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Articles by Arnold Kling

The Challenge of Achieving a Liberal Order Monday, April 2, 2012
In order to have the rule of law, a society must have cultural institutions that promote rules and norms that cannot be overturned by autocrats.
Economics: A Million Mutinies Now, Part Two Wednesday, March 14, 2012
We have accumulated more than six decades of macroeconomic experience since the end of World War II, yet neither stubborn Keynesians nor stubborn monetarists ...
Economics: A Million Mutinies Now Monday, February 27, 2012
There are now so many versions of ‘what's wrong with the economics profession’ that, with apologies to V.S. Naipaul, I could describe the state of economics as ...
The Case for an Executive Re-Organization Wednesday, January 11, 2012
The executive branch of the federal government is a sprawling collection of programs and agencies, many working at cross-purposes or to no good purpose at all. ...
The Political Implications of Ignoring Our Own Ignorance Thursday, December 8, 2011
Do individuals’ cognitive biases provide a justification for government intervention? No.
What If Middle-Class Jobs Disappear? Thursday, November 3, 2011
Structural change is an important factor in the current rate of high unemployment. The economy is in a state of transition, in which the middle-class jobs that ...
What to Do with Super-Achievers? Saturday, October 15, 2011
Society is better off when super-achievers do their striving within the private sector rather than in government.
The Soothsayers of Macroeconometrics Monday, September 19, 2011
Applying macroeconometric models to questions of fiscal policy is the equivalent of using pre-Copernican astronomy to launch a satellite.
Prosperity, Depression, and Progress Sunday, May 8, 2011
Any historical study that focuses on the Great Depression is bound to ask what parallels there are with the current period of prolonged high unemployment.
Putting Mr. Market on the Couch Wednesday, March 9, 2011
When it comes to our swinging stock market prices, what is the problem and what are the solutions?
What’s Stalling the Next Economic Revolution? Thursday, September 9, 2010
The next economic revolution is likely to come in healthcare and education. Two things stand in the way: credentials cartels and state-subsidized incumbents.
When Labor Is Capital: The Limits of Keynesian Policy Friday, August 6, 2010
The economic mystery of 2010 is the persistence of high unemployment, in spite of stimulus that follows the prescription of the prevailing Keynesian orthodoxy. ...
Why Our Current Budget Situation Is a Crisis Tuesday, May 4, 2010
There is no precedent for reducing the ratio of debt to GDP by simply growing our way out of it.
Not Your Grandfather's (or Keynes’s) Economy Saturday, November 7, 2009
The complexity of today's economy means that old-fashioned Keynesian policies will not restore full employment.
Regulation and the Financial Crisis: Myths and Realities Wednesday, September 9, 2009
Many regulatory policies were major contributors to the crisis. To proceed without examining past policies, particularly in the areas of housing and bank ...
The Problem with the Biggest Tax Break in America Monday, June 15, 2009
How can we cut back on employer-provided health insurance and at the same time reduce the number of households that are uninsured? We must reconceive the very ...
Would Keynes Have Supported The Stimulus Bill? Monday, February 23, 2009
The economists that you hear less about are those who oppose the bill because of their reading of John Maynard Keynes.
Main Street vs. Wall Street Friday, October 3, 2008
The financial bailout isn’t as bad as Main Street thinks. It’s worse.
Fragile by Design Friday, July 25, 2008
If we could start from scratch, we would not create a mortgage finance system dominated by an enormous duopoly.
The Depressive Realism Economy Tuesday, July 15, 2008
America’s economic self-esteem has suffered three major blows. Adapting to the new reality will take some time.
How to Fix Healthcare Delivery Tuesday, June 17, 2008
Imagine a system in which doctors answered to corporate management and corporate management answered to patients.