Wednesday summary: Moore on Simpson-Bowles; Pethokoukis on the financial crisis; Karlgaard on the euro.

In The WSJ, Stephen Moore reports the President may embrace Simpson-Bowles to regain credibility as a fiscal moderate.

At The American, James Pethokoukis notes a study refuting the prevailing progressive narrative of the financial crisis.

From NRO, Reihan Salam suggests the US is moving back towards the top of the Laffer Curve.

On The Kudlow Report, Rich Karlgaard discusses the falling euro:



In The WSJ, Harvey Golub compares the current recovery to 11 past.

On NRO, Thomas Sowell recounts Andrew Mellon’s tax cut arguments.

The Hill reports the Alliance for American Manufacturing pushing for currency manipulation requirements in future trade agreements.

In The NYT, Andrew Sorkin argues the Glass-Steagall Act wouldn’t have prevented the mortgage crisis.

Wednesday round up: Hubbard outlines Romney's new tax plan; Holtz-Eakin critiques the President's corporate tax plan; Domitrovic notes the CEA's rosy scenario.

At NRO, Larry Kudlow reports Mitt Romney will propose a bolder tax cut plan.

On The Kudlow Report, Glenn Hubbard discusses the Romney tax plan, including “cutting the corporate tax to 25%; eliminating the added tax burden on firms to bring overseas profits home; eliminating the corporate AMT and making the R&D credit permanent. On the individual side, a 20% cut across the board in marginal tax rates; eliminate the alternative minimum tax as well.”



At NRO, Doug Holtz-Eakin finds problems with the President’s proposal to cut the corporate tax rates.

From Forbes, Brian Domitrovic notes the rosy economic growth assumptions underlying the President’s budget.

The WSJ critiques the President’s plan to triple the tax on dividends.

In The WSJ, Benn Steil notes the Fed’s poor record of forecasting inflation.

From Alhambra Partners, Joe Calhoun worries inflation will undermine the recovery.

At First Trust, Brian Wesbury suggests stocks are still cheap.

From Newt.org, Newt Gingrich provides an interesting analysis of the US energy potential, but omits the dollar from his analysis:



On NRO, Reihan Salam examines declining labor force participation.

At The NY Sun, Ira Stoll reviews Allan Meltzer’s new book defending capitalism.

In The WSJ, Austan Goolsbee notes some of America’s uncounted trade surplus items.

Tuesday round up: Mundell on currency reform; Kadlec on Obama's yuan statement; Paul predicts electoral disaster if the GOP raises taxes.

China Daily reports Robert Mundell calling for international currency reform.

At Forbes, Charles Kadlec critiques the President’s call for China to raise the yuan’s value.

In The Washington Times, Richard Rahn assesses the Chinese economy.

From Forbes Media, Steve Forbes discusses the dollar and gold:

 

At Forbes, Ralph Benko suggests rising world peace means power will shift back to the people, including the gold standard.

On TGSN, Benko quotes President McKinley on the gold standard.

At RCM, John Tamny links today’s youth culture to Washington’s economic policy errors.

NPR examines the influence of Ayn Rand and Friedrich Hayek on today’s GOP.

On The Kudlow Report, Ron Paul predicts disaster for Republicans if the Super Committee agrees to tax increases:

 

From APR’s Marketplace, Reihan Salam argues economic growth is more important than equality.

At CNS, Pat Buchanan sees the GOP returning to the War Party.

In Politico, Mike Allen reports Nancy Pelosi’s effort to regain the House of Representatives’ majority.

Tuesday summary.

On NRO, Larry Kudlow explains that continued volatility between the dollar and euro is damaging the world economy.

At Forbes, Brian Domitrovic recounts how Sen. George Mitchell derailed George H.W. Bush’s drive for a capital gains tax cut in favor of higher taxes, dooming Bush’s presidency.

On The Kudlow Report, Heritage’s Curtis Dubay debates tax rates:




In The WSJ, Seth Lipsky reviews Nixon Fed chairman Arthur Burns’ diary.

At Alhambra Investments, Joseph Calhoun expresses cautious optimism on the economy.

Also on Kudlow, Brian Wesbury discusses the stock market’s weakness:




In Forbes, Wesbury and Robert Stein see the economy improving.

On NRO, Reihan Salam explains the negative budget impact of raising upper income tax rates.

NRO’s editors cite Art Laffer in opposing Sen. McCaskill’s (MO) millionaire tax rate increase.

