Banking's Past, Present, and Future
Writing in Thursday’s Wall Street Journal, John Taylor takes the Federal Reserve to task for its “interventionist” behavior. Taylor’s main complaint with the Fed’s conduct of monetary policy is that it is unstable and unpredictable (verging on the whimsical!). He argues that this stems in part from the Fed’s mandate to pursue low unemployment in … Read more
In a recently published op-ed piece in the Wall Street Journal, Stanford economists John Cogan and John Taylor argue that: “Temporary, targeted tax reductions and increases in government spending are not good economics. They have repeatedly failed to increase economic growth on a sustainable basis. What may come as a surprise is that such policies … 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 Wall Street Journal, John Taylor argues that “…the best way to understand the problems confronting the American economy is to go back to the basic principles upon which the country was founded—economic freedom and political freedom.” Taylor’s argument is based on assertion, rather than fact. For example, he is a little vague … Read more
John Taylor’s op-ed in today’s Wall Street Journal bashes the White House budget proposals of February 14 and April 13 and lauds the House Republican budget proposal of April 5. I understand–or am coming to understand–that when writing for a non-specialist audience, a certain amount of simplification is necessary: I’m guessing that the Journal has … Read more