The appliance version of ‘cash for clunkers’ came and went in Minnesota within about 24 hours last week. Much of the news coverage was negative, focusing on administrative glitches and disappointed rebate-seekers who were unable to get through overloaded switchboards…
Fed needs to rethink extending low interest rates
I have not been to a revival meeting for decades, but once in a while I feel moved to say, “Amen!” That happened as I read the news recently. An article reported that Thomas Hoenig, president of the Federal Reserve…
U.S. bailout actions speak far louder than words
Not every Nobel-winning idea applies to daily life, but Ed Prescott’s work on ‘time consistency’ and the need for credibility in economic policies explains both why I may buy a Toyota when my Ford pickup wears out and why Goldman…
Boosting liquor taxes a viable budget solution
Here’s a recommendation for state legislators, grounded in years of research: Raise taxes on alcohol. The advice holds whether your state faces big budget deficits, as does Minnesota, or not. While the most recent study was conducted by a University…