In An Economy That Already Has Lost

The Arts Develop Skills And Habits Of Mind That Are Important For Workers In The New Economy Of Ideas.

The Only Sustainable Way To Increase Demand For Vacant Houses Is To Spur The Formation Of New Households. Admitting More Skilled Immigrants, Who Tend To Earn Enough To Buy Homes, Would Accomplish That While Paying Other Dividends To The U.s. Economy.

It Is Decidedly Not True That "nice Guys Finish Last," As That Highly Original American Baseball Philosopher, Leo Durocher, Was Alleged To Have Said.

Clearly, Sustained Low Inflation Implies Less Uncertainty About The Future, And Lower Risk Premiums Imply Higher Prices Of Stocks And Other Earning Assets. We Can See That In The Inverse Relationship Exhibited By Price/earnings Ratios And The Rate Of Inflation In The Past. But How Do We Know When Irrational Exuberance Has Unduly Escalated Asset Values, Which Then Become Subject To Unexpected And Prolonged Contractions As They Have In Japan Over The Past Decade?

Regulation Of Derivatives Transactions That Are Privately Negotiated By Professionals Is Unnecessary.