200708.07
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Train Wreck

Desmond Lachman has an article at TCS Daily that warns of the consequences of the protectionism being contemplated by Congress: Seemingly forgetful of the disastrous consequences for global prosperity of the 1930 Smoot-Hawley Tariff Act, today Congress has before it no fewer than 60 proposals to do something about the Chinese trade surplus. More ominous…

200706.20
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AIM in the News

Our local paper, the Coral Gables News Gazette, has written an article about AIM and our upcoming 1-year anniversary of operations. Click the title of this blog post to see the article. We would like to thank the fine folks at Vine Communications for pitching us to the local editors. Without their help, our newsworthiness…

200706.15
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The Face of Global Warming

When a man who lived under communist rule calls environmentalists response to global warming a greater threat than communism, I think it might behoove us to heed his warning: As someone who lived under communism for most of his life, I feel obliged to say that I see the biggest threat to freedom, democracy, the…

200706.14
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Peak Oil Panic

The Independent carries an apologia for the peak oil crowd titled, “A World without Oil” which attempts to bring some legitimacy to the panic at all costs crowd. Scientists have criticised a major review of the world’s remaining oil reserves, warning that the end of oil is coming sooner than governments and oil companies are…

200705.16
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In Defense of Free Trade

The February 26th edition of the Washington Post carried an editorial calling for punitive tariffs on Chinese goods. On February 27th, the Chinese stock market fell 8.8% and other Asian markets followed suit. European markets also succumbed and then the US market had its worst one day loss since 9/11, dropping over 400 points on…

200704.30
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This is a Problem?

The WSJ has an article about a conundrum facing the Bank of Japan. The Japanese economy is expanding but deflation remains persistent (prices are falling again). Apparently this is viewed as a problem: Still, such weakness in prices would make it difficult for the Bank of Japan to raise interest rates. Raising interest rates too…

200704.26
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Abolish the Federal Reserve

As long time readers know, I have no love for the Federal Reserve. When you give a bank the monopoly on printing money, well, that’s what they will do. That the Federal Reserve’s official policy is to maintain an inflation rate says a lot about the purpose of the bank. Our government issues debt and…

200704.20
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Chutzpah

This story comes courtesy of Opinion Journal, the WSJ daily blog by James Taranto. Mark Mellman, writing in The Hill, opines that the Democrats have wrested control of the tax isssue from Republicans. As most of you know, I am a libertarian so I don’t have much use for either of the major parties, but…

200703.21
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The Debate Continues

Desmond Lachman’s latest response: Dear Mr. Calhoun, Thank you for your e-mail. You raise several interesting questions, which I will try to answer in turn and which you should feel free to post if you choose: Government Intervention: My idea is certainly not to have government intervention in currency markets in the normal sense of…

200703.21
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Lachman’s Response

A couple of days ago, I posted a response to an article by AEI Scholar Desmond Lachman. Mr. Lachman, who I’m sure is very busy with scholarly things at AEI, was kind enough to respond. Here is his initial response and my comments: Dear Mr. Calhoun, Thanks for your e-mail and for sharing with me…