Editorials: Clifford Thies

Et tu, Cardinal Dolan? "Less Eligibility" as justification for Obamacare

The media is giving mixed reports of Cardinal Dolan's interview on Meet the Press with David Gregory.

“Supplemental” Poverty Measure Shows Uneven Redistribution of Poverty by Government

The release of a supplemental poverty measure by the Census Bureau is being touted in the media as indicating the govern

Janet Yellen in Real Time

Did Janet Yellen, in real time, (1) see any problem in the housing bubble, (2) anticipate the bursting of the housing bubble; and,

Wasting Away in an Obamaville

With the collapse of the real estate bubble, many normally self-sufficient individuals and families found themselves not only out of work, but homeless.

Nobel Prize in Economics for asset-pricers

This year's prize goes to three economists who made contributions to the pricing of speculative assets such as stocks.

Labor Productivity vs. Compensation

In some but not all industries, we can measure output; e.g., tons of this, cubic yards of that. By relating output to hours of labor, we have a measure of labor productivity.

In Defense of Larry Summers

Larry Summers is on the short list being considered by the president

Federal Aid to Detroit: In Reality, More Than $2 Billion; But to What End?

A Bloomberg piece asserts that federal aid to Detroit amounts to only

The Revised Definition of GDP Concerning R&D and its Connection to Human Capital

Along with today's release of the preliminary estimate of second quarter GDP, we have a new definition of GDP involving the recognition of R&D as investment.

Did 'We' Decide to Build Railroads?

President Obama said, in his second inaugural address, “Together we determined that a modern economy requires railroads.” Actually, “we” determined that “a modern economy” requires canals, not rail