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QE is a Mistake—a Big One
Allan H. Meltzer, Carnegie Mellon University and Hoover InstitutionWith $2.5 trillion sitting idle on bank balance sheets and more than $2 trillion additional sitting on corporate balance sheets, we...
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Yellen’s Strong Performance Bodes Well for U.S. Economy
The markets applauded Janet Yellen’s report to Congress earlier this week, with stocks, in particular, gaining back a good part of what they had lost since the beginning of 2014. This enthusiasm seems...
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e21 Olympics: Capital Gains Tax Rate
The gold medal in the capital gains tax rate event will be shared by nine countries. Belgium, Czech Republic, South Korea, Luxembourg, Netherlands, New Zealand, Slovenia, Switzerland, and Turkey all do...
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e21 Asks: Should House Republicans Pursue Immigration Reform?
In this week’s e21 Asks poll, we asked readers, “Should House Republicans pursue immigration reform?” Almost half (48 percent) voted that they should since doing so “would boost the economy and create...
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Oil Is Where the Growth Is, So Let's Drill
The economy is stumbling along at 2 percent annual GDP growth and employment growth continues to disappoint. One bright spot is energy, which is booming despite government obstacles. With more...
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e21 Olympics: Employment
Today’s e21 Olympics event, Employment, was a close contest that was difficult to judge. Evaluating a country’s labor market health involves more than simply looking at its unemployment rate. Because a...
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Where are the Jobs? In Oil and Gas
Five years after the beginning of economic recovery, U.S. employment is still almost one million jobs below 2007 levels. However, jobs related to America’s oil and gas industry have been booming. Jobs...
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Oil and Gas Boom Propels GDP
The American economy is still slowly recovering from the recession. U.S. GDP growth continues to fall short of the last half-century’s track record (see graphic). Overall GDP growth has been far too...
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Can Higher Wages Actually Hurt the Economy?
The Congressional Budget Office recently released a report with an estimate of the economic effects of raising the minimum wage from $7.25 to $10.10 an hour.The results have been generally viewed as a...
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America is Losing the Tax Olympics
America is performing well in the Sochi Olympics, but how would the medal count differ if countries competed on taxes rather than winter sports?In a competition based on corporate tax rates, the United...
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Record-High Deficits Are Not “Austerity”
This morning’s Washington Post contained a front-page article that included the following sentence:“With the 2015 budget request, Obama will call for an end to the era of austerity that has dogged much...
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e21 Asks: Economic Growth Industries
This week we asked e21 readers the following: “Which industry will drive U.S. growth over the next decade?” The most popular response was “energy” which received 39 percent of votes. “Healthcare” and...
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The Post Office is No Bank
Progressives are understandably troubled about the high price that the poor pay for financial services, such as check cashing or payday loans. Last month, the Inspector General of the U.S. Post Office...
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The Illusion of Reform and the Next Housing Crisis
This article is adapted from the authors’ new book, Fragile by Design: The Political Origins of Banking Crises and Scarce Credit (Princeton University Press, 2014). Is America’s housing finance crisis...
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The Myth of Big Oil
A key feature of America’s ongoing oil and gas production renaissance is that the vast majority of the jobs created have not come from the “Big Oil” companies, but from small businesses.Manhattan...
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The Fight Against Income Inequality Starts With Children
As Washington politicians quibble over how to help low-income families, the Neighborhood Outreach Connection in Hilton Head, South Carolina, is stepping up to the plate. By setting up classrooms in...
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Minimum Wage Supporters Mischaracterize Its Effects
As President Obama pushes to increase the minimum wage to $10.10 an hour, supporters continue to mischaracterize its effects.Despite a Congressional Budget Office report showing that 500,000...
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Out today from Princeton University Press: Fragile by Design: America’s...
In their new book, Fragile by Design, Columbia University professor Charles W. Calomiris and Stanford University professor Stephen H. Haber explore why banking systems are unstable in many...
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The Oscars, Financed by Your Tax Dollars
On Sunday night, Hollywood producers and movie stars will walk the red carpet at the Academy Awards. But the hosts of the Oscars aren’t the only ones who roll out the red carpet for this crowd. Many...
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Dave Camp’s Tax Plan Doesn’t Go Far Enough
I had high hopes for House Ways and Means Chairman Dave Camp’s tax reform plan. Those hopes were dashed.Yes, I knew that the plan did not have much chance of passing the Senate under its current...
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