Article Archive
The Myth of the Limits on Itemized Deductions
Media misinformation is the real threat to charitable giving. For better or worse, the fiscal cliff deal doesn’t actually cap any itemized deductions.
Partisan Polls?
Press coverage of polls gives these imprecise tools much more weight than they deserve. Voters should keep this in mind as they are confronted with the inevitable avalanche of polls between now and Election Day.
The Uses of LIBOR and the Victims of Its Manipulation: A Primer
Little attention has been paid to why LIBOR is important, who might have been harmed by its manipulation, or how to think about the financial ramifications.
How Much Have House Prices Really Fallen?
If we could stop the government’s constriction of private mortgage credit, recovery could begin sooner rather than later.
Fearful Symmetry: Six Decades of Treasury Yields
Interest rates in the market for U.S. Treasury debt display surprising behavior—behavior that previous market participants considered simply impossible.
Why Growth Matters More than Debt
The proper question is not how will America pay foreign creditors back but rather what will maintain China and Japan’s desire to buy low-interest Treasury securities from us?
Cadillac Pay in the Land of Lincoln
Illinois public employees likely receive a significant pay premium over similar private sector workers.
Obama’s Weakness in Historical Context
On a variety of indicators, President Obama has far more in common with incumbent presidents who lost their bid for reelection than with those who won.
Karl Marx’s Long Shadow in Eastern Europe
Communist political philosophy is still a powerful force in many former Soviet bloc countries.
There’s Usually a Banking Crisis Somewhere!
Add together fundamental illiquidity and smallness of capital, and what have you got?
The Soothsayers of Macroeconometrics
Applying macroeconometric models to questions of fiscal policy is the equivalent of using pre-Copernican astronomy to launch a satellite.
The Myth of Middle-Class Stagnation
It’s time to correct a misconception regarding middle-class income.
Solving the Long-Term Jobs Problem
Stimulus has failed. It’s time to unleash entrepreneurs in the new commanding heights of the economy: healthcare and education.
Senior Moment: Reduce COLAs and the Social Security Deficit
Reducing Cost of Living Adjustments by basing them on a more accurate measure of inflation would alleviate the long-term Social Security deficit.
Will 1970s Haircuts Ever Come Back into Style?
We have a lot to learn from Gerald Ford’s response to New York City’s fiscal crisis.