Re: John L. Chapman: The Fed Should Tighten to Slow the Growth of MZM?

In The Wall Street Journal on April 29, another AEI economist, John L. Chapman, took the exact opposite position from John Makin. Chapman suggested the Fed “should soon begin a series of rate increases.” The title was “The Fed Must Strengthen the Dollar,” but that is not what he wrote. Chapman just advocated “a stable […]

Re: Ronald McKinnon: The Fed Should Tighten to Push the Euro Down?

In The Wall Street Journal of April 25, Ronald McKinnon of Stanford proposed “raising the fed funds rate as much as necessary to strengthen the dollar.” McKinnon’s argument had little to do with inflation, so he could just as well have asked the European Central Bank to lower interest rates as much as necessary. Yet […]

Re: John Makin: The Fed Should Ease to Inflate House Prices?

The Wall Street Journal has been extremely ecumenical about airing a variety of critics of the Federal Reserve on its editorial page. In a series of posts, I will suggest reasons for remaining skeptical about the logic and evidence behind all of this policy advice. On April 14, John Makin of the American Enterprise Institute […]

Planet Napolitano

Writing in The Wall Street Journal, Arizona Gov. Janet Napolitano (D) recently complained that the Bush administration is abandoning federal spending commitments, “cost-shifting to the states,” and creating budget deficits in states like Arizona. In companion letters to the editor of today’s The Wall Street Journal, the Goldwater Institute’s Darcy Olsen and I inquire as […]

‘The Amazing Hillary’

Hurry, hurry, hurry! Step right up, ladies and gentlemen, and see the Diva of Deception, the Impresario of Illusion — THE AMAZING HILLARY!! Watch her make the federal gas tax SEEM TO DISAPPEAR!! But in fact, you’ll still be paying the same price for gas! Even the media can’t figure out this trick!! She’s remarkable! […]

Bureaucracy at Work

Have you ever wondered why people marvel at the stupidity of bureaucracy? Read this if you have, and then ask yourself, is there no rainy-day fund from which the 4th largest school district in the country could pull a single dollar? Or couldn’t the district just budget the money and save it for the next […]

Expected by Whom?

A new report by the Georgetown Public Policy Institute finds that DC public schools did not respond to rising competition from charter schools “as expected”? Expected by whom? No one who has studied the behavior of monopolies, or simply stood in line at the DMV, would expect the public school bureaucracy to react with vigor […]

The EU Sides with the Thugs in Bolivia

This Sunday, the department of Santa Cruz, the richest region of Bolivia, will hold a referendum on regional autonomy. Other departments in the eastern half of the country will likely follow suit in the upcoming months. The central government in La Paz opposes the project and calls it “separatist.” Despite that, polls show that an […]

How Free are America’s Private Schools?

The Milton and Rose D. Friedman Foundation has a useful new report out that assesses regulation of private schools in all fifty states, assigning letter grades according to market freedom. Many of the criteria used are similar to those considered in the private schools section of the Cato Education Market Index (an overall ranking of […]

The Global Warming Hysteria that Isn’t, Part II

Last week, a Gallup poll was released revealing that about one-third of Americans worry “a great deal” about global warming, a number that hasn’t changed much since 1989. Less than half of the respondents believed that climate change would pose a serious threat to them in their lifetimes. The trade publication ClimateWire (subscription required) quotes […]