Monday update.

In the Cato Journal, Jude Shelton calls for a new global institution to promote currency stability.

On RCM, Louis Woodhill critiques CBO's Keynesian economic model.

At Commentary, Jennifer Rubin advocates revival of the GOP’s pro-growth wing.

But modern conservatism’s success, both in policy and electorally, did not come from being the green-eye-shade party. It stemmed from an enthusiasm and celebration of free markets and from policies that sought to unleash the potential of individuals, investors, and employers. And it was Reagan whose embrace of supply-side economics, free trade, and modest regulation unleashed an economic boom — and launched a conservative political vision that was inclusive and successful.

At Asia Times, David Goldman supports an export-led recovery.

In Forbes, John Tamny sees high government pay weakening the private sector.

At Business Insider, Gregory White explains that debt-to-revenue is more important than debt-to-GDP.

In The WSJ, Harvard's Robert Barro argues unemployment benefits contribute to high unemployment.

U.S. Rep. Paul Ryan (WI) focuses on fiscal deficits in assessing the weak economy.

Keynesian Robert Samuelson diagnoses the demand-side of the economic malaise.

Bloomberg’s Caroline Baum defends Milton Friedman's monetarism.

The WSJ reports on Japan's effort to weaken its currency:

AEI’s Kevin Hassett says Gov. Chris Christie (NJ) is popular because he has cut spending and refused to raise taxes.

Regarding the

10-Year Treasury rate

chart from yesterday's NYT, a longer-term chart makes clear today's rates are close to their pre-Great Inflation level. Also note the lag: rates stayed high well into the 1980s even though gold and CPI had fallen to low-inflation levels.