Donald R. McClarey

They Probably Don’t Even Have a Starbucks!

  News that I missed, courtesy of The Babylon Bee:   RIVERDALE, NY—31-year-old Darlene Austin has always been an avid supporter of socialism, but she recently had an eye-opening experience. “At a vegan cafe, I met a guy from Venezuela,”

Read More »

Recipe for Prosperity

    Another fine, and timely, econ 101 video from the Center for Freedom and Prosperity.   Policies that foster economic freedom, in tandem with a lean government, tend to lead to economic prosperity.  Something to ponder on Tax Day.

Read More »

Francisnomics

  One of the many distressing aspects of the current pontificate is the strong attachment that Pope Francis has to economic nostrums that invariably end in the State largely controlling the economy for the “good of the poor”.  How such

Read More »

Time to Instruct the Pope!

Hattip to commenter Ernst Schreiber for the suggestion.  Pope Francis has admitted that he does not know much about economics.  Faithful Catholics have a duty to help the Pope learn more about this area he clearly likes to talk about

Read More »

In Other News, Water is Wet

One of the most beloved fairy tales in this country is that the Government, which seems unable to balance its own books, can by fiat, with no consequences to employment, tell employers that they must pay a minimum wage.  Economist

Read More »

Economists and Christmas Carols!

Hattip to Instapundit. Anything that helps drive a stake through the idiotic notion that spending money we don’t have is good for the economy gets an enthusiastic thumbs up from me.  This from the brilliant, albeit a little twisted, mind

Read More »

Will Money Make Everyone Virtuous?

One of the many divides among modern Catholics is between what we might call the “moralizers” and the “justice seekers”. “Moralizers” are those who emphasize the importance of teaching people moral laws and urging them to abide by them. “Justice

Read More »

Great Depression II

Al Lewis at MarketWatch uses the D word to describe the perpetual lousy economy we have been living through the past four years: There is nothing more depressing than hearing about a new recession when you haven’t fully recovered from

Read More »
Stacy Trasancos

Question: If they trust women, why don’t they trust mothers?

SHOCKER: Teens need their mothers. Mothers can help their daughters. Even in crisis. There’s an article forthcoming in the journal Economic Inquiry by Professors of Economics, Joseph Sabia and Daniel Rees, that shows parental notification or consent laws are associated with a 15 to 25

Read More »

Chart Of The Day: Whose Wages Are Stagnating?

I’d been fooling around with Census data a bit over the last week. Here’s an interesting chart using Census Table P-36. Full-Time, Year-Round All Workers by Median Income and Sex: 1955 to 2010 Median income for full-time working men first

Read More »

Do Greeks Work Harder Than Germans?

Matt Yglasias has a piece in Slate attempting to counter the “if the Euro is going to work, Greeks are going to have to learn to work hard like Germans” line of thinking. It’s true that Germans and Greeks work

Read More »

And It Begins

Newt Gingrich may not be my first choice this primary season, but I have a sinking feeling that left-wingers are going to help me get over whatever reservations I may have.  Newt is getting hammered for comments he made yesterday:

Read More »

The Home Mortgage Deduction

There’s some consternation in conservative (and other) circles about tax reform proposals that would eliminate the home mortgage interest deduction.  The deduction is eliminated in most flat tax proposals, though it is not eliminated in the plan Governor Perry laid

Read More »

Poverty and Family Type

The old saw is that there are lies, damned lies, and statistics, as if statistics were in some way a variety of lie. Of course, the issue is not so much that statistics are lies, as that statistics represent an

Read More »

Employment for All: A Response

Last week, Alex of Christian Economics wrote a piece arguing, on the basis of both catholic social teaching and modern monetary theory, for the government to act as an employer of last resort. In this post, I’d like to respond

Read More »

Employment for All: A Debate

Alex of Christian Economics is a thoughtful guy who adheres to some economic theories (specifically the Modern Money Theory of economics) that I don’t hold with. Thus marking out one of my rare areas of agreement with Paul Krugman. Alex

Read More »

Chart of the Day: Spending Spree

Via Greg Mankiw comes this stark chart from Tino Sanandaji of Super-Economy, it shows non-defense spending as a percentage of US GDP over the last 35 years. A few things to note:

Read More »

Explaining the Money Facts of Life to Liberals

I take off my hat to you Klavan on the Culture for making the effort, but it will take more than that to get through to people who believe that infinite wealth can be produced by government fiat.  Exhibit A

Read More »

A Foundation of Determinism

Paul Krugman recently did a Five Books interview with The Browser, talking about his five favorite books. The books are: Asimov’s Foundation series, Hume’s An Enquiry Concerning Human Understanding, two books by Lord Keynes, and a book of essays by

Read More »

Moral Sense and Unequal Exchange

Every week I make a point of finding the time to listen to the EconTalk podcast — a one hour interview on some economics related topic conducted by Prof. Russ Roberts of George Mason university. Roberts himself has economic and

Read More »

Increasing Inequality and Winner-Take-All Economics

One of the mildly worrying economic trends of the last thirty years has been the increasing gap between rich and poor in the US. Many policy analysts conclude that this is the clear result of not following whatever policies they

Read More »

Keynes vs. Hayek, Round Two

Russ Roberts and friends have come out with another Keynes vs. Hayek rap video: The production values on this are great, and I like the noir look they’ve got with, but I have to admit I slightly prefer their original:

Read More »

Do The Wealthy Pay Their Share?

Having linked last week to some discussion on whether the US is really becoming “Of the 1%, by the 1%, for the 1%”, I was struck by this chart, which I saw a link to this morning, over at Carpe

Read More »

Responding to Stiglitz on Inequality

There’s a Vanity Fair piece on income inequality by Nobel Price-winning economist Joseph Stiglitz, “Of the 1%, by the 1%, for the 1%”, which has been cited again and again in the commentariat lately, and it’s a frustrating piece because

Read More »

Inequality, Heritability and the American Dream

Ever since people finished identifying “the American Dream” — the idea that in the US in particular and the New World in general somehow allowed people to escape the hidebound social structures of the Old World and better themselves via

Read More »

Rewinding Taxes to the Good Old Days

For decades, progressives tended to accuse conservatives of wanting to bring back the ’50s, but in recent years the shoe is on the other foot, with some prominent progressives saying they yearn for the good old days when unions were

Read More »

Buying A Car To Save Money

Cars that get over 40 miles per gallon in fuel efficiency are, reportedly, becoming all the rage, with more models from American and foreign car makers being introduced at the latest Detroit Auto Show. So I got curious, having just

Read More »

The Super Secret, Mystical Recession Cure

For some reason, I found myself reading through Paul Krugman’s recent NY Times material. Perhaps it was a desire for a little mental vaunting, what with the direction the elections seem to be taking, and if so I should have

Read More »

What Is This Wicked Capitalism?

One of the difficulties that comes in discussing the many “isms” that populate the landscape of political discussion is that very often people use the same words without mean the same things, or indeed without having any clearly defined idea

Read More »