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By the start of 1948, there could no longer be any doubt: the Great Depression wasn't coming back. Instead of collapsing at war's end, as many feared it would, combined government and private

In a recent Bloomberg column, former New York Fed President Bill Dudley echoes a conventional Fed narrative, contrasting Fed interest rate cycles under two supposedly distinct Chairmen. “Powell will need to find a way

Recently, an investment advisor and Bitcoin proponent tweeted the claim that “[f]or most of human history” the “[s]eparation of money and state was the norm, even if the state stamped their ruler's face

Senator Rob Portman (R-OH), the ranking member of the Senate Homeland Security and Governmental Affairs Committee, released a new minority staff report on July 26 contending that, for more than a decade, China

In assessing the possibility that a severe downturn occurred at the end of WWII, I took issue with conventional wartime and postwar output statistics, while taking the period's unemployment statistics at face value.

It was supposed to be a debacle. As the Second World War drew to a close, the nation's leading economists feared that, once the armed services demobilized, at least 8 million men and women,

Thanks to the Roosevelt Recession, in the spring of 1938 the New Deal's "Keynesians" finally found themselves in the saddle, displacing the planners, reformers, and trust-busters whose legislative efforts had already run out

Today, inflation has reached a 40-year high, in response to fiscal profligacy and accommodative monetary policy.  Direct cash payments to individuals and businesses in 2020 and 2021, which totaled more than $5 trillion,