Paul Ryan’s views of government seem more influenced by Milton Friedman than Ayn Rand
The future of Social Security and Medicare might be very different if Ryan is successful in getting Friedman’s ideas adopted.
Louis D. Johnston
Louis Johnston writes Macro, Micro, Minnesota for MinnPost, reporting on economic developments in the news and what those developments mean to Minnesota. He is Professor of Economics at College of Saint Benedict | Saint John’s University.
Why SuperValu prospered and how strengths of the company could survive
The company is fighting to stay alive amidst recent changes sweeping through retailing.
Eurozone faces many of the same political and economic pressures young U.S. did
Europe is only 60 years into the process, while we’ve had more than 230 years to sort out our monetary and fiscal issues — and it’s still a work in progress.
Why Americans want to spend more on health care
In economic terms, it comes down to “income elasticity.”
What’s good for Minnesota’s businesses isn’t always good for our economy
The debate over the sugar support program and repealing the medical device tax offer two good examples.
What if we dumped the Fed and returned to the gold standard?
The benefits of Ron Paul’s suggested changes are hard to imagine.
Ron Paul and the Fed: how we got to this point
His ideas for ending the Federal Reserve are the latest chapter in an age-old American argument dating to Hamilton and Jefferson.
Why the Minneapolis Fed’s Kocherlakota wants interest rates to rise
Narayana Kocherlakota thinks unemployment is stuck at 8 percent and inflation is on the horizon.
Layoffs at General Mills and lessons from Minnesota’s Fortune 500 companies
A look back at Minnesota’s Fortune 500 companies helps put the layoffs in a larger context.
Social benefits of college education often get shortchanged in ‘cost discussion’
It’s wrong to base a higher education finance system on the premise that social benefits are shrinking, compared with private benefits.
Why Rep. Steve Gottwalt’s view of the economy doesn’t make sense
His perspective misses the fact that the resources and income in an economy are not created by business alone.
From Tonka trucks to pacemakers: Free trade isn’t free
Why we don’t make Tonka trucks in Minnesota anymore illustrates free trade’s benefits and costs.
Target should acquire Best Buy
The move makes a lot of sense for both companies – and it would be a win-win for the Minnesota economy.
Who bears the biggest tax burden in Minnesota?
To answer that question, let’s look at the tax system from an economist’s perspective.
Like retailers of past, Best Buy will have to adapt to survive
Best Buy’s fall may seem abrupt, but the company faces the same question mass retailers faced the last 100 years
Best Buy’s travails part of the evolution of mass retailing
The company faces the same challenges mass retailers have confronted in the past.
Why we don’t need to worry about inflation
Faulty reasoning and inappropriate analogies lead many to mistakenly conclude inflation is on the way.
Are rising gas prices a sign of inflation?
Increases in the prices of individual products, such as gasoline, tell us nothing about inflation.
Jeffrey Sachs’ quest: Something new at the World Bank
I hope it encourages a long-needed public discussion of the World Bank’s role in economic growth and development.
Countries struggle to deal with global markets: Dollarization, eh?
More and more nations will confront the kinds of monetary problems now facing Iceland.
