Would Free Trade Be OK If The U.S. Had A Trade Surplus?

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on July 26, 2017.) https://www.forbes.com/sites/nathanlewis/2017/07/26/would-free-trade-be-ok-if-the-u-s-had-a-trade-surplus/#4a5b8a9b5852   There is a lot of grumbling that free trade is eroding economic health in the U.S. There is some merit to these arguments; also, the U.S. economy hasn’t been very healthy for …

The Midas Paradox (2015), by Scott Sumner

In Full Archive by Nathan Lewis

We have spent a lot of time over the past two years looking into various aspects of the “Interwar Period,” 1914-1944, which includes the Great Depression. October 10, 2016: The Interwar Period (contains many links) October 6, 2016: Team Gold Needs To Get Over …

The “Gold Sterilization” of 1932 #3: The View From 2011

In Full Archive by Nathan Lewis

Today, we will continue our discussion of the “gold sterilization” of 1937. June 18, 2017: The “Gold Sterilization” of 1937 June 25, 2017: The “Gold Sterilization” of 1937 #2: Fumbling and Bumbling We will look at an influential 2011 paper by Douglas Irwin, available …

Gold Or Bitcoin? Gold AND Bitcoin.

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on June 30, 2017.) http://www.forbes.com/sites/nathanlewis/2017/06/30/gold-or-bitcoin-gold-and-bitcoin/   “Gold or Bitcoin?” seems to be an idea, a meme, that is rising to the surface now. People sense that the world’s banking systems are at risk, and are thinking about alternatives. …

The “Gold Sterilization” of 1937 #2: Fumbling and Bumbling

In Full Archive by Nathan Lewis

As part of our continuing investigations into the Interwar Period, we’ve been looking at a funny episode in 1937. June 18, 2017: The “Gold Sterilization” of 1937 October 2, 2017: The Interwar Period, 1914-1944 I think it has been productive to spend all this …

The “Gold Sterilization” of 1937

In Full Archive by Nathan Lewis

Today, we will start investigating the U.S. recession of 1937, and along with that, claims that the Federal Reserve caused it by some sort of misbehavior. As is our usual practice, we will begin with just looking at some general information about that time. …

Don’t Fear The Robots, Fear Low Savings And Investment

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on June 14, 2017.) https://www.forbes.com/sites/nathanlewis/2017/06/14/dont-fear-the-robots-fear-low-savings-and-investment/#12c4f1e32f79   Ever since the dawn of the Industrial Revolution, in the 1780s, mechanization has been destroying jobs. That is not only its aftereffect, but its primary purpose, also known as “labor-saving.” Over time, …

Thoughts on the Liberal Arts Program in Economics and History

In Full Archive by Nathan Lewis

Naturally, you have noticed that I am offering what amounts to an alternative to the typical four-year undergraduate education today, what I’ve called the “Liberal Arts Program in Economics and History.” I think it is a little shocking for most people to even conceive …

Introducing Gold: the Final Standard

In Full Archive by Nathan Lewis

Gold: the Final Standard (2017), my third book about monetary topics, is now available in both eBook and print formats. I thought I would say a few words about how it came about. It forms the third book of a sort of “gold trilogy,” …

The One Thing The Left And Right Agree On: Leave Me Alone!

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on May 30, 2017.) https://www.forbes.com/sites/nathanlewis/2017/05/30/the-one-thing-the-left-and-right-agree-on-leave-me-alone/#4ee865f27bdb   There isn’t much that the Left and Right agree upon these days, but there is one thing that they seem to share: an increasing trend toward “federalism,” which, oddly enough, means that …