Protests and Reason

by Chidem Kurdas In the past week mass protests erupted in different parts of the world. The reasons were diverse. In the Middle East, demonstrations spread across the region following the killing of American diplomats in Libya over an anti-Muslim film. In China, crowds attacked Japanese shops and offices, over the two countries’ competing claims on … Continue reading Protests and Reason

Wisconsin Policy Lab

by Chidem Kurdas Paul Ryan is said to be influenced by Milton Friedman, Friedrich von Hayek and Ayn Rand. One might add that as the representative for Wisconsin's first congressional district, he is from a state that has often been in the vanguard of policy thinking. That he came up with specific proposals for Medicare and … Continue reading Wisconsin Policy Lab

Student Debt Bubble Side Effect

by Chidem Kurdas Gore Vidal died a few days ago. He was a remarkably erudite author, as any reader of his marvelous historical novels – Burr and Lincoln are just a sample – notices.  He never went to college.  Born in 1925, he joined the army at age 17 and published his first novel before age … Continue reading Student Debt Bubble Side Effect

Regulation Czar’s Net Effect

by Chidem Kurdas Cass Sunstein, the White House regulatory affairs chief, is going back to academia.  It is not clear why he chose this particular time to return to Harvard Law School, leaving behind what looked like an experiment to implement the notions he advocated. Has he made a difference as federal overseer of rulemaking? The record … Continue reading Regulation Czar’s Net Effect

Who Should Audit the Fed?

by Chidem Kurdas A few days ago the House passed with a veto-proof majority the bill known as “audit the fed” or more plainly as H.R. 459, sponsored by Ron Paul.  If it became law, it would open the Federal Reserve’s policy deliberations and decisions, certain operations and dealings with foreign banks and governments to scrutiny … Continue reading Who Should Audit the Fed?

Uncertainty and the Keynesians

by Chidem Kurdas At the current economic juncture two camps offer diametrically opposed macro policy prescriptions. Economists on the Keynesian side such as Joseph Stiglitz and Paul Krugman advocate further monetary easing by the Federal Reserve and massive new federal deficit spending. The opposing camp includes Austrians and monetarists. Among its distinguished members is Allan Meltzer, who in … Continue reading Uncertainty and the Keynesians

Hundred Years of Bailouts

by Chidem Kurdas After all that’s been said and written about financial crises, it is rare to come across useful insights.  Financing Failure. A Century of Bailouts by Vern McKinley documents a major continuity with past policy making. He shows that policies intended to prop up failing companies are nothing new—the same basic pattern has recurred time … Continue reading Hundred Years of Bailouts

Conversations Before Independence Day

by Chidem Kurdas The July 3rd, 1776, letter John Adams wrote to his wife, Abigail, after voting for the declaration of independence, is justly famous for his prediction that the occasion will be celebrated “by succeeding Generations, …..solemnized with Pomp and Parade, with Shews, Games, Sports, Guns, Bells, Bonfires and Illuminations from one End of this … Continue reading Conversations Before Independence Day

Krugman Redistribution or Ponzi Scheme

by Chidem Kurdas A nice thing about Paul Krugman, he does not mince his words. Thus his new book, End This Depression Now!, repeats as boldly as possible the central point he’s repeatedly made in his New York Times columns and blogs for years. Namely, governments have to spend a lot more. They have to … Continue reading Krugman Redistribution or Ponzi Scheme

Libraries Linking Past to Future

by Chidem Kurdas A trustee of the New York Public Library, Robert Darnton, defends in the New York Review of Books the controversial plan to revamp the library’s Fifth Avenue building.  The issue goes beyond one building – however iconic – and one institution. Any book lover will sympathize with the plight of libraries.  Despite the … Continue reading Libraries Linking Past to Future