The economic facts are a good deal more complicated. As the always-sensible Reihan Salam reports in the current edition of National Review, economists expect that raising taxes at the top end would reduce economic growth significantly. Democrats will call that a Republican talking point, but it is consistent with the findings of the nonpartisan Congressional Budget Office, currently under the management of Douglas Elmendorf, a Democratic appointee. The CBO numbers suggest that a partial preservation of the Bush tax rates — meaning a compromise that raises taxes on “the rich,” in this instance defined as those earning $250,000 or more — would reduce real GNP by 1.2 percent, as lower revenue necessitates more government borrowing, slowing down long-term economic growth. But an across-the-board extension would reduce real GNP by only 0.6 percent, cutting the economic losses in half. Another way of saying that is that the growth effects of extending the tax cuts at the affluent end of the scale would make up half of the forgone real GNP associated with the tax cuts. That isn’t Arthur Laffer’s analysis, it’s the Democratic-led CBO’s.

From the Mises Institute, Frank Shostak rebuts Nouriel Roubini on the gold standard. (Hat tip: Ralph Benko.)

At Capital Gains and Games, Bruce Bartlett continues to drift from classical economics by endorsing floating currencies.

Monday update.

On Forbes, John Tamny explains rising commodity prices indicate a falling dollar, not economic strength.

The WSJ critiques the Treasury’s trade balancing proposal as a recipe for further decline.

In any event, how do the world's would-be central planners know what is the ideal trade surplus or deficit? Many factors determine the competitiveness of a country's exports, including productivity, wage flexibility and more. Should nations like Germany that have run prudent fiscal policies, reformed their labor markets and raised productivity be chastised for exporting more goods than they import? Should countries like Australia be penalized for selling natural resources to a developing China that needs those imports to fuel growth? Should China be punished for exporting cheap goods to willing U.S. consumers?...

There was a time when U.S. officials understood that focusing so much attention on trade deficits and surpluses was counterproductive. In 1976, an advisory committee to the Treasury that studied the international economic accounts concluded: "The words 'surplus' and 'deficit' should be avoided insofar as possible . . . These words are
frequently taken to mean that the developments are 'good' or 'bad' respectively. Since that interpretation is often incorrect, the terms may be widely misunderstood and used in lieu of analysis." The world could use such wisdom today.

On The Kudlow Report, Art Laffer worries about the dollar’s future:



On The Daily Caller, Jared Whitley (a friend) argues the Tea Party should focus on growth, including a sound dollar, rather than budget cuts.

At The NYT, former Obama advisor Christina Romer recommends against austerity.

In The WSJ, Keynesian (and cash for clunkers advocate) Alan Blinder advocates short-term rebates and credits, plus increased government spending.

From July, Alan Reynolds analyzes the flaws in Blinder’s model.

Also on Kudlow, Dan Mitchell debates the impact of lower tax rates on the budget deficit:



In The LA Times, Nicole Gelinas suggests letting bad banks fail is necessary for recovery.

On NRO, Reihan Salam recommends streamlining government to reduce debt, but makes no reference to increasing the rate of growth.

Friday items.

WSJ editorialists discuss the economic malaise.

Heritage's J.D. Foster analyzes arguments for raising taxes.

Brian Wesbury sees good news in jobless claims.

At Fiscal Times, Bruce Bartlett suggests the balanced budget amendment is a sham.

NRO's Reihan Salam advocates a debate about how much government should cost.

At Fox News, Steve Forbes critiques the President's economics.

Friday items.

Historian and Econoclasts author Brian Domitrovic responds to yesterday's Reihan Salam column.

In The WSJ, Peter Ferrara suggests tax reform followed by lower spending is best to lower deficits.

On The Kudlow Report, David Goldman diagnoses the weak economy.

Also on Kudlow, Kevin Williamson debates taxes and deficits.

On Fox, David Malpass discusses deficits and taxes.

U.S. Rep. Paul Ryan (WI) makes good points in an interview with Ezra Klein, though he leaves out the unstable dollar.

Don Luskin explains why the market recently improved.

At Forbes, Michael Pento argues that deflation isn't the problem.

The WSJ examines what happens if the Bush tax cuts expire.

Reuters reports China has become the world's second largest economy.

Thursday round up.

On The Kudlow Report, Sen. Evan Bayh (IN) sounds more supply-side than most Republicans.

NRO's Reihan Salam discusses supply-side economics' origins.

Stanford's Ronald McKinnon advocates leaving China's exchange rate as is.

