Why You Should Get a Raise

Since the global economic crisis of 2008, many of the world’s advanced economies continue to struggle to recover. In many of these countries, growth since the crisis has been much slower than it was in the years prior. Indeed, when we look closely, we see that the 2004-2007 growth average is higher than the 2010-2013 average in just about all the major advanced economies, and that in some countries this difference is very large:

What’s holding back recovery? To understand this, we need to understand what kind of economic crisis we’re trying to recover from in the first place. Continue reading “Why You Should Get a Raise” →

Saudi Arabia under King Abdullah

King Abdullah’s reign in Saudi Arabia has come to an end with his death at age 90. Abdullah became king in 2005, but his rule truly began in 1996, when, as crown prince, he became King Fahd’s regent. Effectively, he was in power for nearly 20 years. It can often be difficult to judge the legacies of democratically elected leaders. Their short terms in office make it difficult to distinguish the effects of their administrations from those who precede and follow them. By contrast, autocratic rulers not only typically rule for far longer, but they also have much greater personal influence over the policies that emerge during their reigns. For these reasons, when a long-serving autocrat passes the torch, it is an interesting and useful exercise to have a look at how much better or worse off their country is now than it was when they rose to power. In March 2013, I ran a similar piece about Hugo Chavez’ 14-year reign. So let’s look at Abdullah’s legacy.

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Cuba: Why Obama Made the Right Call

US President Barack Obama has decided to normalize relations with Cuba. Since 1960, the United States has attempted to isolate, weaken, and ultimately destroy the Castro regime by cutting off diplomatic ties, imposing a trade embargo, and preventing American tourists from visiting Cuba. Given that the US has been following this strategy for 54 years but the Castros remain in power, it’s reasonable to question the efficacy of that policy. So let’s look into it.

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Hey, Whatever Happened to Libya?

As the United States once again intervenes militarily in a Middle Eastern civil war (this time in Syria and Iraq), I am reminded of the 2011 western intervention into the Libyan Civil War. Remember three years ago when the western states decided to help Libyan rebels overthrow Muammar Gaddafi’s government? We almost never hear anything about what’s going on in Libya these days. What happened there? 2011 was about a year before I started up this blog, but I remember being vitriolically opposed to the intervention there. How did it turn out? Let’s investigate.

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American Voters are Completely Out of Touch With Economic Experts

I recently ran across a remarkable survey of prominent US economists on the American Recovery and Reinvestment Act, the stimulus package Obama passed at the beginning of his presidency. The results are striking for two reasons–they show a clear consensus among economists that the stimulus was a success, and they completely contradict popular opinion.

Continue reading “American Voters are Completely Out of Touch With Economic Experts” →