Do not confuse economic heat with economic overheating!In my last post, I argued that economists do not know either the unemployment rate at full employment or the level of potential GDP (meaning GDP at full utilization of the economy's human and capital...
Don’t worry about the national debtIf something cannot go on forever, it will stop, said Herbert Stein, President Nixon's chairman of the Council of Economic Advisors. America's national debt has grown from 32 percent of GDP in 1981 to...
The best hope for cutting US drug costsAmericans are suffering pharmaceutical sticker shock. But the remedy Democrats are backing - price controls on prescription drugs - would inflict more harm by halting new medical discoveries and doomi...
Agriculture and autonomy in the Middle EastIn Rojava, a region in Syria also known as North Kurdistan, a groundbreaking experiment in communal living, social justice, and ecological vitality is taking place. Devastated by civil war, Syria is a...