Category Archives: Economic Recovery

The “Better Deal” is Another Raw Deal

The Democratic Party, recognizing that it has lost touch with many of its former constituents, rolled out its “Better Deal” this week in Virginia.  We have now had Teddy Roosevelt’s “Square Deal,” Franklin Roosevelt’s more famous (or infamous) “New Deal,” Harry Truman’s “Fair Deal,” and now the latest “deal” for the American people.  All of these deals by the way were proposed by Liberal/Progressives, coincidentally or not.  As we should let’s look at this new proposal.  To provide a little… Continue Reading ››

Making Cities “Great” Means Making People “Great”

I just returned from a visit with my mother in my (and her) home city, Huntington, West Virginia.  We drove by way of Portsmouth, Ohio.  Both cities are in “flyover country” and both have suffered from the heavy (and likely irreversible) loss of manufacturing jobs.  To give you an idea of the losses, Huntington has dwindled from about 90,000 residents in 1960 to about 45,000 today.  Even accounting for suburban flight, that is a big loss–and the suburbs haven’t grown… Continue Reading ››

Will Mr. Trump be the Squanderer-in-Chief?

These are difficult days in the Trump administration.  Really? Difficult days in only two weeks on the job?  No Bereans were happy with Mr. Trump’s personal character, and no Bereans were happy with all of his policy prescriptions.  Yet most of us believed that Mrs. Clinton was a worse evil, and all of us thought that at least parts of his agenda could be very positive.  I have focused on the economic impact of his agenda, and while I was… Continue Reading ››

The City of Man

I am sitting in the San Antonio airport, waiting for my flight back home, reflecting on an excellent Values and Capitalism retreat here and–the subject of this blog–my walk yesterday.  My goal was to walk to a bookstore about two miles from my downtown hotel.  I had mapped it out using Googlemaps and set out for what I thought would be about a 20 minute trip one way.  37 minutes later I realized I had gone too far and had… Continue Reading ››

Trumpian optimism

Like most of my fellow Bereans, I would wish for a different outcome for president.  Yet I awoke on Wednesday with some political hope for the first time in eight years.  Yes, there are significant dangers, and Mr. Trump will likely provide more embarrassment than usual. But perhaps politics will follow the fundamental rule of finance, that risk equals reward. Considering his economics, I have both lauded and condemned Mr. Trump.  On the laudatory side, he rightly has questioned the… Continue Reading ››

Dueling Economic Proposals: Will They Sway Anyone?

I have so far avoided taking any position on the two main candidates for president.  For my colleague Mark Smith, don’t worry, I will.  I intend to continue the path of avoidance in this blog.  Today I would like to examine and evaluate each candidate’s economic program.  I say nothing about their personal morality, or personality, or anything except economic program as articulated formally.  Donald Trump and Hillary Clinton have both now laid out their plans.  I will look first… Continue Reading ››

Why Job Growth is Stagnant (Not to Mention Other measures)

In a National Review article of June 21, 2016, Michael Barone explored the question of whether the United States economy has shown any growth, and if not, why not.  The article, entitled “Why We have—and Probably Will Keep Having—Sluggish Job Growth,” relies on a recently published book by the economist Arnold Kling, Specialization and Trade: A reintroduction to Economics.  Kling’s argument, supported by economic history and data, begins with this, according to Barone: “[The book is,] among other things, a… Continue Reading ››

Minimum Wage, Minimum Work, Minimum Dignity

California, predictably, has passed a $15/hour minimum wage.  New York is likely to. A few cities have done it already.  Bernie Sanders wants a Federal wage of $15, while Hillary Clinton wants a $12 wage.  And so the issue is once again on the table, at a time when wages are stagnant and unemployment is tepid.  In fact that is why the issue has become so important again to its advocates.  It looks like the high minimum wage is being… Continue Reading ››

Protectionism, Donald Trump and the Kevin Williamson Blast

It seems this blog overlaps one just published by my colleague Jeff Haymond.  But I will publish mine anyway, since it nicely supplements his. Donald Trump has been saying quite a bit recently about the disappearance of (especially) manufacturing jobs in the South as well as the “Rust Belt,” blaming those lost jobs on the trade policies of both Democrats and “establishment” Republican politicians.  But in addition, an article appeared recently by Kevin Williamson, or at least is scheduled to… Continue Reading ››

Trump, Sanders and Unemployment

This morning the Bureau of Labor Statistics released its monthly Employment Situation Summary. The unemployment rate remained at 4.9%. I was reading MoneyBeat blog at the Wall Street Journal. The following quote (posted at 8:45 AM) caught my attention. U-6 includes everybody, and that rate is at 9.7%. That is a high number for a purported recovery that is nearly six years old. You want to know why Bernie Sanders and Donald Trump are getting as much traction as they are?… Continue Reading ››