• July 7, 2023

Muddled Optimism

“A man hears what he wants to hear and disregards the rest…”

—The Boxer, Paul Simon, 1969

• October 7, 2022

Where Are the Workers?

By now it should be clear Federal Reserve leaders intend to keep hiking until the economy breaks. Their recent speeches and interviews all underline this. Specifically, they want to reduce the strong consumer demand that has been keeping goods and service prices elevated. Interest rate hikes are merely a tool they have to that end—and not a very efficient one, either.

• September 9, 2022

Labor Mysteries

Politicians talk about “jobs, jobs, jobs” because a steady income keeps people happy and (mostly) voting for incumbents. Carville once told us, “It’s the economy, stupid,” and it always has been. Economies in recession are usually bad for those in power.

• September 3, 2021

Human Capital Losses

Remember math class? Let me give you a quick refresher.