Economists say lots of things. Many of them are wrong

first_imgThere’s plenty of evidence, in the article and elsewhere, that this kind of deregulation has plenty to do with investment and job growth.There is also plenty of evidence that econ reporters at major publications have spent the past decade propping up economists who tell them what they want to hear.That is to say, they prop up economists who obsess over “inequality” rather than economic growth, who worry about the future of labor unions or climate change or whatever policy liberals happen to be plying at the moment.There are plenty of economists out there making good arguments for the free market who will never be member of the “economists say” clique.For eight years, we consistently heard about how “economists say” everything Democrats were doing was great (even when hundreds disagreed).Unsurprisingly, “economists” were wrong about a lot.The rosy predictions set by President Obama’s Council of Economic Advisers regarding the “stimulus,” the administration’s prediction of 4.6 percent growth by 2012 and the Congressional Budget Office predictions about Obamacare were all way off base. But not to worry!Over the next few thousand words, the authors do their best to assure readers that neither deregulation nor tax cuts are really behind this new economic activity — even if business leaders keep telling them otherwise.For example, they claim that “There is little historical evidence tying regulation levels to growth.”A few paragraphs later, we again learn that “The evidence is weak that regulation actually reduces economic activity or that deregulation stimulates it.”A reporter without an agenda might have written that evidence was “arguable,” because I bet I could corral a bunch of economists to tell you that lowering the cost of doing business spurs economic activity quite often.And though the Trump administration somewhat overstates its regulatory cutbacks, it has stopped hundreds of Obama-era regulations from being enacted.Even better, it has stopped thousands of yet-to-be-invented regulations from ever being considered. Perhaps these corporations only did it all to gain favor with the administration.Hey, some people suck up to government by cutting bonus checks for their workers, and some people make electric cars no one wants.The fact is that deregulation and tax cuts matter.We already have evidence.We just don’t give voice to the economists who would tell us so.David Harsanyi is a senior editor at The Federalist and a nationally syndicated columnist.More from The Daily Gazette:EDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Find a way to get family members into nursing homesEDITORIAL: Beware of voter intimidationFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Thruway tax unfair to working motorists (Indeed, 36 percent of those polled gave the wholly rational answer of “uncertain.”)“We’ll be lucky to have 2 percent” growth, “economists say” regular Mark Zandi told CNN in May.Certainly, the economy doesn’t have the room to grow that it had in 2007 or 2012.But so far, Zandi is wrong about that.Neither deregulation nor tax cuts are a panacea.But businesses have already acted on deregulation and corporate tax cuts.Dozens of companies announced they would hand out bonus checks to hundreds of thousands of workers before the corporate tax cut was even signed into law. Categories: Editorial, Opinion“A wave of optimism has swept over American business leaders, and it is beginning to translate into the sort of investment in new plants, equipment and factory upgrades that bolsters economic growth, spurs job creation — and may finally raise wages significantly,” opens a recent New York Times article surveying the state of the American economy.One imagines that readers of the esteemed paper were surprised to run across such a rosy assessment after having been bombarded with news of a homicidal Republican tax plan for so many weeks. Vox, a leading light in the liberalism-masquerading-as-science genre, ran an article headlined “The Controversial Study Showing High Minimum Wages Kill Jobs, Explained.”You might wonder why incessantly quoted studies from liberal “nonpartisan” groups that falsely predicted minimum wages wouldn’t hurt cities aren’t “controversial.”Because if you want to raise the minimum wage, you will raise the price of labor and often reduce the amount of labor that’s going to be hired.That’s the trade-off.For decades, most economists agreed.While most economists I’ve known are relatively humble about forecasting, the ones who aren’t get most of the press.“Out of 42 Top Economists, Only 1 Believes the GOP Tax Bills Would Help the Economy,” a November Vox headline read. There are thousands of unknowns that can’t be quantified or computed, including human nature.But after decades of using data to help us think about goods, services, jobs, consumption and our choices, “economists say” is now used to coat liberal policy positions with a veneer of scientific certitude.And since Democrats began successfully aligning economics with social engineering, we’ve stopped seriously talking about the tradeoffs of regulations.A good example of this trend is the push for a $15 minimum wage — an emotionally satisfying, popular and destructive policy idea.Most cities that have passed the hike have experienced job losses.When researchers at the University of Washington studied Seattle’s $15 minimum-wage hike, one of the largest in the nation, they found that thousands of fewer jobs were created and thousands of people lost hours of work, making them poorer.No doubt a lot of people were surprised.last_img read more

