Mark Skousen
Three Success Stories: Proof That Supply-Side Economics Works
“Little else is required to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes and a tolerable administration of justice.” — Adam Smith Earlier this month, I had the pleasure of spending time with Finn Kydland, the 2004 Nobel laureate in Economics. I arranged to have him […]
Ben Bernanke’s Legacy (It Ain’t Pretty)
“The impact on the broader economy and financial markets of the problem in the subprime markets seems likely to be contained.” — Fed Chair Ben Bernanke on March 28, 2007 before Congress. The Nobel Prize in Economics has once again been tarnished by giving it to Ben Bernanke, the former chairman of the Federal Reserve […]
The Spirit of ‘47: The Challenge of Our Times in Two Charts
“We have indeed at the moment little cause for pride: as a profession we have made a mess of things.” — Friedrich Hayek, Nobel Prize acceptance speech (1974) My wife, Jo Ann, and I are here in Oslo, Norway, celebrating the 75th anniversary of the Mont Pelerin Society, an international group of economists and political […]
Is a Financial Hurricane Coming?
“Inflation is probably the most important single factor in that vicious circle where one kind of government action makes more and more government control necessary.” — Friedrich Hayek Wall Street veterans say September is the cruelest month, and it has certainly lived up to its reputation in 2022. The bear market can clearly be laid at […]
My Run-In With Paul Krugman, Again!
“The Inflation Reduction Act was our last chance to escape catastrophe.” — Paul Krugman at the World Knowledge Forum, in Seoul, Korea Paul Krugman got top billing, along with Ray Dalio and John Bolton, at the annual World Knowledge Forum, the Korean version of the World Economic Summit in Davos, Switzerland. He spoke twice to packed […]
Misery Index is Back! Guess Who Benefits?
“Things have gotten drastically better if we measure inflation only over the past three months.” — Paul Krugman, The New York Times, Tuesday, Sept. 13, 2022. Paul Krugman, the Nobel Prize economist and The New York Times columnist, has blown it again. As soon as the ink dried on his column “Misery Takes a Holiday: Surprise, Good News on Inflation” […]