Economists long have argued about whether it’s better to have fixed or floating exchange rates. When the world no longer was on the gold standard with its inherently fixed exchange values, but still on the post-World War II Bretton Woods…
Barbados illustrates successful economic transition
Small countries and large countries face essentially the same economic challenges. What varies is their scale and proportion. Obviously, the economy of our country, with a population of 314 million living spread over 3.8 million square miles is larger and…
Data on federal government show sky isn’t falling
Some conservative commentators are like Uncle Theodore, a character in Evelyn Waugh’s comic novel, “Scoop,” who sings “change and decay in all around I see,” as he looks out his window every morning. They are so sure that “fast falls…
Statistics can be truthful but entirely misleading
Many people who found that their college statistics course was a burden to be endured might remember “How to Lie With Statistics” by journalist Darrell Huff. Often assigned as a supplemental text, this classic little book was the only intelligible…