EU aims to boost investment in small cap, CEE with new indices

first_imgThe European Commission is targeting the development of an equity index family covering all listed companies in the EU, flagging the possibility of the emergence of a “Capital Markets Union asset class”.The aim is to facilitate increased investment in a large pool of companies, including small and medium-sized enterprises (SMEs), in particular in the Baltics and central, eastern and south-eastern Europe.These represented the bulk of companies listed in the EU in recent years, but typically were not included in EU-wide equity indices calculated by international index providers, the Commission said in a tender document for a feasibility study for the creation of a CMU equity index family.In addition, in recent years institutional investors had shifted their attention to larger and more liquid listed companies, to the detriment of smaller listed companies and markets, it said. Classifying certain EU countries as frontier markets prevented institutional investors from being able to allocate to them, the Commission noted, highlighting Bulgaria, Croatia, Estonia, Latvia, Lithuania, Romania, Slovakia, and Slovenia. Credit: Voytek SRiga Stock Exchange in LatviaEstonia, Lithuania, Romania and Slovenia are included in MSCI’s frontier markets index family, while Bulgaria is a standalone index, but based on MSCI’s size and liquidity criteria for frontier markets.“The creation of an EU-wide CMU index could facilitate greater local and foreign capital inflows from a broad range of investors and enhance access to finance for a larger pool of companies, especially SMEs,” said the Commission. “SMEs in all countries and more generally in small capital markets could benefit from such [a] broadly defined and inclusive index.”The possible emergence of a “CMU asset class” could also help overcome different country classifications at EU member state level, the Commission added.US exampleThe Commission cited the Wilshire 5000 Total Market index in the US as a possible example of what the CMU index could look like. The Wilshire 5000 is a market cap-weighted index of all stocks actively traded in the US.The feasibility study should develop the conceptual framework for a CMU index family and assess its market potential, according to the tender document. The market potential assessment should be based on “extensive market research and surveys among relevant institutional investors who should be also tested for the acceptance of the newly designed index”.“The analysis should pay special attention to asset manager institutions who act as opinion leaders for end institutional investors,” added the Commission.The index should comprise companies listed on regulated markets and SMEs listed on growth markets, it said, and there should be sector or thematic sub-indices. These should cover “strategically important areas”, such as fintech or sustainability.The deadline for applications is 8 February and the documents are available here.last_img read more

Gold Coast home has water views from almost every room

first_imgThe kitchen is huge!The property features 30m of east-facing water frontage. There are four bedrooms including two ensuited master bedrooms, a study, kitchen with stainless steel appliances, separate lounge, dining room, two family rooms and a pool with entertaining terrace.Since owning the house, the family have updated the airconditioning. “When we bought the house there wasn’t any airconditioning because the house truly does stay cool without them for 99 per cent of the summer, thanks to the double-brick construction and cooling ocean breezes,” she said. “However, for that occasional one per cent of extremely hot and windless summer days, we finally bit the bullet 18 months ago and installed four brand new split-system airconditioning units.” Enjoy breakfast, lunch and dinner with a view.If you want a water view from almost every room, this is the house for you.Joanne Rahn bought the sprawling Runaway Bay property in 2014 — the design initially sparked her attention.“I love the fact the house was architecturally-designed specifically for the fan-shaped block,” the mother-of-two said. “All four bedrooms have the most spectacular views — the block is what many consider to be among the best blocks on Runaway Islands.” Wake up to water views. The perfect spot to soak up the sun and views in summer.More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago The property from the street.Ms Rahn said she had fond memories of the property including bringing her newborn daughter home, birthday parties, and kayaking and stand up paddle boarding around the canals. She considered Runaway Bay one of the best suburbs on the Gold Coast.“(It’s) a fabulous, safe place to raise a family,” she said “So close to schools, shopping centres, the best restaurants on the Gold Coast, sports fields and Runaway Bay Sports Super Centre.”last_img read more

