by John H. Cochrane via Grumpy Economist
"Stepping on a Rake: the Fiscal Theory of Monetary Policy" is new paper, just published in the European Economic Review.
Michael R. Strain | Bloomberg View
Many Americans seem not to believe that society can overcome real divisions and advance toward a common future with confidence and openness to the world. The populism of 2017 revealed this. But populism isn’t simply a 2017 phenomenon. Decades of slow-burning economic and social change contributed to the current populist moment. After such damage, can a national narrative be restored?
Michael R. Strain | National ReviewMichael Strain makes a case for a limited, energetic government. He observes that economics and culture have collided to create our current populist movement -- which is significantly affecting the economic policy debate. Strain underlies policies that can serve as basic principles to have a strong commitment to individual liberty, the free enterprise system, economic opportunity, and personal responsibility. He concludes by urging people to remember that the dignity of the human person should be a central concern to economic policy.
Economic growth
Michael R. Strain | Statement before the United States Senate Committee on the BudgetIn a statement before the United States Senate Committee on the Budget, Michael Strain argued that a growing private-sector economy is central to the health of society -- economic growth drives increases in living standards and quality of life. Strain argues that over long periods of time, nothing is more important to economic growth than innovation and a culture that allows for creativity and energy.