Hicks: Bourgeois dignity and the modern world
A most remarkable book, “Bourgeois Dignity: Why Economics Can’t Explain the Modern World,”, says all the explanations of the explosion of economic growth that occurred about 300 years ago are inadequate.
Economic Analysis
Articles
Hicks: Three bad ideas that just won’t disappear
Perhaps difficult economic times unleash the power of long-discredited ideas into general circulation, because three bad intellectual influences merit noting—one from the political right, one bipartisan folly and one from the left.
HICKS: Major sea change about the debt under way
A public fight has emerged among economists over the past few weeks, which likely spells major policy changes over the coming years.
HICKS: Still too early to call Iraq war success or failure
The 10th anniversary of the start of the second Iraq war is an opportunity to reflect upon the economics of the conflict.
HICKS: Recent economic data hold little good news
Most government statistics are preliminary releases, intended to be revised, so they provide a poor picture even to someone with clear context on their meaning.
HICKS: Economy will get worse before it gets better
The dramatic reintroduction of payroll taxes makes this year’s tax increase most injurious to the working poor and the lower-to-middle-income families.
HICKS: Economic evolution requires ongoing flexibility
I am often asked some version of the question, “Can we really survive becoming a service economy—won’t our loss of manufacturing jobs spell doom for our country?” The answer is, “No.”
HICKS: Stagnant pay for low-wage workers a problem
Hidden within the unserious politics of the minimum-wage debate lies an important discussion of why many workers have not seen their wages grow over the past generation. It simply takes some digging.
HICKS: Let’s try a $25 minimum wage to end poverty
As the president noted, no one should doubt that raising a family while earning minimum wage is a hard business; perhaps that is why almost nobody does it.
HICKS: Why stock prices rise in a shaky economy
The stock market highs over the past few months have many folks confused.
HICKS: You can stop wondering … the recession is here
Sometimes the worst part of the economic forecasting I do is the sinking feeling that my predictions will be right.
HICKS: Middle class, education and income inequality
The United States has always had something like a middle class, but for most of our history it has been a distinction not necessarily dependent on income or wealth.
HICKS: Leaders steer us toward government shutdown
We appear to be headed for a government shutdown as our leaders in Washington, D.C., find themselves at an impasse on the largest question facing the nation: how to cut spending.
HICKS: Why is the unemployment rate still so high?
The Great Recession wasn’t caused by a housing market collapse; it was more than that. Our economic unwinding required lots of failures.
HICKS: More budget failures despite missed cliff
It was clear the poison pill of the fiscal cliff required too much courage for our “leaders” in Washington. So, we will have what, at first blush, appears to be the worst possible compromise.
HICKS: Time to take stock of Mitch Daniels’ tenure
No matter your politics, you must admit that Mitch Daniels has been the most consequential Hoosier governor in more than a lifetime.
HICKS: Let’s all maximize utility over the holidays
The vintage and durability of classic Christmas songs carry an important economic lesson for our times.
HICKS: Economic forecasts entertaining, but usually wrong
This is the season of economic forecasts, for which there are many uses beyond their pure entertainment value.
HICKS: Perhaps it is time for Americans to pay our debts
Our republic can—and probably should—run a debt. As a great nation, we build and do things that endure, and these should be paid for, in part, by successive generations.
HICKS: Demagoguery and the truth about taxes
The popular media lately has been full of astonishing piffle with regard to taxation—so much so that a reasonably smart listener might suppose there was some magnificent disagreement among economists, like there is among lawyers in a court case. That is not the case.