For every Mark Zuckerberg in his dorm room, thousands of young men in hoodies are sitting on a sofa in their mom’s basement, bravely chasing avatars in World of Warcraft. We can help by reshaping Social Security, as I write in The Hill: A headline 4.5 percent unemployment rate shouts “prosperity,” but few believe it. That’s …
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How big do tax cuts have to be?

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Today’s Wall Street Journal features my oped on a 21st Century Federal Reserve Board.  The Fed map is so antiquated, it could’ve been mapped out on rawhide by Lewis & Clark!  Here’s the text: Janet Yellen and her Federal Reserve Board colleagues warn that they must nudge us out of the weird world of zero interest …
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In the Age of Uber and Snapchat, Antitrust Law Needs an Update

Consumer watchdog groups have denounced the pending AT&T and Time Warner merger, claiming that it would put too much power in the hands of too few. They needn’t worry. Powerful hands are losing their grip. As we explain in the LA Times, the gig economy, low financing rates and speedier technology have created a more …
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President Trump: Meet the Thinking Man’s Strongman

 Here’s a king with lessons for President Trump.  Read the fascinating story of Edward IV here and below. There are few more famous lines on history (or meteorology) than Richard III musing on “the winter of our discontent” — those sunny days brought forward by a “son of York.” The son’s name was Edward IV, …
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Black Separatist Meets White Vigilante at Midnight

It was midnight in Manhattan in the 1980s, the murder rate was three times what it is today, and I was wearing a sweater made from virgin wool… Here’s my true, coming-of-age story that appeared on Inauguration Day in the Observer — a newspaper owned by Jared Kushner:   Roy Innis, the militant black separatist …
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When Donald Trump threatens to slap massive tariffs on China, economic textbooks want to self-destruct like the smoky opening scene in a Mission Impossible movie. After all, free trade drives down prices while offering consumers more choices. In the 1960s a mom and dad would save for weeks to buy their child a back-to-school coat. …
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Trump Change and Psychology

The U.S. has changed. The stock market has jumped almost 6 percent since the November election. Consumer confidence has climbed, and J.K. Rowling is enjoying her first movie hit since the last Harry Potter romp in 2011. Donald Trump’s talk of tax cuts and deregulation has perked up “animal spirits,” to use Keynes’ term. There’s …
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How Trump Can Save Trillions

I was happy to see Treasury Secretary-designate Steve Mnuchin and advisor David Malpass discuss the U.S. Treasury’s mishandling of debt.  For years I’ve been urging the Treasury to issue long-term 50 or 100-year bonds to lock in today’s ridiculously low interest rates.  In the Wall Street Journal, Investor’s Business Daily, and The Price of Prosperity, I’ve argued that the …
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Can Trump Pull the Plug on Obamacare?

The battle to repeal Obamacare has begun. Financial markets are punishing shares of HCA and UHS. Those large healthcare companies expected to benefit from Hillary Clinton expanding Obamacare. Meanwhile, biotech shares have jumped because Hillary won’t be around to flog them or slap an arbitrary cap on their prices. Donald Trump and his advisers call …
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