Banking's Past, Present, and Future
Writing nearly 40 years ago, historian Ernest R. May warned of the dangers of misusing history for policy purposes. May was primarily concerned that policy makers drew the wrong lessons from the past. In their opinion piece in yesterday’s Wall Street Journal, Glenn Hubbard, dean of Columbia Business School and an advisor to Mitt Romney, … Read more
Writing in today’s Wall Street Journal, WSJ op-ed board member Stephen Moore offers a variety of dubious–and at least one outrageous–opinion on the economy and economic policy. (1) The economy would be in better shape today in the absence of the economic stimulus. No, it wouldn’t. Even fellow WSJ contributor Ed Lazear believes that the … Read more
Writing in today’s Financial Times, Glenn Hubbard argues–correctly–that the debate over the debt ceiling in Washington is misplaced. Rather than focus on the debt ceiling, he suggests that Congress and the Administration ought to consider the deficit. Or, as he puts it: “My wife and I don’t vote on whether we will pay our bills. … Read more