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 What Democratic Socialism Does To Economic Prosperity
by Lee Ohanian via PolicyEd Democratic socialism diminishes economic prosperity and ultimately requires a return to market-based policy.
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 The Medal of Freedom in Economics Editorial of The New York Sun | June 22, 2019
https://www.nysun.com/editorials/the-medal-of-freedom-in-economics/90739/ It turns out that President Trump's presentation Wednesday of the Medal of Freedom to the supply-side economist Art Laffer coincided with a record-high of the stock market -- at least as measured by the Standard & Poor's 500. That is nicely marked in the latest number of the FutureOfCapitalismblog, edited by our columnist Ira Stoll. He notes that the market's apex was hit despite the war-clouds scudding out of Iran. Continue Reading 
A Revival Of Research On Monetary Policy Rules For The Instruments
by John B. Taylor via Economics One Recently I had the opportunity to participate in several conferences on monetary policy: the annual Hoover monetary policy conference at Stanford in May, the 2019 Fed Review conference in Chicago in June, and the Macro Model Comparison Conference in Frankfurt also in June. There are many takeaways, but one was very evident. I will call it a “Revival of Research on Monetary Policy Rules for the Instruments.”  A Reform Agenda For Modi 2.0 quoting Raghuram Rajan via The Hindu Business Line Thirteen economists offer non-partisan, common-sense prescriptions for policy action across various sectors Earlier this week, barely days after Narendra Modi led the BJP to a stunning re-election triumph and the new Ministry took charge, a trickle of official data confirmed the bad economic news that everyone but the government had known about for months. India rising? Maybe not.
Derek Scissors | National Interest Prime Minister Narendra Modi's dream of India’s future economic leadership will die if the government fails to directly address labor force participation in his second term.  Hezbollah Isn’t Broke. So Why Is Everyone Claiming Otherwise? Tony Badran — Tablet Magazine In this age of polarization, the unanimity of this take is all the more remarkable, as it is shared by the Trump administration, Middle Eastern analysts, as well as The New York Times, The Washington Post, and even the Israeli government.But this conventional wisdom is wrong. Hezbollah is nowhere close to being broke... Read More Trump’s Iran Crackdown Isn’t Enough to Stop Hezbollah Unless Washington targets the group more effectively, it can outlive the pressure on Tehran. Iran’s economy has had a turbulent decade. In 2016, Iran was on the rise economically, but since 2018, United States sanctions have sent the Middle Eastern nation in a downward spiral. The sanctions had previously been lifted under the 2015 nuclear deal between the two countries. Now, experts predict that Iran will face a shrinking economy, ballooning inflation, and a significant budget deficit. As Iran looks to the future, it’s relying on trade partners other than the US in hopes to get its economy back on track. Here are eight surprising facts about Iran’s economy. – Business Insider Assad Survives Thanks to Iranian Oil—and Egyptian Consent
Sanctions have stopped Tehran from selling its crude, but not from giving it to the Syrian dictator.
Taylor's Rule: Too High, Too Low - Where Should Interest Rates Go?
