Valerie Ramey on Stimulus and Multipliers 10/24/2011
07 Nov 2021 Leave a comment
in budget deficits, business cycles, econometerics, economic growth, economic history, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, macroeconomics, public economics
Determining the Value of Money: Next Steps for the Fiscal Theory of the Price Level
07 Nov 2021 Leave a comment
in applied price theory, budget deficits, business cycles, economic growth, economic history, Euro crisis, financial economics, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics, Robert E. Lucas Tags: inflation, monetary policy
Stalin at War – Stephen Kotkin
07 Nov 2021 Leave a comment
in defence economics, economic history, war and peace Tags: World War II
The importance of not having dumb policy regimes
06 Nov 2021 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, development economics, economic history, economics of bureaucracy, economics of regulation, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, industrial organisation, international economic law, international economics, labour economics, Public Choice, rentseeking, survivor principle Tags: The Great Enrichment
Israel 1983: A bout of unpleasant monetarist arithmetic
06 Nov 2021 Leave a comment
in budget deficits, economic history, financial economics, fiscal policy, history of economic thought, macroeconomics, monetarism, monetary economics Tags: hyperinflation, inflation
#endoil?!
06 Nov 2021 Leave a comment
in energy economics, environmental economics, global warming Tags: climate alarmism, The fatal conceit, unintended consequences
06 Nov 2021 Leave a comment
in economics of religion Tags: Blasphemy, free speech, Freedom of religion
November 5 1941-We attack.
06 Nov 2021 Leave a comment
Pearl Harbor was attacked on December 7th 1941. We have all seen the images of that fateful day. However the order for the attack was given more then a month before.
On November 5th, 1941, the 7th Imperial Conference was convened, and two types of request proposals (Draft A and Draft B) were decided upon.
From 10:30 to 15:15, on Wednesday November 5, 1941, t The 7th Imperial Conference is held. Two different Japanese proposals were decided on for submission to the US. These two plans were referred to as Draft A and Draft B. Japan planned to first propose Draft A in negotiations and if not accepted, propose Draft B, which included additional concessions.
Preliminary planning for an attack on Pearl Harbor to protect the move into the “Southern Resource Area” (the Japanese term for the Dutch East Indies and Southeast Asia generally) had begun very early in 1941…
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House and land prices
06 Nov 2021 Leave a comment
The local Wellington magazine, Capital, which seems to be a curious mix of the serious and the lifestyle, earlier in the year asked if I would write a piece on house prices. That article outlined the story I’ve run here repeatedly, that durable and very large reductions in house and land prices are quite possible – we see everyday examples in perfectly pleasant urban areas in the United States – but are only likely to happen if there is genuine aggressive competition among owners of land beyond existing urban areas. It is that sort of competition, from land whose best other use is probably for something agricultural in nature, that would durably lower land (and house) prices in existing urban areas.
That article ran in April. In late September the editor got in touch and asked if I was interested in doing another piece. Since there had been numerous…
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The Party of the Rich Is Pushing a Tax Cut for Rich People
06 Nov 2021 Leave a comment
There’s a political party in the United States – the Democrats – that represents rich people and it is trying very hard to cut taxes for those rich people.
Since I don’t resent rich people (indeed, I applaud them if they earn their money honestly), I generally want lower taxes for upper-income taxpayers. But I don’t want special tax breaks for rich people. Instead, I want to cut their taxes in ways that promote greater national prosperity so that I’ll benefit as well.
- Lower top income tax rates.
- Lower tax rates on capital gains.
- Lower tax rates on dividends.
- Lower death taxes.
Sadly, those aren’t the options the Democrats are choosing.
They are putting all their energy into a dramatic expansion of the state and local tax deduction. This is the tax break that rich people get when they use state and local tax…
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