From Nuggets to Dross: The False Gleam of the Gold Standard

March 15, 1982

The gold standard is being actively promoted these days by a group of true believers who combine fervent believe in their positions with well-honed communications skills and a wild use of facts, analogies, and free-for-all conclusions.

Monetarists Exact Too High a Price for Theory That Doesn’t Work

March 14, 1982

“Monetarists Exact Too High a Price for Theory That Doesn’t Work” The Los Angeles Times (March 14, 1982).

Riding a Whirlwind

March 01, 1982

Policy research and advocacy is a process, an integral part of the total societal-political give-and-take, not a set of isolated events. In his daydreams, a policy researcher formulates a fine new idea, whispers it in the ear of the president, and sees him order his staff to "go" with it. In reality, viable policy ideas are not born full-grown; their development requires a process of research, consultation, formulation, and reformulation. Access to key policy makers is in itself a process, especially when significant matters are at stake, with one or more gatekeepers screening and many others asking to review, comment, and affect the "input." If ignored or circumvented, they will tend to oppose the policy ideas, as part of their attempt to preserve their opportunity to participate, their status, and their power.

Refugee Resettlement: The Infighting in Washington

November 01, 1981

In early 1979 the Carter administration found itself facing a refugee crisis as mounting political tensions throughout Southeast Asia increased the number of people seeking asylum in America. Refugees began arriving in the spring of 1975 after the collapse of noncommunist regimes in Laos, Vietnam, and Cambodia. The flow subsided somewhat until 1978, when renewed fighting generated a new wave of refugees. Thousands of ethnic Chinese fled Vietnam after the war erupted between Vietnam and China in 1979, and Vietnamese expansion also created a new flow of refugees from Laos and Cambodia into Thailand.

Stop That Wealth Drain

June 27, 1981

Washington is, at best, a two issue town. Nowadays its domestic eye is riveted to the drama of cutting the government's spending and taxes.

Tax Structure Should Favor Capital Goods Production Over Housing

February 15, 1981

Plans for an across-the-board income tax cut, aimed chiefly to benefit individuals, are competing with a rapidly rising chorus of calls for tax cuts aimed at stimulating productive capacity and investment.

Is Laffer Throwing Us a Curve?

February 08, 1981

Arthur Laffer should be brought before a court. Not hauled by his hair, but politely invited. Not before a regular jury, but before a jury of his peers -- what has been called a science court.

Beware: Economic Theories

January 31, 1981

The medicine the Reagan Administration is preparing for the body-economy consists of vast overdoses of two medications, two of which are incompatible to boot.

Reindustrialization or Quality of Life, America Must Choose

January 01, 1981

Years of excessive consumption and insufficient investement in out economic fundation have undermined America's productive capactiy.

Housing: An Early Reagan Reindustrialization Test

December 20, 1980

Plans for an across-the-board income tax cut, aimed chiefly to benefit individuals are competing with a rapidly rising chorus of calls for tax cuts aimed at stimulating productive capacity and investment.

Forget About Copying Japan Inc

December 07, 1980

NOBODY HAS YET recommended that Americans wear kimonos to work, spend their evenings with bar girls or eat rice with short sticks. Never mind that most Japanese don't do these things either. In the present mania to do things the way the Japanese do, such subtleties are quickly overlooked. An intellectual fashion is like a disco pants fad: Everybody gets into it, whether it fits or not.

Mass Psychology in the White House

November 01, 1980

Early this year at the White House, we conducted an experiment in mass psychology which surpassed anything ever tried with sophomores in a Harvard psychology lab. The subjects were the nation and, indirectly, the world's economy. Psychology played a key role in the successful outcome of the experiment. It was a rather distinct use of psychology, interpretative and based on social psychology rather than experimental in the laboratory sense of the term. The time was mid-February 1980. In the background, economic news was coming in hard and fast, each bit gloomier than the last.

Re-Industrialize, Revitalize, Or What?

October 25, 1980

If the hedgehogs and the hedges keep trading names, it's awfully difficult to provide an even reasonably coherent description of the countryside.

The Father of Reindustrialization Speaks

October 07, 1980

The need to shore up America's productive capacity is widely recognized these days. Some refer to it as revitalization; some as renewal; I coined the term reindustrialization.

Rebuilding Our Economic Foundations

August 25, 1980

Developmental economics is the study of the evolution of modern economies in preciously underdeveloped countries.