News

Recent posts and articles from IGEG fellows, advisers, experts and scholars.

‘Forever Fed,’ but Why?

Everyone has heard of the Federal Reserve Bank or “The Fed” and that it has something to do with the value of our money — and so it must be very important. But few even claim to really understand what the Fed does and how it does it. This past week, The Economist...

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What is not Known about the Economy

How much will the stock market rise this year? As an economist, I frequently get variations of that question. If I am honest and say “I have no idea,” the questioner most often walks away with a disappointed look. If I say something like “10.4 percent,” the questioner...

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From a Whimper to Success

Three decades ago, the socialist/communist economies of Eastern Europe died, not with a bang as many had feared, but with a whimper. It was obvious that the economies of those countries were falling further and further behind their Western Europe counterparts — and...

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The Real Problem of This Federal Republic

It appears that a number of the new presidential candidates are not aware of the fact that the United States of America is a constitutional federal republic, and not a parliamentary democracy. Recent calls by some to abolish the Electoral College and drop the voting...

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Connecting the Dots of Corruption

You may have noticed that there have been a number of people in the top ranks of the FBI and Justice Department — like Robert Mueller, James Comey and Andrew McCabe — who have had powerful jobs regardless of whether the administration is Democratic (Clinton/Obama) or...

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Starting Over in Venezuela

The economy of Venezuela has collapsed as a result of gross socialist mismanagement. The currency is essentially worthless. To start over, the next government of Venezuela must re-establish the rule of law, protect private property rights and create a new currency....

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Government Debt, a Real Crisis

“Mankind is doomed!” Headline writers have been writing that headline since the invention of printing — and someday it will come about. For about four decades, that headline has most often been applied to the threat of global warming. Every couple of years, some...

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Destroying Success with Socialism

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…” Charles Dickens wrote those words referring to the era of the French Revolution a little over two centuries ago, but they could equally apply to today....

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When Socialism is Romanticized

Who should pay for your health care? For your education? For your retirement? “Socialism,” we are told by the pollsters, is gaining in popularity at least the romanticized versions of it. It would be a world without poverty where people have everything they need, and...

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The Return of the Tax Bullies

Bully: “A person who uses strength or power to harm or intimidate those who are weaker.” In civilized societies, children are taught not to bully. The “#MeToo” movement has declared war on adult sexual bullies. But there is one area where the bullies have not been...

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Genocide, Slavery, and Immigration

My New Year’s wish for the coming year is for more of my fellow Americans and others to learn some basic history and try to get a grip on reality. Someone who writes for The New York Times under the name of Michelle Alexander wrote a column published last week, “Who...

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A Fool’s Errand

Federal Reserve Chairman Jerome Powell just announced another quarter-point interest rate hike. The markets immediately responded by dropping several hundred points. In his arrogant and smug statement, Mr. Powell told us that the economy needed higher interest rates....

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