Washington, Wall Street and the “Monetary Sin of the West”
To speak partly American, partly Wall Street and partly Catholic: the current monetary system violates the first principle of American political economy, qualifies as what Pope John Paul II called a “structure of sin,” and acts as a machine that creates bad apples both in Washington and on Wall Street. Read More.
An American Theory of Public Choice
Despite its apparent attractions it is time to retire the neoclassical theory of public choice and re-adopt the Founders’ theory of American public choice. Read More.
President Obama will have succeeded, and any candidate of either party contending for the presidency in 2016 will succeed or fail, in precise proportion to these classic and successful principles of American public finance. Read More.
Principles of Economic Sanity Redux
President Obama and any 2016 presidential candidates will succeed or fail precisely in proportion to their adherence to these four principles of economic sanity. Read More.
A Long View of Longevity, Fertility, Education and Income
Evidence going back to at least AD 1 shows that longevity, fertility, education and income are interconnected. And this connection allows us to predict the demographic results of the alternatives presented in last Tuesday's U.S. presidential election. Read More.
Tocqueville’s Comparison of America and Russia, Updated
How has Tocqueville's 1835 prediction about Russia and the U.S. fared? And why is Russia's birth rate, after sinking as low as 1.2 children per couple, sharply improving, while America's birth rate, after remaining near the replacement rate of 2.1 children per couple for the past decade, sharply declining? Read More.
Practical Steps on Births, Benefits, Booms and Busts
Several practical policies could improve the Spanish and American birth rates, lower their unemployment rates, and render their real estate markets less vulnerable to boom-bust cycles. Read More.
Finn’s “Nine Libertarian Heresies” and Mueller’s First Lemma: Economists Complain Exactly Insofar as They Are Unable to Explain
Mark Twain remarked that "Wagner's music is better than it sounds." Similarly, Daniel K. Finn's "Nine Libertarian Heresies Tempting Neoconservative Catholics to Stray from Catholic Social Thought" is better than it reads–like a draft introduction to 'The Catholic Economist's Guide to How to Make Enemies and Fail to Influence People.' Read More.
Benefits or Babies: Will Social Benefits “Crowd Out” Children?
Without reforms of the same magnitude as Congressman Ryan proposes, there will be no way to prevent a sharp decline in the U.S. birth rate, and thus a decline in the relative size of the U.S. population and economy. Read More.
The Demographic Winter (How We Got to Where We Are)
By discussing "The Demographic Winter (How We Got to Where We Are)," we are asking, in effect, why so many nations are acting against human nature. Read More.
Redeeming Economics: How Federal Budgets Affect the American Family
Without reforms of the magnitude Congressman Ryan proposes, there will be no way to prevent a sharp decline in the U.S. birth rate, and thus a decline in the relative size of the U.S. population and economy. Read More.
Were John Locke and the Founders "Lockeans"—or Scholastics?
The ways in which James Madison and Alexander Hamilton developed the scholastic economics tradition handed on through the 'laic scholastic' John Locke can illuminate today's partisan debate about the Federal budget. Read More.
The Chaos Congress Caused by Ending and How It Will Restore the Gold Standard
Presented by Jeffrey Bell, on behalf of John D. Mueller, Lehrman Institute Fellow in Economics at the Ethics and Public Policy Center, to the Heritage Foundation “Conference on a Stable Dollar: Why We Need It and How to Achieve It” on October 6, 2011. I’m grateful to Ed Feulner for his invitation to take part in Read More.
Hamiltonian Advice for Chicken Littles
To ask “Is the S&P downgrade fair? Whose fault it is? What can be done about it?” is like posing those questions about a thermometer that reads 99 when the temperature in Washington, D.C., is actually 90 degrees in early August. The thermometer is inaccurate, possibly due to malfeasance on the part of the Read More.
Babies and Dollars: Implications for USA, Russia, and the World
For complete coverage of the 2011 Moscow Demographic Summit, visit the Demographic Research Institute (Moscow) homepage. A PDF of Mr. Mueller’s remarks is available at the link above. The accompanying powerpoint is available here. At the last two World Congresses of Families in Warsaw and Amsterdam, I presented a country-by-country model of fertility, which has since Read More.
Dollars and Sense
When the stock market dramatically and swiftly declined in September 2008, prompting Senator John McCain to suspend his presidential campaign and return to Washington, D.C., to discuss federal action to prevent a financial meltdown, it signaled that something was fundamentally wrong with the American economy. That jittery month did not just mark the twilight of Read More.
What the Smartest Guy in the Room Doesn’t Get
“I got along with him fine. But Ben Bernanke thinks he’s the smartest guy in the room, and wanted everyone to know it,” remarked an acquaintance who used to sit in policy meetings with him. I recalled the remark when I read that Bernanke would become the first Federal Reserve Chairman to hold press conferences Read More.
What If the Smartest Guy in the Room Doesn’t Get It?
“I got along with him fine. But Ben Bernanke thinks he’s the smartest guy in the room, and wanted everyone to know it,” remarked an acquaintance who used to sit in policy meetings with him. I was reminded of the remark when I read that Bernanke would become the first Federal Reserve Chairman to hold Read More.
Why the Next Successful President Will End the ‘Reserve Currency Curse’
Atlas Foundation Conference on “Consequences of Progressive Policy on Money and Investment” Dallas, TX, 1 April 2011 I’m grateful for Alex Chafuen’s invitation—I’ve long admired his work—to take part at the Atlas Foundation conference on the consequences of progressive policy on money and investment, on this panel on the principles of sound money. I’d like Read More.
"Reagan Democrats" Still Key to Economic Reform
In his memoirs, President Ronald Reagan (Feb. 6, 1911-June 5, 2004) recalled, “To get the spending and tax cuts we wanted through Congress, we needed the help of a substantial number of Democrats in the House as well as the votes of nearly all the Republicans in both houses of Congress.” Despite deep partisan divisions, Read More.