Kevin Williamson considers the CBO's recent debt report.

E.J. Dionne suggests it is fiscal stupidity to keep supply-side tax cuts but advocates more stimulus spending.

Don Boudreaux rebuts Dionne by explaining that the wealthy pay a larger share of taxes since rates were lowered.

Heritage's J.D. Foster defends deficit hawks who oppose tax increases.

At The Huffington Post, Joe Minarik argues there's little difference between debt incurred for tax rate cuts or Keynesian spending.

From the archive, the late Jude Wanniski presents Robert Mundell on international monetary reform.

Today I added two items under the Classic Articles area:

“A Deficit of Understanding” by Don Boudreaux; and

“The Needle's Eye: Why America's Economic Recovery Needs the Global South” by Reuven Brenner and David Goldman.

Unfortunately, "The Needle’s Eye" is behind First Things’ subscriber wall so I posted a free version. I highly recommend both articles.

Weekend round up.

The WSJ's Stephen Moore reports on the House Republican budget plan.

David Goldman is bearish on financial stocks.

At Seeking Alpha, Dian L. Chu rebuts Paul Kruman's Keyneisan success story in Iceland.

Don Luskin is holding onto his gold.

Paul Craig Roberts suggests libertarians should appreciate supply-side economics more.

The Atlas Economic Research Foundation defends free trade.

Ezra Klein suggests Democrats may extend some Bush tax cuts.

NRO's Reihan Salam validates deficit worries.

The NY Post debunks claims of stimulus success.

Thursday round up.

Robert Mundell believes the euro will survive.

Cato's Dan Mitchell considers the death tax's impact.

In The WSJ, Tenneco CEO Gregg Sherrill defends capitalism.

At The Weekly Standard, Gary Andres discusses deficit politics.

John Tamny reviews Sebastian Mallaby's More Money Than God.

President Obama commits to raising U.S. exports.

While Germany enjoys its positive export position.

Fortune imagines a world without the dollar as reserve currency.

Paul Krugman argues Reaganomics did not increase government revenue.

National Review's Reihan Salam counters Sen. McConnell's view that the Bush tax cuts paid for themselves.

The liberal American Prospect suggests Republicans are dishonest about tax cuts and deficits.

Monday round up.

In The WSJ, Steve Forbes refutes Hillary Clinton's claim that the rich don't pay their fair share.

Larry Kudlow suggests lower spending is the road to economic growth.

John Tamny sees government accountability as a one-way street.

Don Luskin translates the FOMC's latest report.

Terence Corcoran points to pressure on China to raise the yuan as protectionist.

In Forbes, Reihan Salam predicts a slow-growth decade.

A Crains columnist reports on an Art Laffer speech.

Russ Roberts claims Hayek is more relevant today than Keynes.

Ambrose Evans-Pritchard expects inflation.

Wednesday round up.

David Malpass argues small businesses need help.

David Goldman analyzes the economy’s weakness.

Richard Rahn worries regulation is growing too fast.

Larry Kudlow pans the President’s oil spill speech.

The WSJ editorial board notes that Hungary is embracing the growth solution.

Paul Krugman disputes claims of austerity-created prosperity.

Via Reihan Salam, Noah Millman says forget austerity, focus on productivity.

A Civil Society Trust’s blogger explains why trade deficits are irrelevant.

Forbes reports that due in part to low taxes, South Florida is becoming a magnet for wealth.

Warren Buffet and Bill Gates want the wealthy to give away half their wealth.

Of course, the best thing for the world probably is for talented entrepreneurs and business people to focus on doubling their wealth.

Wednesday articles.

David Warren of The Ottawa Citizen defends Art Laffer's analysis.

In Politico, Alan Reynolds compares the economies of Ireland and Greece.

Don Boudreaux explains why trade deficit phobia is protectionist.

Reihan Salam considers Jeffrey Sachs' argument that we are in a post-Keynesian era of austerity.

Kevin A. Hassett analyzes the tax on carried interest.

Tuesday update.

In The WSJ, historian and "Econoclasts" author Brian Domitrovic discusses Europe's GDP problem.

Nathan Lewis analyzes the Russian flat tax.

On the Kudlow Report, Steve Moore recently debated the economy.

NRO's Reihan Salam counters Paul Krugman on the 1980s.

John Tamny argues emergencies such as the BP oil spill should not be nationalized.

Here's the Harvard study mentioned last week on spending and growth.