Italian FA open to restart Serie A in September or October

first_img Promoted ContentCan Playing Too Many Video Games Hurt Your Body?10 Stargazing Locations To ‘Connect With Nature’Top 9 Scariest Haunted Castles In Europe7 Ways To Understand Your Girlfriend BetterWhy Go Veg? 7 Reasons To Do ThisWho Is The Most Powerful Woman On Earth?6 Interesting Ways To Make Money With A Drone8 Superfoods For Growing Hair Back And Stimulating Its GrowthThe Models Of Paintings Whom The Artists Were Madly In Love With5 Of The World’s Most Unique Theme ParksTop 10 Most Romantic Nations In The World11 Strange Facts About Your Favorite TV Shows Gravina explained that if the current season was abandoned, Italian football could suffer “an avalanche of litigation to which we would be subjected by all those who could be considered damaged in their rights and interests.” The Serie A season could be extended to September or October, the head of the Italian FA (FIGC) Gabriele Gravina, said on Sunday, warning that there could be an “avalanche of litigation” if it was not settled on the field. Serie A has been suspended since March 9 because of the coronavirus pandemic which has claimed 15,887 lives in Italy, almost a quarter of the global death total. Several club presidents have suggested that the season should be called off. Gravina said September and October could be used to complete Serie A. “The only serious way to handle a serious emergency of this kind is to complete the 2019-2020 season competitions this year,” FIGC president Gabriele Gravina told state broadcaster RAI’s Domenica Sportiva program. “We are working on a whole series of possible solutions to manage the situation in the best possible way. Could it finish in September of October? That is one hypothesis. It’s a way to avoid jeopardizing not only the 2019-20 season but also the 2020-21 season.”Advertisement Read Also: UEFA clarify Ceferin’s Champions League update This could include teams who were relegated and those who missed out on European football next season. He added: “We would really run the risk of the championship taking place only in the courtrooms.” Last Thursday, UEFA called on leagues around Europe to complete their seasons once football is able to restart. The European governing body added that if a league was called off, its clubs might not be accepted into the Champions League and Europa League next season. Gravina added that May 17 was being considered as a possible date for a restart but stressed that this was “an hypothesis.” FacebookTwitterWhatsAppEmail分享 Loading… last_img read more

Antique caravan to give free services to ‘conflict’ areas

first_imgHelp desks by the government frontline offices would also assist those who would inquire or process somedocuments. An officer of the Philippine Army gives free haircut to a student in Barangay Tubudan, San Remigio, Antique last year. The Provincial Task Force to End Local Communist Armed Conflict will also conduct a two-day medical and dental mission and information caravan that will benefit around 1,500 individuals from Antique’s two towns starting today. MARGIE GADIAN/PNA Gadian said the provincial governmentwill also provide medicines and vitamins to the community. The PTF-ELCAC, which was created lastSept. 26 through Executive Order 119 signed by Governor Rhodora Cadiao, willfacilitate the caravan starting today. “The PTF-ELCAC has chosen to conductthe medical, surgical and dental mission and information caravan in theidentified conflict areas because of the continuing presence of the NewPeople’s Army in San Remigio and Valderrama,” provincial consultant on peaceand order Margie Gadian said on Monday. The Department of Social Welfare andDevelopment will distribute used clothing to the indigents while the Departmentof Labor and Employment will provide school supplies for pupils in thehinterland barangays. “We actually have been conducting ayearly medical-dental mission in the conflict areas but this year it isdifferent because of the convergence of the different government agencies,”Gadian said, adding that the activity will target those living in conflictareas.(With a report from PNA/PN) SAN JOSE, Antique – The ProvincialTask Force to End Local Communist Armed Conflict (PTF-ELCAC) here will conducta two-day medical and dental mission and information caravan that will benefitaround 1,500 individuals from the province’s two towns.  Gadian said the Armed Forces of thePhilippines with the Department of Health will bring their doctors for the saidmission in Barangay Osorio, San Remigio town today and in Barangay Pandanan,Valderrama on Oct. 25.last_img read more

