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Where Do Monetarists Think PCE Price Level Is Going To?

From an email from Tim Congdon, at the International Institute for Monetary Research (9/20): I suggest that a more plausible figure for end-year PCE annual inflation is between 5½% and 6%. (The consumer price index – up by 4.5% in the first seven months of […]

What’s To Blame?

Here’s a letter to the Wall Street Journal: Editor: Daniel Yergin and Matteo Fini blame today’s serious shortage of computer chips on pandemic lockdowns and on a drought in Taiwan, a fire at a Japanese semiconductor factory, and a winter storm Texas. (“For Auto Makers, […]

Thursday assorted links

1. Douglas Irwin on South Korean economic growth and its origins. 2. Interview with a Michelin restaurant inspector. 3. “How Does the World Bank Influence the Development Policy Priorities of Low-Income and Lower-Middle-Income Countries?” 4. Birds took advantage of the lockdown. 5. Sensible take on […]

Should Paid Leave Programs be Public or Private?

The Wall Street Journal had a very good and rather comprehensive Review and Outlook piece yesterday about what’s wrong with the Democrats’ push to create a federal paid leave program. The piece makes some important points, not least of which is that the absence in […]

Introduction to the Czech Edition of Open Borders

The Czech translation of Open Borders is now available for sale. And for those of you who don’t speak Czech, here’s the English version of my all-new Introduction to the Czech Edition. Special thanks to Martin Pánek, Director of the Liberální institut, for making this […]

Human Intolerance is Never Far Beneath the Surface

The following is from 142-144 of Amor Towles’s marvelous 2016 novel, A Gentleman in Moscow; the setting is one of Moscow’s finest hotels in 1924 (ellipses original): Having followed Andrey across the dining room, through the kitchen, and down a long, winding stair, the Count […]

StockWatch: Boeing & Ryanair’s Public Fallout!

Boeing is being called out by Ryanair, one of its major customers, for not selling its jets more cheaply. So far Boeing is standing fast and refusing to meet Ryanair’s price demand, despite the sales hit over the last two years. CEO Michael O’Leary called […]

Toward a Constitutional Theory of Property Rights

Prior to and since the death of Harold Demsetz, there have been a series of wonderful posts here on Econlib that have highlighted the importance of his work, in particular his article, “Toward a Theory of Property Rights” (1967). What makes it such a great […]

Saloons of Invention

I was taken aback by the bottom line of Mike Andrews new working paper Bar Talk: closing the saloons during prohibition reduced patenting by ~15%. At first, I thought that seemed like a very large decline but bear in mind that saloons were the coffeehouses […]

Some Covid Links

Let’s hope for success for this lawsuit in opposition to NYC strongman Bill de Blasio’s vaccine mandates. Speaking of vaccine mandates, J.D. Tuccille warns that “We’re on our way to having to ask for permission to go about our daily lives.” (Unsurprisingly, Covid-related restrictions for […]