Today I signed a letter authored by two economists with opposite political affiliations (Larry Summers and Phil Gramm.) Their letter states the case (to Congress) for opposing the use of tariffs as a general tool for economic policy. Two snippets from their letter close this posting. In my previous posting on the proposed Trump tariffs, … More Tariffs and Capital Flows
In an April 2024 piece published in Project Syndicate, Dani Rodrik addresses this question. My posting, based on Rodrik’s article, adds information to support the following primary claim that Rodrik makes: It is difficult to avoid the conclusion that boosting manufacturing employment is like chasing a fast-receding target. The world has moved on, and the … More Why Are Policy-Makers So Fascinated by Manufacturing?
In November 2021, after being a guest on Josh Dukelow’s Fresh Take program, I posted two related pieces: one on whether inflation was temporary or not and a second on the role of monetary policy. It’s time for an update, especially since the inflation rate has risen significantly since November 2021 (see the below chart) … More Sustained Inflation: Is a Monetary Policy Response Needed?
Inflation, Government Spending and Modern Monetary Theory On Tuesday, November 16th, I was a guest on Josh Dukelow’s Fresh Take program . We discussed a variety of topics related to inflation including governmental spending and modern monetary theory. Since I put together a set of notes for the program, I decided to take this opportunity … More Inflation: Temporary or Sustained ?
No Con Economics 