Wednesday summary: Benko on GOP platforms and gold; Mitchell on Keynesianism; Wesbury doubts QE3.

From TGSN, Ralph Benko recounts the history of Republican presidential platforms that included a gold money plank and wonders about 2012.

At International Liberty, Dan Mitchell debates Robert Reich on Keynesianism.

On The Kudlow Report, David Goldman analyzes market volatility:

In The WSJ, Stephen Moore reports declining support for California’s tax hikes.

From First Trust, Brian Wesbury doubts the Fed will initiate QE3.

In The WSJ, Gerald O’Driscoll predicts the breakup of the euro.

On Asia Times, Cedrick Mohammed examines China’s activity in Africa.

In The WSJ, Yukon Huang advises China to liberalize its economy.

On CNN, Stephen Moore debates Norm Ornstein on Washington gridlock:

In The Financial Times, Bruce Bartlett advises the President to focus his economic message on government works and loose money.

At The Daily Beast, David Frum suggests bad monetary policy is like arsenic.

Monday round up: Benko and Kadlec on Cain; Lazear and Moore on austerity; Reynolds on executive pay.

From Forbes, Ralph Benko and Charles Kadlec applaud Herman Cain’s new book for its focus on the gold standard.

In The WSJ, Edward Lazear argues the supply-side view of austerity – cut spending, keep taxes low -- is correct.

At Cato, Alan Reynolds explains that today’s higher executive pay is due mainly to past tax reforms thatreduce penalties for declaring income.

On The Kudlow Report, Stephen Moore discusses austerity vs. stimulus:



In Forbes, John Tamny opposes the estate tax.

The NY Sun recounts the history of the Federal Reserve's founding.

On The Daily Beast, David Frum highlights Charles Kadlec debating the gold standard.

In The WSJ, Stephen Moore notes strong poll numbers for Gov. Scott Walker (WI).

At PJ Media, David Goldman applauds Germany for insisting upon Greek budget cuts.

In The WSJ, Matthew Sinclair outlines ideas for British tax reform.

From Heritage, Rob Bluey summarizes the 2013 tax increases.

Wednesday items: Newt proposes gold commission; Domitrovic on Romney at Bain; Jenkins on the financial meltdown.

Big news: The Weekly Standard reports Newt Gingrich advocates a gold commission:



The WSJ argues Mitt Romney should use news of his 15% tax rate to argue for fundamental tax reform.

At Forbes, Brian Domitrovic explains the economic context of Romney’s work at Bain Capital.

On The Kudlow Report, James Pethokoukis discusses Gingrich’s rise in the polls:



At RCM, John Tamny suggests Ben Bernanke was right in 2006 for wanting the Federal Reserve to let the mortgage market unwind.

In The WSJ, Holman Jenkins examines the causes of the 2008-09 financial meltdown, but omits Robert Mundell’s claim that the rapid 30% dollar appreciation in summer 2008 was the central factor.

On The Daily Beast, David Frum defends the 15% capital gains rate.

Futureofcapitalism rebuts The NYT on the capital gains tax rate.

On The Mike Rosen Show, Cato’s Alan Reynolds critiques Ronald McKinnon’s call for a wealth tax.



At IBD, Walter Williams notes the inequality of wealth creation as opposed to income.

From Fox News, David Pietrusza cites Calvin Coolidge on marginal tax rates:

If we had a tax whereby on the first working day the Government took 5 per cent of your wages, on the second day 10 per cent, on the third day 20 per cent, on the fourth day 30 per cent, on the fifth day 50 per cent, and on the sixth day 60 per cent, how many of you would continue to work on the last two days of the week?

From Alhambra Partner, Joe Calhoun worries at bullish sentiments.

At TGSN, Ralph Benko argues mismanagement of the gold standard led to the Great Depression.

On NRO, Jim Manzi considers how to cut marginal tax rates on the poor.

In The WSJ, actor Rick Moranis satirizes modern economic theories.

Monday items: Domitrovic and Stoll on the new Nobel Laureate; Benko on US/China currency debate; Mundell on the Greek debt problem.

