There is much public confusion about U.S. foreign aid, with many surveys showing the public believes it makes up a large proportion of federal outlays, often estimating it in the range of 30 percent when, in fact, it hovers around…
If we heed pope on consumerism, will economy tank? Not necessarily
It is highly ironic that Pope Francis’ “Apostolic Exhortation” on “the proclamation of the Gospel” came out in the same week that U.S. retailers kicked off their holiday campaign of consumption by starting even earlier than in previous years. Francis…
Don’t think that Black Friday shopping helps the economy
The role of shopping in the economy is easily misunderstood. That was clear in the patter of a TV reporter in a story about the pre-Black Friday sales that started on Thanksgiving Day. She asserted that such sales were good…
Fed firings raise questions about district bank’s role
A recent kerfluffle at the Minneapolis Fed is setting a new standard for the phrase “tempest in a teapot.” Two high-ranking and brilliant economists have been eased out, prompting much buzz in the economics blogosphere and commentary in such publications…