Monthly Archives: February 2008

Geopolitical Implications If The US $ Loses Its Role As Top International Currency

My post last week suggested that the euro may overtake the US dollar as premier international currency. One might ask why this would matter. Some of the reasons it matters are economic: we would lose the “exorbitant privilege” of being able … Continue reading

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The Euro Could Surpass The Dollar Within 10 Years

Question from The International Economy Survey of Experts: Ten years from now, which will likely be the next great global currency? My answer: Contrary to fevered popular speculation in the 1990s, the yen and the mark never had the potential … Continue reading

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Recent Republican President’s Aren’t Conservatives; They’re Illiberals

Floyd Norris notes in the New York Times (Feb. 9, 2008, p.B3),“George W. Bush is in line to be the first president since World II to preside over an economy in which federal government employment rose more rapidly than employment … Continue reading

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Effective Marginal Tax Rates On Lower-Income American Workers

Following up on my preceding post, I asked my colleague here at Harvard, Jeff Liebman, about the evidence on the effective marginal tax rate facing low-income workers. (Professor Liebman is an expert in this area, which I am not. Incidentally … Continue reading

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Fiscal Stimulus: What Do Ronald Reagan and Joseph Stalin Have In Common?

What do Milton Friedman, Ronald Reagan, and the current US Congress have in common with Joseph Stalin? No, it’s not that they are dead. Recently I appeared on one of those TV shows where a right-wing host interrupts the guest … Continue reading

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