From Forbes, Brian Domitrovic adds the new economics Nobel Laureate, Thomas Sargent, to the growing list of Phillips Curve debunkers.

In The NY Sun, Ira Stoll notes Sargent’s skepticism of Keynesian stimulus.

From last week’s Roll Call, Ralph Benko argues the floating dollar’s reserve status is responsible for the US/China trade imbalance.

Also from last week on Bloomberg, Robert Mundell explains that a Greek default would spread damage to the US:



At RCM, Bretton Woods Research suggests the Occupy Wall Street protestors are motivated by the monetary-induced weak economy.

On Business Week, Caroline Baum claims a flat tax would reduce the corruption opposed by the Occupy Wall Street protestors.

From Herald Scotland, Antony Akilade provides a detailed history of gold and fiat currency.

At Future of Capitalism, Ira Stoll rebuts the claim that the 1950s and 1990s prove that high taxes can correspond with high growth eras.

On The Kudlow Report, James Pethokoukis discusses the Tea Party’s hostility towards GE:

 
From International Liberty, Dan Mitchell argues Republicans should make no deal on the budget and allow the sequestration process to run its course.

On Forbes, John Tamny reports from the Nantucket Project on innovation.

At his blog, David Frum outlines what Republicans get wrong on economics, some of which is good but he includes “it is wrong to fetishize the exchange value of the dollar against other currencies.”

Wednesday round up: Tamny on Operation Twist; Reynolds says Marx would oppose Keynesian spending; Pethokoukis, Limbaugh, and O'Grady discuss Christie.

From RCM, John Tamny explains that the Fed’s Operation Twist doesn’t change the facts of production.

At The Daily Caller, Alan Reynolds notes Karl Marx opposed Keynesian-style stimulus.

In The Intercollegiate Review, Lew Lehrman outlines the problems caused by the floating dollar.

On The Kudlow Report, James Pethokoukis and Stephen Moore discuss Gov. Chris Christie (NJ) and Herman Cain:

 

In The WSJ, Charles Schwab advocates dropping tax hikes and government spending stimulus in favor of eliminating “all hurdles that create disincentives for investment in business.”

At Cato, Steve Hanke suggests Basel III’s higher capital/asset ratios may cause another market crash.

From First Trust, Brian Wesbury and Robert Stein argue gold’s sharp fall indicates tighter monetary policy and is good for the economy.

The WSJ reports US Rep. Paul Ryan’s (WI) new health care reform proposal to replace Obamacare.

From The WSJ, Mary Anastasia O’Grady says Chris Christie’s big speech last night was reminiscent of Reagan:

 

On his radio show, Rush Limbaugh expresses skepticism of Christie, saying he hears John McCain in some of his comments.

From NPR's Marketplace, David Frum disses gold and calls for more quantitative easing. His blog features several negative commentary on gold.

Weekend edition: Malpass argues for a stronger dollar; Lewis on transitioning to gold currency; Forbes hammers Summers on the weak dollar.

From The WSJ, David Malpass argues that a weak dollar means a weak economy.

At Forbes, Nathan Lewis outlines a path to gold-linked currency.

CNBC reports the head of one of China’s top rating agencies predicting the end of the dollar as world reserve currency.

On CNN, Steve Forbes hammers Larry Summers on the dollar in a larger discussion of the economy and the Standard & Poor’s downgrade:




At NRO, Larry Kudlow argues the President’s economic proposals won’t help.

In Forbes, John Tamny blames government interference in the economy for the ongoing malaise.

The NY Sun predicts the federal budget debate will eventually come back to sound, constitutional money.

At The Daily Caller, David Malpass offers ideas to stabilize Europe.

Risk.net reports supply-side guru Robert Mundell’s three strategies to save the euro:

In the short term, Mundell says policy is needed to manage the debt crisis. "This must involve austerity and adjustment along with policies for growth in the ailing countries," he says.

For the intermediate run, he says policy is needed "to work towards some kind of fiscal harmonisation and authority".

