Economist Milton Friedman would be 101 today. His passing several years ago was lamentable but many of his ideas — involving monetary policy and price theory, for instance — are immortalized in his many scholarly books, academic papers and tributes by fellow scholars who knew him best. Friedman was born the son of immigrants in Brooklyn, N.Y. He earned...
To say America’s middle class is threatened is a common refrain. But there is no malevolent force operating to shrink America’s middle class. America’s middle class is challenged by the momentum of history. Technology automates jobs at the same time as the capacity of foreign manufacturers continuously improves. At the same time, American taxpayers confront...
When solutions to the challenge to provide retirement security to American citizens in the 21st century are considered, they typically address either social security or public sector pensions, but rarely focus on both of these systems together. But when considered together, as systems that each have unique strengths and weaknesses that might be combined in...
The relationship between stagnant economic growth and high levels of total market debt should be clear to anyone trying to manage a household where their home mortgage payment consumes 50% or more of their entire household income. Similarly, the relationship between economic growth and the ability to borrow should be clear to anyone who has...