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1 Central Banks Are Wrong about Rate Cuts
Daniel Lacalle2 IMF Chief Urges Caution: Central Banks Should Resist Early Rate Cuts Amid Inflation Concerns
Anas Bouargane3 Millions to Benefit From UK's New Flexible Working Bill
Daniel Hall4 UK House Prices Experience First Monthly Decline in Six Months
Anas Bouargane5 UK Wage Growth Expectations Hit 2 Year Low
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What Did Gutenberg's Printing Press Actually Change?
There's an old slogan for journalists: "If your mother says she loves you, check it out." The point is not to be too quick to accept what you think you already know.
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The Remarkable Renaissance in US Fossil Fuel Production
M. King Hubbert was a big-name geologist who worked much of his career for Shell oil. Back in the 1970s, when OPEC taught the US that the price of oil was set in global markets, discussions of US energy production often began with the "Hubbert curve," based on a 1956 paper in which Hubbert predicted with considerable accuracy that US oil production would peak around 1970. The 2019 Economic Report of the President devotes a chapter to energy policy, and offers a reminder what happened with Hubbert's curve.
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Wealth, Consumption, and Income: Patterns Since 1950
Many of us who watch the economy are slaves to what's changing in the relatively short-term, but it can be useful to anchor oneself in patterns over longer periods. Here's a graph from the 2019 Economic Report of the President, which relates wealth and consumption to levels of disposable income over time.
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Some Peculiarities of Labor Markets: Is Antitrust an Answer?
Labor markets are in some ways fundamentally different from markets for goods and services. A job is a relationship, but in general, the worker needs the relationship to begin and to last more than the employer does/ John Bates Clark , probably the most eminent American economist of his time, put it this way in his 1907 book, Essentials of Economic Theory.
- 1
Capital Flows – Is a Reckoning Nigh?
· Borrowing in Euros continues to rise even as the rate of US borrowing slows
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Why Economists Usually Oppose New Light Rail and Subways
When it comes to urban mass transit, economists often find themselves arguing that, the ratio of benefits to costs in most is far better for buses than for rail-based system--unless there is a densely populated urban core where nearly-full trains can run a very frequent intervals. Matthew Turner explains why in "Local Transportation Policy and Economic Opportunity," written for the Hamilton Project at the Brookings Institution (January 31, 2019).
- 7
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