In his vision for the long run, Mundell says he believes the time is ripe to "take a big step towards the creation of the United States of Europe"….

Mundell says the "huge swings" in the dollar-euro rate were a significant problem, precipitating "both the Greek crisis and the Lehman et al crisis".

In The WSJ, Stephen Moore likens the current environment to the time before the big 1986 tax reform. And in The Washington Post, Charles Krauthammer argues for a grand bargain featuring tax reform and spending cuts.

At Forbes, Peter Ferrara analyzes baseline budgeting’s impact on the deficit and taxes.

In The WSJ, Stephen Moore suggests the market fell last week because policy is still moving in the wrong direction.

Future of Capitalism cites Prof. Robert Mundell’s advocacy of cutting the corporate tax rate and making the Bush tax rates permanent in its 27 good ideas for growth.

On The Kudlow Report, Stephen Moore discusses S&P’s debt downgrade, based in part on Republican refusal to raise taxes:




At Forbes, Reuven Brenner advocates investment in Africa rather than aid handouts.

The WSJ argues Keynesian ideas have been tried and failed.

On Bloomberg, Caroline Baum suggests spending stimulus doesn’t work.

At RCM, Brian Wesbury and Robert Stein note the economy’s strong fundamentals.

On Kudlow, David Malpass sounds optimistic about Italy’s budget workout:




At Forbes, Nouriel Roubini predicts Ben Bernanke will enact QE3, but too late.

On his blog, conservative David Frum suggests Paul Krugman’s economic analysis has been right.

At COAL, Krugman comments on Frum’s analysis.

Also on COAL, Krugman reiterates his claim that the US is stuck in a liquidity trap requiring massive government spending and liquidity injections.

Tuesday update: Frum argues the debt ceiling debate was a strategic error; Calhoun sees global contraction; Kudlow links the President's tax hike talk to the market dive.

From CNN, David Frum argues Republicans have made a strategic error focusing on debt rather than growth and jobs

On Alhambra Investment, Joe Calhoun reports contractionary pressures across the world.

At Asia Times, David Goldman suggests declining consumer confidence is behind the market sell off.

On The Kudlow Report, Larry Kudlow links the President’s return to tax hikes today to the market dive:




MarketWatch notes that corporate profits are at record levels while family incomes are falling (h/t: David Goldman).

At last week’s WSJ, Gerald O’Driscoll suggests the Federal Reserve’s emergency lending provision has made it an unelected player in fiscal policy.

From The Washington Times, Richard Rahn worries about growth of government.

On The Daily Caller, Brian Wesbury defends the Tea Party from The Wall Street Journal’s criticism.

On Kudlow, David Goldman argues stocks are cheap:




On International Liberty, Dan Mitchell explains that raising taxes will be on the table in the fall’s second debt debate.

From Project Syndicate, Harvard’s Kenneth Rogoff advocates inflation to fix the economy.

At COAL, Paul Krugman notes low inflation numbers.

Monday update.

Thanks to Alan Reynolds for recommending a 1986 compendium from the Adam Smith Institute (UK), It Pays to Cut Taxes. I've added it to the Classic Articles section.
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At Forbes, Charles Kadlec explains that economists increasingly accept that tax rate cuts and lower spending are essential to economic growth.

On The Next Right, D.R. Tucker advises supply-siders to better document the benefits of their ideas to average Americans. (Hat tip: Frum Forum.)

At NRO, Larry Kudlow wonders if President Obama is moving towards supply-side economics:

And now it’s fascinating to watch the money-politics dynamic continue. On a recent Sunday talk show, top Obama economic advisor Austan Goolsbee sounded like a Reagan disciple. “You’ve got direct incentives for companies to invest in the country,” he said. And he went on to describe a new Obama economic model that sounds suspiciously supply-side: “The focus has got to be on investment, on exports, and on innovation. . . . The president is firmly in that — planted in that camp — and we are going to grow our way out of this.” (Hat tip to economist Don Luskin.)

On The Kudlow Report, Stephen Moore expresses skepticism about the President’s change of heart:




At Forbes, John Tamny responds to Scott Sumner’s charge of anti-intellectualism.

