Jun 22 2012
It is a very well known “fact”, more like an article of faith, that small firms account for the bulk of U.S. job formation. This belief has been highly instrumental in influencing economic policies towards business at all levels of government. If my memory is accurate, it was David Birch of MIT who first called [...]
Jun 11 2012
I really like the “Mythbusters” TV show, perhaps because the 13-year-old still lurking inside me loves seeing watermelons explode in the interest of science. Anyway, here are several of my favorite urban economic legends, some of which contain a grain of truth. ANY CHARACTER HERE The Social Security Annual COLA Excludes Food and Energy Completely [...]
Jan 26 2012
I haven’t the slightest idea what will happen if Ben Bernanke sees his shadow on February 2. However, the Federal Reserve Chairman did shed some additional light on the future of monetary policy on January 25. At their two-day meeting, the Federal Open Market Committee (FOMC) decided to leave the fed funds rate at [...]