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Blog Post - views-on-the-economy-and-the-world

The Historical Puzzle of US Economic Performance under Democrats vs. Republicans

| Mar. 28, 2024

We have heard much about the puzzle that US economic performance under President Joe Biden has been much stronger than voters perceive it to be.  But the current episode is just one instance of a bigger historical puzzle:  the US economy has since World War II consistently done better under Democratic presidents than under Republican presidents.  This fact is even less widely known, including among Democratic voters, than the truth about Biden’s term.  Indeed, some poll results suggest that more Americans believe the reverse, that Republican presidents are better stewards of the economy than Democrats.

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Blog Post - views-on-the-economy-and-the-world

Six Explanations for Misperceptions Regarding the Strong Economy

| Feb. 25, 2024

By now, quite a variety of explanations have been offered for the puzzle that the unusually good state of the US economy has not been reflected in public opinion surveys, and especially not in polls regarding President Joe Biden’s bid for re-election in November.  At least six hypotheses have been put forward regarding the performance-perception gap.

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Blog Post - views-on-the-economy-and-the-world

Helping Ukraine is a National Security No-brainer

| Jan. 28, 2024

Much is difficult to understand about what has happened to one of our two political parties.   Among other things, I don’t understand why some Republican congresspeople oppose an extension of US support for the government of Ukraine in its fight against the Russian invasion, and why others who may be in favor of continuing support give it so low priority as to allow their colleagues to block it, by holding it hostage to unrelated Mexican border concerns.

Weighing costs and benefits, backing Ukraine is one of the most sensible US foreign affairs policy priorities in a long time. As Ukrainian President Volodomyr Zelensky said earlier this month, “Giving us money or giving us weapons, you support yourself.”

Analysis & Opinions - Project Syndicate

Why Supporting Ukraine Enhances US National Security

| Jan. 25, 2024

While the United States has valid reasons to avoid a direct confrontation with Russia, supporting Ukraine’s war effort should be a top foreign-policy priority. Aiding Ukraine costs a fraction of what the Iraq War cost, does not entail the potential loss of US soldiers, and advances America's interest in deterring wars of aggression.

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Blog Post - views-on-the-economy-and-the-world

Fix Air Traffic Control!

| Dec. 17, 2023

Air travel is soaring, as a long-term trend, especially in the growing economy.  It is also soaring seasonally: The few days after Christmas are expected to be especially intense.  Many passengers will experience maddening flight delays this holiday season, especially in the US. A few might be exposed to scary airport near-misses.  It is reasonable to hope that the excellent US safety record — no fatal crashes since 2009 — will be extended.  But close calls have increased during the post-pandemic return to commercial air travel, reaching about 300 in the most recent year, 27 of them serious.

Analysis & Opinions - Project Syndicate

How to Fix America’s Broken Air-Traffic Control System

| Dec. 14, 2023

Understaffed and underfunded, the United States’ air-traffic control system is close to its breaking point. The main obstacle to reform is the wealth and influence of private-jet owners, a group that has its own successful lobbying operation focused on retaining access to airport slots and ensuring that fees remain low.

Eleanor Roosevelt holding a poster of the Universal Declaration of Human Rights

FDR Presidential Library and Museum/Flickr

Analysis & Opinions - Carr Center for Human Rights Policy, Harvard Kennedy School

The Future of Human Rights

In honor of the 75th anniversary of the Universal Declaration of Human Rights, Belfer Center experts shared their perspectives on the future of the international human rights movement as part of the Carr Center's publication, Making a Movement: The History and Future of Human Rights

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Blog Post - views-on-the-economy-and-the-world

Does the Fed Deserve Credit for the Disinflation?

| Nov. 19, 2023

The Bureau of Labor Statistics on November 14, remarkably, announced that the US CPI had been unchanged in October (whether seasonally adjusted or not).  That is, the level of the CPI was unchanged, not the inflation rate, which was zero.  Of course, single-month numbers are too volatile to draw much of a conclusion.  Not every month will see the price of gasoline plunge by 5.0 %, as it did from September to October.

More informatively, the headline CPI inflation rate over the last 12 months was 3.2 %, far down from 6.5 % in 2022.  At the risk of tempting fate, one might say that the inflation battle is being won.