The WSJ editorializes that Canada is prospering thanks to corporate tax rate reductions:

Relative levels of taxation matter because companies and investors send capital where it can achieve the highest returns. Yes, U.S. companies often pay a lower effective tax rate thanks to loopholes, but the variability leads to economic inefficiency and investment distortions. Low marginal rates have helped the likes of Hong Kong (16.5%), Singapore (17%) and Ireland (12.5%) attract capital, while the high U.S. rate keeps hundreds of billions of dollars from coming to America from offshore.

Also on Forbes, Amity Shlaes praises the use of new technology to communicate sound economics.

Tuesday update.

Sorry for the recent site trouble. Google/Blogger had some kind of problem. Thanks for your patience.
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In Forbes, Reuven Brenner examines the ideas that lead to prosperity.

At RCM, John Tamny analyzes the factors behind the Clinton boom.

On The Kudlow Report, Stephen Moore debates the President’s turn toward growth economics:




At Forbes, Ralph Benko argues Tea Party populism stems from relative world peace.

On The Washington Times, Richard Rahn debunks tax-the-rich rhetoric.

In three parts on Forbes, Charles Kadlec opposes tax-the-rich arguments, here, here, and here.

On Kudlow, David Goldman analyzes the economy:




On Bloomberg, Amity Schlaes sees the payroll tax cut as a significant flaw.

On Lew Rockwell, Bob Murphy comments on David Frum’s analysis that Chicago school economics have lost ground to Austrian economics.

Wednesday items.

At CNBC, Larry Kudlow writes that dollar decline doesn’t help the economy.

On Gordon Liddy’s radio program, John Tamny discusses gold and the falling dollar.

From China’s CCTV, Robert Mundell opposes raising the yuan.

The NY Times’ David Leonhardt explains several reasons why a higher yuan won’t help the US, but supports doing it anyway. He omits that a significant yuan rise will push down Chinese prices, cancelling out the impact on global trade.

In The LA Times, Peter Navarro – who, oddly, calls himself a supply-sider – urges Congress to punish China for its yuan/dollar peg.

On Kudlow, David Goldman debates Fed policy:



At Asia Times, Goldman comments further.

On Forbes, U.S. Rep. Cathy McMorris Rodgers (WA) suggests easy Fed policy enables government debt.

At CNBC, David Malpass analyzes his Senate campaign and the state of the economy:



Bloomberg’s Amity Schlaes estimates total top tax rates will rise above 50 percent if the President’s tax proposal takes effect.

At NRO, Kevin Williamson distinguishes between Keynesian tax rebates and long-term supply side tax cuts.

Also on Kudlow, Allen Sinai discusses his study on cutting capital gains taxes:



On The Frum Forum, Scott Winship argues income inequality arguments are overstated.

Thursday round up.

At his blog, historian Brian Domitrovic offers a great explanation of how floating currencies caused Japan's Lost Decade, and today threatens China.

Cato's Dan Mitchell responds to Ezra Klein's recent discussion of the Laffer Curve.

On The Kudlow Report, U.S. Rep. Barney Frank supports ending Fannie Mae and Freddie Mac.

David Frum's website interviews Art Laffer regarding tax increases for the rich.

Art Laffer disputes the President’s view that Social Security does not face a crisis.

In The WSJ, the Council on Foreign Relation's Benn Steil and Paul Swartz suggest current monetary tactics will force the Federal Reserve to float interest rates (full text here).

From the archive, Jude Wanniski advocates the Fed float interest rates in favor of a dollar price rule versus gold.

Robert Reich opposes Mitt Romney's supply-side proposals, saying low demand is the problem.

Swiss America Trading’s CEO explains why businesses and investors are sitting on their money.

Say what you will about Reich’s economics, he does have a good sense of humor:

At AEI's The American, Mark J. Perry explains why trade deficit statistics are unreliable.

At Cafe Hayek, Don Boudreaux rebuts The NYT's claim that a rising trade deficit is harmful.