This article was originally published in the Economic Forces newsletter. Price theory is about supply and demand. Why is the price of good
In the Wall Street Journal, Philip Magness, Director of Research and Education at the American Institute for Economic Research (AIER), points out
Sales of light vehicles totaled 13.3 million at an annual rate in July, up from a 13.0 million pace in June. The
The Institute for Supply Management’s composite services index increased to 56.7 percent in July, rising 1.4 points from 55.3 percent in the
With the smoke from the recent Recession Definition War still wafting in the air, I want to suggest that America’s economy is
There are two ways to conduct monetary policy. One approach consists of giving monetary policymakers the discretion to decide their policy at
Reprinted from the James G. Martin Center for Academic Renewal A reporter who hasn’t dreamt of one day writing for the New York Times is
The Institute for Supply Management’s Manufacturing Purchasing Managers’ Index fell to 52.8 percent in July, off 0.2 points from 53.0 percent in
The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in
In my previous two columns I reviewed the basic economics of price ceilings and price floors. In this column, the third in
Reprinted from Inside Sources The U.S. Senate just announced legislation within Medicare Part D with the headline “lower prescription drug costs for beneficiaries
Advanced estimates suggest real output declined for a second straight quarter in 2022, prompting many to debate whether we are in a
The Biden Administration is turning to historical precedent in its recent attempt to redefine the meaning of the term “recession.” Unfortunately, that
The final July results from the University of Michigan Surveys of Consumers show overall consumer sentiment remained near record lows (see first
Reprinted from EconLib Prices are rising at the highest rates in 40 years. The Federal Reserve’s overly expansionary policy is the main culprit. Yet