Monk avoids FA sanction

first_img After Fernandez was sent off by Stroud, Dejan Lovren’s header snatched a 2-1 win to send Liverpool through to the quarter-finals. “It’s clearly not a red card whatsoever,” Monk told BBC Sport. “If anything, the Liverpool player Coutinho’s feet actually come in above our player’s. “So how he saw it as a red card is not good, but he’s a good referee and hopefully he sees some sense and will rescind that red card.” Monk intends to hold talks with former referee Mike Riley, general manager of Professional Game Match Officials Limited, the body that trains and provides match officials, about recent decisions. “I’ll speak to Mike (Riley) on Friday. Just to chat and go through things, there’s one from Stoke and obviously this one (at Liverpool),” Monk said. Swansea announced on Wednesday: “Swansea City can confirm that the Football Association will not be taking any further action regarding media comments made by manager Garry Monk following the recent Barclays Premier League fixture at Stoke City. The FA, who asked Monk for his observations following the fixture, has reminded the Swansea manager about his responsibilities regarding media comments.” In the wake of Swansea’s League Cup exit at the hands of Liverpool on Tuesday, Monk’s wife reacted angrily after saying a letter was hand-delivered to the couple’s family home criticising her husband’s performance in his post. Lexy Blackwell posted on Twitter, saying she had received the letter from a neighbour. She wrote: “Absolutely incensed a NEIGHBOUR has the audacity2hand deliver a letter moaning at Garry’s handling of things/everything he’s doing wrong. “If u want2talk2him go2the Swans.Don’t come2my childrens home. Or better still,as u think u know better than him,y don’t u bcome a manager.” Swansea will be hoping for a favourable verdict from the FA after appealing against the red card shown to Federico Fernandez late in the game at Anfield. The Argentinian was dismissed by referee Keith Stroud in stoppage time for a challenge on Philippe Coutinho and faces a three-match suspension. Swansea announced they informed the FA of their appeal before Wednesday’s 1pm deadline, allowing the governing body to make a decision before Saturday’s league trip to Everton. The Football Association announced Monk will not face any further action following his post-match comments on October 19, when he was incensed over Moses winning Stoke a penalty from which they equalised on their way to a 2-1 win over Swansea at the Britannia Stadium. Monk also described referee Michael Oliver’s decision to award the spot-kick as “disgusting” and was asked to explain himself by the FA. Swansea boss Garry Monk has avoided punishment after accusing Stoke winger Victor Moses of “clear cheating” – and saw his wife rally to his support on Wednesday. Press Associationlast_img read more

