elizabeth Warren (D-MA) and Bernie Sanders (I-VT) berate the Trump tax cuts as "a giveaway to the rich"? Biden and ...

Even Republicans Are All in on Washington’s End-of-Year Spending Spree

The federal government is running annual $1 trillion to $2 trillion budget deficits, which is more than the entire gross domestic product of most nations. But if you believed that ...

Federal Reserve Bank, Washington D.C.

Your Money or Your Life: Capitalism as the New Communism (and Vice Versa)

“It is a characteristic of wisdom not to do desperate things.” —Henry David Thoreau, Walden (1854) Long ago, in a universe of sane fiscal policy far, far away, there ...

The Street Keynesians

According to a poll carried out by the Figaro newspaper, only 17% of the French believe that 2014 will be a good year, but in fact it started very well for France. Only 1,064 cars ...

Jewish Wealth by the Numbers

Americans can learn much from Israel. It’s an increasingly prosperous nation that grapples manfully with its problems. For example, when the Israelis put up a fence along ...

They Also Serve

The Occupy movement brags that the parks it seized once hosted Depression-era shantytowns. But on the eve of WWII, America heard little talk of class warfare. Back then the ...

The Day of the Hobbits

Mocked by The Wall Street Journal and Sen. John McCain as the little people of the “Lord of the Rings” books, the Tea Party “Hobbits” are indeed returning ...

Obama Blows up the Bridge

“Rather than building bridges, he’s poisoning wells,” said Rep. Paul Ryan, after listening to Barack Obama’s scathing attack on his deficit reduction plan ...


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