To Fight Terrorists, Follow the Money Prosecuting money launderers is the best way to stamp out terrorism and corruption.
by John H. Cochrane via Grumpy Economist
I've been remiss about blogging lately while I finished two new papers, "The Fiscal Roots of Inflation," and "The Value of Government Debt." I'm posting here for those who might be interested, and I appreciate comments.
Animated chart of the day: Top 15 US states by GDP per capita, 1977–2018
Mark J. Perry | AEIdeas
Pro-growth ideas in the age of zero-sum economics
James Pethokoukis | AEIdeas
Animated chart of the day: US state job growth, 1990–2019
Mark J. Perry | AEIdeas
IMF releases final tranche of $12 billion loan to Egypt
The International Monetary Fund (IMF) on Wednesday approved the release of the final $2 billion in a $12 billion loan package to Egypt. “Egypt has successfully completed the three-year arrangement under the Extended Fund Facility and achieved its main objectives,” IMF Acting Managing Director David Lipton said in a statement. Lipton praised the Egyptian economy’s performance, attributing it to Cairo’s fiscal reforms. In addition to floating Egypt’s currency exchange rate, the unpopular austerity measures have included cuts in electricity and fuel subsidies. Read More
The Classicist: Thinking Strategically About Iran
interview with Victor Davis Hanson via The Classicist
Why restraint with Tehran may be the most effective position for national security hawks.
US sanctions Iraqis tied to Iran-backed militias
The Treasury Department on Thursday sanctioned two former provincial governors and two militia leaders in Iraq, citing human rights violations in Ninevah province, the home of a diverse Christian minority. The two militia leaders — Rayan al-Kildani and Waad Qado — both head divisions within Iraq’s Popular Mobilization Units (PMU). Kildani is leading a Christian militia within the PMU umbrella. The sanctions also target two former governors — Nawfal al-Akoub of Mosul and Ahmed al-Jubouri of Salahuddin province. Akoub fled Mosul last year after Baghdad sacked him over corruption charges following the capsizing of an overloaded ferry that killed some 100 people. Washington accuses Jubouri of working with “Iran-backed proxies that operate outside of state control.” Read More
The National Liberation Army in Colombia and Venezuela: Illicit finance challenges stemming from illegal mining
Andrés Martínez-Fernández | American Enterprise Institute
Decentralise & Invent New Growth Model: Raghuram Rajan
featuring Raghuram Rajan via The Time of India
Former RBI governor Raghuram Rajan and Congress’s overseas unit chief Sam Pitroda have criticized the BJP government for proposing to make a nation based on "single idea (of Hindutva) and have also called for India to move away from authoritarianism and centralized control to strengthen its democracy.
Raghuram Rajan: How Markets And The State Betray Communities
interview with Raghuram Rajan via The Wharton School of the University of Pennsylvania
Hoover Institution fellow Raghuram Rajan talks about his new book, as well as India, China, and a host of other topics.
Is politics getting to the Fed?
Robert J. Barro | Project Syndicate
In the early 1980s, the chairman of the US Federal Reserve, Paul Volcker, was able to choke off runaway inflation because he was able to implement steep interest-rate hikes. Today, the Fed is clearly under political pressure, and it is starting to show.
Make America’s deficits great again
Desmond Lachman | The Hill
An undisciplined budget policy at a time of economic strength limits the scope for fiscal policy support at a time of economic weakness.
Required Economic Reading
An important new book offers clear insights about austerity policy.
To Fight Terrorists, Follow the Money
By Emanuele Ottolenghi, Foundation for Defense of Democracies: “Prosecuting money launderers is the best way to stamp out terrorism and corruption."
An authority on Civil-Military Relations; Southwest Asian Political Economy, and Pentagon Acquisition Reform .
KEYNES VS. HAYEK RAP
KEYNES VS. HAYEK RAP ROUND 2