Category Archives: Jobs and economy

The Federal Reserve: Less than meets the eye?

Norbert Michel of the Heritage Foundation has released a new study questioning the value of the Federal Reserve. Here’s the study‘s abstract: Many economists take for granted that the Federal Reserve has positively contributed to economic stabilization in the U.S. In particular, it is widely believed that the Fed has helped tame business cycles andContinue Reading

Washington Examiner: One major party appears to reject basic economic principles

The Washington Examiner’s editors draw a disturbing conclusion from Hillary Clinton’s recent populist diatribe. At a recent political event in Massachusetts — a state represented by the populist liberal and potential 2016 Democratic presidential rival Sen. Elizabeth Warren — the former first lady made a puzzling utterance about how the economy works. “Don’t let anybodyContinue Reading

The sun still rises in the east, and the government-mandated minimum wage is still bad policy

Iain Murray of the Competitive Enterprise Institute explains for Washington Examiner readers why, despite its popularity, a minimum-wage increase remains a bad idea. There are few policies more popular than increasing the federal minimum wage. In a 2013 Gallup poll, 76 percent of respondents approved of the idea. It seems to make economic and moralContinue Reading

New Carolina Journal Online features

Don Carrington reports for Carolina Journal Online that a federal official nominated by U.S. Sen. Kay Hagan limited access to records linked to a grant benefiting Hagan’s family members. John Hood’s Daily Journal focuses on contrasting assessments of the North Carolina economy.

British historian Johnson worries his own country might follow France’s lead

Historian Paul Johnson‘s latest column for Forbes spells out some key problems plaguing France. Johnson worries his home country might follow suit in the not-too-distant future. AT PRESENT FRANCE IS a good example of how not to run a country. President François Hollande says he’s a socialist, but he has an upper-class lifestyle and refersContinue Reading

Forbes laments the Fed’s reaction to recent news about the dollar

Steve Forbes explains in the latest issue of Forbes magazine why he worries about the Federal Reserve’s recent reaction to a stronger dollar. THE FEDERAL RESERVE is reportedly upset about the dollar’s recent strength, fearing this will foil its desire to create a certain amount of inflation and thereby retard economic growth. In the Fed’sContinue Reading

McDonald’s is struggling right now. Backers of a huge minimum wage increase take note.

My newsletter draws lessons from McDonald’s struggles, which owe to dealing with significant price increases in inputs such as beef, cheese, and pork, trying to hold onto its signature Dollar Menu items, and quietly raising prices elsewhere. Consumers are adjusting accordingly (demand curves slope downwards), especially those whose interest in McDonald’s is as a low-priceContinue Reading

Canada shows the way on USAs

Chris Edwards of the Cato Institute highlights some positive news from our neighbors to the North. A tax reform is spurring a savings revolution in Canada. Amity Shlaes and I wrote about Canada’s Tax-Free Savings Accounts (TFSAs) in the Wall Street Journal in August. We think that such accounts would be a fantastic policy reformContinue Reading