Who Needs the Fed

Author: John Tamny
Publisher: Encounter Books
ISBN: 1594038325
Format: PDF, ePub
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The Federal Reserve is one of the most disliked entities in the United States at present, right alongside the IRS. Americans despise the Fed, but they’re also generally a bit confused as to why they distrust our central bank. Their animus is reasonable, though, because the Fed’s most famous function—targeting the Fed funds rate—is totally backwards. John Tamny explains this backwardness in terms of a Taylor Swift concert followed by a ride home with Uber. In modern times, he points out, the notion of credit has been perverted, so that most people believe it’s money and that the supply of it can therefore be increased. This false notion has aggrandized the Fed with power that it can’t possibly use wisely. The contrast between the grinding poverty of Baltimore and the abundance of Silicon Valley helps illustrate the problem, along with stories about Donald Trump, Robert Downey Jr., Jim Harbaugh (the Michigan football coach), and robots. Who Needs the Fed? makes a sober case against the Federal Reserve by explaining what credit really is, and why the Fed’s existence is inimical to its creation. Readers will come away entertained, much more knowledgeable, and prepared to argue that the Fed is merely superfluous on its best days but perilous on its worst.

Popular Economics

Author: John Tamny
Publisher: Simon and Schuster
ISBN: 1621573923
Format: PDF, Docs
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Forbes editor John Tamny uses entertaining stories from sports, movies, popular culture, and famous businesses to demonstrate the basic principles of economics. The Rolling Stones, the Dallas Cowboys, and Paris Hilton become examples of good and bad tax policy. The Godfather, Gone With the Wind, and The Sopranos reveal the downside of antitrust regulation, while the Michigan Wolverines’ 2007 loss to Appalachian State explains why regulations often fail to achieve their intended purpose. NBA star LeBron James’ exploits on the basketball court illustrate free trade and comparative advantage, while the cooking of chicken wings makes the case for a stable dollar. Popular Economics is an everyman’s guide to how money really works—a lesson politicians try (and fail) to grasp every day.

Even Buffett Isn t Perfect

Author: Vahan Janjigian
Publisher: Penguin
ISBN: 1440631476
Format: PDF, Mobi
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A contrarian look at how Warren Buffett thinks about investing and related issues Warren Buffett is the most successful and revered investor of all time. His ability to consistently find undervalued companies has made him one of the world’s richest men. Despite many previous books about him, it’s rare to find an objective assessment—one that praises him when appropriate, but also recognizes that even Buffett makes mistakes. For instance, is he right to call for higher taxes and an end to earnings guidance? Should Buffett fans copy his avoidance of technology stocks? In this penetrating look at how Buffett thinks, Vahan Janjigian shows readers how to learn from the master’s best moves while avoiding strategies that don’t apply to small investors. And he explains Buffett’s favorite valuation methodology, the discounted cash flow model, and how it can significantly reduce the odds of overpaying for a stock.

Why Progressive Institutions are Unsustainable

Author: Richard Epstein
Publisher: Encounter Books
ISBN: 1594036276
Format: PDF, ePub, Docs
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The painful performance of the American economy in the past decade is not a function of bad luck. It is the product of flawed institutional design. Right now we are reaping the harvest of efforts to reinvigorate the progressive programs of the New Deal that stress high progressive taxes, large transfer payments, strong labor laws, and major barriers to free trade. This combination of public finance and market regulation has proved a potent force for disaster. High marginal tax rates expose the political system to strong factional strife that stifles initiative, adds uncertainty and reduces overall revenues. To these multiple ailments, Epstein argues that the best recipe is a return to the flat tax of the classical liberal tradition. The government has committed itself to substituting state mandates for voluntary arrangements in labor and real estate markets, disabling both by retarding job formation and roiling real estate markets. To these multiple ailments, Epstein argues that the best recipe is a reinvigoration of free markets that do not upset voluntary arrangements on the supposed grounds that they are unfair, one-sided or exploitive. Just change these two levers, and we can find an effective classical liberal antidote to excesses of the modern progressive age.

