“You cannot move something very far by pushing on a string,” I’ve heard myself saying again and again in the classroom trying to explain the Federal Reserve’s attempts to support the lagging economy. The Fed’s decision on Tuesday to increase…
In name of war, Congress touts questionable plans
“The hogs were really feeding.” That’s how Reagan Administration Budget Director David Stockman described congressional pandering to special interests when he drafted the Great Communicator’s tax cut bill nearly 20 years ago. Stockman, a true believer in supply-side economics, wanted…
Security spending can slow productivity growth
People are concerned that the U.S. economy, visibly slowing before September 11, will fall deeper into recession because of the economic shocks from that day’s events. Such fears are justified but probably overblown. The greater danger is that business will…
Cipro popularity becomes disadvantage for Bayer
“I’m just trusting in God and Cipro,” a Washington, D.C., postal worker said recently about the anthrax scare and the antibiotic most frequently named in connection with it. His sentiments demonstrate the power that brand identification can have. The more…