Economy

How to Forecast the Economy

Knowing that I am an economist, friends and acquaintances frequently ask me, “What is going to happen with the economy?” If I say with great assurance, “Inflation will rise 0.3 percent, unemployment will fall 0.6 percent, and economic growth will increase by 3.2 percent,” they will walk away happy, believing they know something others do not. Or, I can be Read More ›

21st-Century War Economics

“The Republicans don’t have a clue how bad the economy is,” a Democratic congressional aide told us one late October night, savoring the vision of a gavel in Dick Gephardt’s hand. Then, slowly, he broke into a wide smile, like a happy hijacker dreaming of seventy succulent virgin interns awaiting him in paradise. Chiefly in the business of appraising enterprise Read More ›