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The Passing of Esteemed Economist Walter Williams
“Today, now more than ever, it is men like Walter Williams who are sorely needed to protect the ideas of freedom and prosperity. His work and efforts have educated countless people from the latest generation of economic thinkers to the average citizen who are now better equipped to understand the world around them. Perhaps it was his intention that through his tireless efforts he will have inspired countless more to pick up where he left off. If that was the case, I think he would be pleased to know he has succeeded.” ~ Ethan Yang
December 3, 2020
November ISM Services Index Still Suggests Expansion
“The services sector expanded again in November, but renewed lockdowns and restrictions remain a threat to future growth.” – Robert Hughes
Initial Claims for Unemployment Benefits Fall After Two Weekly Increases
“Initial claims for unemployment benefits fell in the latest week but renewed restrictions on businesses and consumers may start to push claims up again in coming weeks and months.” – Robert Hughes
Twelve Principles of International Trade: Part 1
“Although it’s possible to imagine bizarre scenarios in which a country’s rising trade deficits might be evidence of economic decline, none of these scenarios is realistic in the case of the United States. American trade deficits are evidence of American economic health, at least relative to many other countries, rather than of economic hardship.” ~ Donald J. Boudreaux
Dr. Friedman Goes to South Africa
“Milton Friedman in South Africa is a fascinating product of one of Friedman’s ventures during a controversial time. It is worth reading for anyone interested in understanding Friedman specifically or what Andrei Shleifer called ‘The Age of Milton Friedman’ more generally.” ~ Art Carden
The Hype Surrounding Environmental, Social, and Governance Investing
“The shares of ESG companies will get wicked expensive as more and more money piles into them. At that point, with the expectation of low returns on ESG and high ones on ‘wicked’ stocks, virtue investors and ESG fund managers will have to eat palpably lower returns or creatively reclassify ‘wicked’ companies to get higher performing stocks into their portfolios, i.e., destroy the meaningful differentiation between ESG and ‘wicked’ companies once again.” ~ Robert E. Wright
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