4 Items

Blog Post - Views on the Economy and the World

Fiscal Education for the G-7

| May 26, 2016
As the G-7 Leaders gather in Ise-Shima, Japan, on May 26-27, the still fragile global economy is on their minds.  They would like a road map to address stagnant growth. Their approach should be to talk less about currency wars and more about fiscal policy.Fiscal policy vs. monetary policyUnder the conditions that have prevailed in most major countries over the last ten years, we have reason to think that fiscal policy is a more powerful tool for affecting the level of economic activity, as compared to monetary policy.

Blog Post - Views on the Economy and the World

Food Security: Export Controls are Not the Cure for Grain Price Volatility, But the Cause

| Aug. 23, 2010
         My last blog post listed some policies and institutions with which various small countries around the world have had success — innovations that might be worthy of emulation by others.  Of course there are plenty of other examples of policies and institutions that have been tried and that are to be avoided.    The area of agricultural policy is rife with them.   Many start with a confused invoking of the need for “food security.”           The recent run-up in wheat prices is a good example.

Blog Post - Views on the Economy and the World

Support the Free Trade Agreement with Colombia!

| Apr. 24, 2008
Nicholas Kristof’s column in the New York Times today, “Better Roses than Cocaine,” says it all.   There is no good reason for the US Congress to continue to hold up the free trade agreement that the Administration has negotiated with Colombia.    Free trade with Colombia can’t have anything to do with loss of US jobs:   Colombia’s exports already enter the US duty-free.   Rather, the Free Trade Agreement would reduce remaining Colombian barriers to imports from the US.