The End of Work

Author: John Tamny
Publisher: Simon and Schuster
ISBN: 162157847X
Format: PDF, Kindle
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From the author of Popular Economics comes a surpringly sunny projection of America's future job market. Forget the doomsday predictions of sour-faced nostalgists who say automization and globalization will take away your dream job. The job market is only going to get better and better, according to economist John Tamny, who argues in The End of Work that the greatest gift of prosperity, beyond freedom from painful want, is the existence of work that is interesting.

Fed Up

Author: Danielle DiMartino Booth
Publisher: Penguin
ISBN: 0735211655
Format: PDF, Mobi
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In the early 2000s, a Wall Street escapee writing a financial column for the Dallas Morning News, Booth attracted attention for her criticism of the Fed's low interest rate policies and her warnings about the housing market. Nobody was more surprised when the head of the Dallas Federal Reserve offered her a job as a financial analyst. Figuring she could have more of an impact on Fed policies from inside, she also observed how the Fed abdicated its responsibility to the people both before and after the financial crisis and how nobody within the Fed seems to have learned from the experience.

A Concise Guide to Macroeconomics

Author: David A. Moss
Publisher: Harvard Business Press
ISBN: 1625271964
Format: PDF
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Geared toward executives and managers, a revised guide explains important concepts in macroeconomics using detailed examples from history and helps break down how the economy really works and what impact it has on the business world. 12,500 first printing.

Invisible Wealth

Author: Arnold Kling
Publisher: Encounter Books
ISBN: 1594035423
Format: PDF, Mobi
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The discipline of economics is not what it used to be. Over the last few decades, economists have begun a revolutionary reorientation in how we look at the world, and this has major implications for politics, policy, and our everyday lives. For years, conventional economists told us an incomplete story that leaned on the comfortable precision of mathematical abstraction and ignored the complexity of the real world with all of its uncertainties, unknowns, and ongoing evolution. What economists left out of the story were the positive forces of creativity, innovation, and advancing technology that propel economies forward. Economists did not describe the dynamic process that leads to new pharmaceuticals, cell phones, Web-based information services—forces that fundamentally alter how we live our daily lives. Economists also left out the negative forces that can hold economies back: bad governance, counterproductive social practices, and patterns of taking wealth instead of creating it. They took for granted secure property rights, honest public servants, and the willingness of individuals to experiment and adapt to novelty. From Poverty to Prosperity is not Tipping Point or Freakonomics. Those books offer a smorgasbord of fascinating findings in economics and sociology, but the findings are only loosely related. From Poverty to Prosperity on the other hand, tells a big picture story about the huge differences in the standard of living across time and across borders. It is a story that draws on research from the world’s most important economists and eschews the conventional wisdom for a new, more inclusive, vision of the world and how it works.

More Money Than God

Author: Sebastian Mallaby
Publisher: A&C Black
ISBN: 1408809753
Format: PDF, ePub, Docs
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The first book of its kind: a fascinating and entertaining examination of hedge funds today Shortlisted for the Financial Times/Goldman Sachs Business Book of the Year Award The New York Times bestseller

The Terrible 10

Author: Burton A. Abrams
Publisher: Independent Inst
ISBN: 9781598131413
Format: PDF, ePub, Mobi
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The U.S. economy made impressive gains in the 20th century, but this progress makes it easy to forget a harsh reality: Americans were the victims of disastrous government policies that cost trillions of dollars in wasted resources, created mass unemployment, and kept millions of people in poverty who otherwise would have participated in the nation’s growing prosperity. A complete dissection of the 10 most egregious economic blunders of the past century, this work provides the key lessons to help in avoiding such policy mistakes in the future. The Terrible 10 notes that, unlike the private sector, when the governance of the federal government fails, the role and scope of government is usually increased and that politicians from both parties tend to favor short-run benefits for friends while imposing costs on current and later generations. With issues and blame divided equally among Democrats and Republicans, this work stands as a highly readable history of how government economic blunders affect everyone.