Free Republic

It turns out that the man famous for concocting “the Phillips Curve” that a generation of economics students had to memorize didn’t believe in it himself. As Investopedia explains the rise and fall of the curve, “The theory states that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment. However, the original concept has been somewhat disproven empirically due to the occurrence of stagflation in the 1970s, when there were high levels of both inflation and unemployment.” Tim Harford, a columnist for the Financial Times, claims that the legacy of A. W. H....

PALO ALTO, Calif.--Milton Friedman was one of the very few intellectuals with both genius and common sense. He could express himself at the highest analytical levels to his fellow economists in academic publications and still write popular books such as "Capitalism and Freedom" and "Free to Choose" that could be understood by people who knew nothing about economics. Indeed, his television series, "Free to Choose," was readily understandable even by people who don’t read books. Milton Friedman may well have been the most important economist of the 20th century, even if John Maynard Keynes was the most famous. No small...

Despite the grim picture the mainstream media continue to paint about just about everything -- the insurgent-ridden reconstruction effort in Iraq, the looming Iran threat, the failed Dubai Ports deal, the twin deficits, the president's sagging poll numbers, the Jack Abrahamoff scandal, and on and on -- there's one thing they just can't taint: This U.S. economy remains very healthy. It's always amazing to listen to conventional demand-side economic pundits and mainstream reporters who try as hard as they can to minimize the excellent performance of the American economy ever since lower marginal tax-rate incentives were put into place almost...