featuring John B. Taylor via Biz News Taylor’s Rule is an interest rate forecasting model invented by John Taylor in the early 90s. And according to Investopedia “it’s a proposed guideline for how central banks should alter interest rates in response to changes in economic conditions.” In South Africa, the Reserve Bank’s mandate is very topical at present, which in turn sets up a discussion around interest rates. SARB’s current mandate is tailored around a targeted inflation band of 3-6%, with the repo rate currently at 6.75%.  'Don't Exacerbate The Problems': Raghuram Rajan's Advice To Modi 2.0 On Economy
featuring Raghuram Rajan via Business Today Listing out his views on economic agendas for the new government, former RBI governor Raghuram Rajan has said the new dispensation needs to address the fiscal gap and revive agriculture, power and banking sectors. In his latest blog post, which was co-written with Abhijeet Banerjee, Rajan said both the Centre as well state governments should target to reduce fiscal deficit to FRBM (Fiscal Responsibility and Budget Management Act)-suggested 5 per cent by 2023. For this, there is a need to create better compliance and progressive taxation, he said. He also suggested that a Centre-state council modelled on the successful GST Council could be formed to ensure fiscal federalism. THE MULLAH'S ARE BUCKLING UNDER US LED SANCTIONS REGIME, IRANIAN DECEPTION AND US LED DETERRENCE5/23/2019  The imperative of deterrence We invite aggression if our enemies believe “America cannot do a damn thing”
 Mary Hirschfeld On Economics, Culture, And Aquinas And The Market
by Russell Roberts via EconTalk Author, economist, and theologian Mary Hirschfeld of Villanova University talks about her book, Aquinas and the Market, with EconTalk host Russ Roberts. Hirschfeld looks at the nature of our economic activity as buyers and sellers and whether our pursuit of economic growth and material well-being comes at a cost. She encourages a skeptical stance about the ability of more stuff to produce true happiness and/or satisfaction. The conversation includes a critique of economic theory and the aspect of human satisfaction outside the domain of economists.  America's Illusions of Growth Jeffrey Sachs warns that buoyant GDP and unemployment data are obscuring alarming indicators of actual wellbeing in the US. The Return of Fiscal Policy
Barry Eichengreen explains why deficit spending, not monetary policy, now holds the key to ensuring stable and equitable growth.  Iran Plans to Continue Its Oil Exports. Washington Has the Means to Shut Them Down. Saeed Ghasseminejad | Senior Iran and Financial Economics AdvisorMatthew Zweig | Senior Fellow China seen resuming oil imports from Iran
China is believed to have resumed importing oil from Iran despite an abrupt halt following the United States’ revocation of sanctions waivers, Bourse & Bazar reported today. The report said a company that tracks tankers had noted that a vessel believed to be heading for China is carrying 2 million barrels of Iranian crude oil. The tanker began its journey the same day that Foreign Minister Mohammad Javad Zarif arrived in Beijing for talks on “regional and international issues.” Beijing has long been Tehran’s largest oil customer. Read More  The story of stagnating wages was mostly wrong
Michael R. Strain | Bloomberg Opinion The argument that wages have been stagnant for decades except for those at the very top, frequently echoed by politicians, pundits, and even some economists, is based on flawed and misleading measures of wage growth.  Assessing the Use of Sanctions in Addressing National Security and Foreign Policy Challenges
Subcommittee on National Security, International Development and Monetary Policy Matthew Zweig | Senior Fellow  What Does the Fed Know that Nobody Else Knows? by Alex J. Pollock Central banks usually feel the urge to pretend to know more than they can, in order to inspire “confidence” in themselves. Read More » 
 Fed's 2 Percent Inflation Target Is 'Fine,' John Taylor Says with John B. Taylor via BloombergHoover Institution fellow John Taylor discusses the state of monetary policy. The Fiscal Roots Of Inflation
by John H. Cochrane via The National Bureau Of Economic Research Unexpected inflation devalues nominal government bonds. This change in value must correspond to a change in expected future surpluses, a change in their discount rates, or a contemporaneous change in nominal bond returns.   Cui bono? Bringing Thomistic thought to bear on modern economics
By Gerald J. Russello on Apr 25, 2019 08:16 pm Last January, the Vatican issued a “Bolletino” titled Oeconomicae et pecuniariae quaestiones, subtitled “Considerations for an ethical discernment regarding some aspects of the present economic-financial system.” Like many such Vatican documents on complicated social questions, the [...]  Tehran Exports Its Petrochemical Products Despite Sanctions
Saeed Ghasseminejad | Senior Iran and Financial Economics Advisor
The Federal Reserve Fight Editorial of The New York Sun | May 3, 2019
https://www.nysun.com/editorials/the-federal-reserve-fight/90670/ The defeat of Steve Moore's candidacy for a governorship of the Federal Reserve invites a strategic look at the fight over our central bank. This fight has, after all, been brewing a long time -- since, in our view, 1971, when President Nixon closed the gold window and ended the era of Bretton Woods, when the dollar was redeemable by foreign governments for a 35th of an ounce of gold.* Continue Reading |
AuthorAn authority on Civil-Military Relations; Southwest Asian Political Economy, and Pentagon Acquisition Reform . 
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