Commentary Many critics of mainstream economics believe that economists are in the pocket of Big Business: that they’re paid shrills who say what their corporate paymasters want them to say. With 50 years of experience of economists—and 30 years of that as an academic economist myself, though a decidedly non-mainstream one—I can categorically say that…
Can We Now See that Economics Does Not Diverge From Public Health?
Commentary The dramatic shortage of baby formula underscores the point: a functioning economy is essential to public health. It’s the same with inflation and food shortages: if you cannot afford to eat or the shelves at the grocery are empty, that results in a diminution of public health. If products essential to life—parts to fix trucks or…
Biden’s Big Lie: ‘Green’ Energy Doesn’t Save Money, It’s 4 to 6 Times MORE Expensive
Commentary President Joe Biden keeps claiming that wind and solar energy are going to save money for consumers. But more government subsidies to “renewable energy” is a key feature of the White House anti-inflation strategy recently announced by Biden. He probably got that idea from John Kerry, the administration’s climate czar, who recently claimed that “solar and…
Why Keynesian Economics Is Destined To Fail
April 19, 2022
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Business & EconomyBusiness Columnistseconomic policieseconomicseconomyinflationKeynesianKeynesian EconomicsOpinionViewpoints
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Commentary My colleague, Doug Kass, penned an interesting note suggesting “Keynesian Economics” will fail. To wit: “At the core of the Keynesian theory is that the coordinated monetary and fiscal policies can stabilize economic output, inflation, and unemployment over the business cycle. As noted above, there are exogenous forces at work in this cycle which…
A Tax Proposal Driven by Greed and Envy
President Joe Biden has just proposed the biggest federal budget request in U.S. history–with the exception of his near $7 trillion spent last year. When I came to Washington in 1985, the federal budget hit $1 trillion. Now, we are in the $6 trillion to $7 trillion range, and we wonder how it is that…
Australia and India to Ink Free Trade Deal as Australia Pushes For Market Diversification
February 21, 2022
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AustraliaAustralia-IndiaDan Tehaneconomicsforeign affairsFree Trade DealIndiaInternationalMarket Diversificationtrade diversificationWorld
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Australia and India are set to ink an interim free trade deal in the next three weeks, which has been considered an important move in deepening trade relations and furthering Australia’s push for diversification. The agreement precedes a Comprehensive Economic Cooperation Agreement (CECA) which is expected in 12-18 months and aims at boosting opportunities in…
The New Anti-Economics
Commentary Economics is about human action and choice within the context of scarcity. The problem facing economists is how to understand and explain human betterment, which is another way of saying production. The critical question, posed correctly by economist Per Bylund, starts with scarcity as the default point for understanding purposive human behavior: Anti-economics, by…
Spotify And The War On Free Speech
In this episode, I follow up on the war Neil Young waged with Spotify, which has placed music, artistry, business, economics, the 1st Amendment, and a national conversation all in the spotlight, where righteous virtue signaling is being heralded over good business and access to music. If we can’t have conversations, we will become a…
The Dead and Unborn Should Have a Voice in the Now
Commentary If you’ve ever read or listened to Milton Friedman, the Nobel Laureate economist, chances are you heard him state that people vote with their feet. America, through its founding documents, has given its citizens the opportunity to do so. This decisive action by her citizens ranges from department stores to cities to states. If…
Meat Packers’ Profit Margins Jumped 300 Percent During Pandemic: White House Economics Team
December 11, 2021
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AmericasBusiness & EconomyBusinesses in COVID-19CompanieseconomicseconomyExecutive BranchGold & CommoditiesinflationInternationalJoe BidenMarketsmeatPackerspandemicPoliticsprofitRegional-Local NewsUSUS NewsWorld
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WASHINGTON—Four of the biggest meat-processing companies, using their market power in the highly consolidated U.S. market to drive up meat prices and underpay farmers, have tripled their own net profit margins since the pandemic started, White House economics advisers said. Financial statements of the meat-processing companies—which control 55 percent–85 percent of the market for beef,…
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