Giwa’s NFF Appoints Dead Referee to Officiate NPFL Game

first_imgRejects Dalung’s Reconciliation movesDuro IkhazuagbeIn a clear case of absurdity, the Chris Giwa group laying claim to the leadership of the Nigeria Football Federation (NFF) wednesday listed a Nigerian referee who died since January 22, 2016 as one of the arbiters to officiate a Nigerian Professional Football League (NPFL) this weekend.The said late referee, Wale Akinsanya passed on during the mandatory FIFA Cooper Test for match officials in Ibadan.In a statement sent to the League Management Company (LMC) and signed by one Yahaya Adama, the late referee was listed to officiate as the centre referee of the clash between Warri Wolves and Giwa FC at the Warri City Stadium this weekend. The late Ibadan-based referee was listed to be assisted by Tope .O from Osun State and Adeleke M of Oyo State in the game.Earlier yesterday, the Giwa group had rejected the peace move by Sports Minister, Solomon Dalung to end the crisis in the administration of the game in the country by setting up a reconciliation Committee headed by former NFA President, Ibrahim Galadima.In a statement signed by the group’s self christened Chairman of Chairmen, Effiong Johnson, it urged Nigerians to disregard the action of the minister, as it was to hoodwink football followers.“In the first place, the minister is a party to the case in court as the fourth defendant and when the court by an Order made on April 8 2016 restored all its previous orders, including the order which nullified and set aside the election which purportedly produced Amaju Pinnick et al. The minister betrayed his partisanship in the dispute by wasting no time to hold brief for the Amaju Pinnick group in his erroneous and flawed public statement that the group was entitled to 30 days to appeal against the ruling of the court.“The minister has thus lost the moral podium to midwife any settlement of the dispute. Secondly, the composition of the membership of the so-called reconciliation committee leaves no one in doubt that it was constituted only for a hatchet job for the Amaju Pinnick group,” he said.Effiong added: “virtually all members of the committee are associates of the Amaju Pinnick group. For instance, Musa Amadu is not only a co-defendant with the minister in the case but is also the chairman of the Organising & Disciplinary Committee of the Amaju Pinnick group. Barrister Okey Obi has made statements in many fora on behalf of the Amaju Pinnick group and has also appeared in court as counsel to the defendants, while Paul Bassey is known to be an avowed supporter of the Amaju Pinnick group.”Dalung inaugurated the reconciliation committee at the conference room of the National Stadium in Abuja, and charged them with the mandate of restoring peace to the crisis ridden Nigeria Football Federation.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

UW excited for 1st Frozen Four

first_imgThe Wisconsin women’s hockey team is heading to its first-ever Frozen Four, but it didn’t come easy.It took more than 90 minutes worth of action against Mercyhurst, but Tia Hanson secured a victory by tipping in the winning goal in double overtime Saturday night at Capital Ice Arena.”I didn’t see it go in,” Hanson said. “I just saw everyone pile on, so I just joined the crowd.”Her goal at 90:10 ended the longest game in UW history and punched the Badgers’ ticket to Minneapolis’ Mariucci Arena.”The toughest thing about the Frozen Four is getting in, and now we’ve got in, and you might as well go up there and try to win it,” UW head coach Mark Johnson said at a news conference Sunday. “This opportunity isn’t guaranteed every year. Hopefully we’ll be back there consistently over the years to come, but it takes a lot of hard work.”Wisconsin had to come from behind early. The Lakers jumped on top with a short-handed goal just 9:06 into the first period, beating UW freshman goalie Jessie Vetter.But the Badgers responded thanks to a Bobbi-Jo Slusar slapshot that found the back of the net with Wisconsin on a power play. The shot from the blue line evened the game at 1-1 late in the first period before both teams went into a scoring drought.Vetter and Mercyhurst goalie Laura Hosier held their opponents at bay through regulation and one full 20-minute overtime period. Vetter finished with 37 saves to Hosier’s 34, and the rookie came away with a victory thanks to Hanson’s double-overtime goal.”There was definitely a lot of pressure on my end. One bad move and the game’s over,” Vetter said. “I knew that if we just kept going at them that, because we were playing really well, that it would eventually go in the net.”Midway through the second overtime, junior Kristin Witting fired the puck at the net as Hanson waited in front. The freshman forward got her stick on the puck, deflecting it past the right skate of Hosier, and celebration ensued.Wisconsin will face St. Lawrence — the only team remaining in the tournament that it hasn’t faced this season — Friday after the Saints took care of Minnesota-Duluth in first-round action.”We’re real excited about the opportunity this upcoming weekend,” Johnson said Sunday. “The game last night was very intense and certainly nerve-racking.”The Badgers hope their experience up to this point — including six combined games this season against Minnesota and New Hampshire, the other two teams at the Frozen Four — will carry them to a national championship.”I think the strength of our league and some of our non-conference games have prepared us for this opportunity,” Johnson said. “Obviously, we’ll try to do some homework here and collect some information on our opponent Friday and try to prepare ourselves.”Of course it would be a great testament to the program to get to the national championship game and also win it, but UW has already made a statement in making its first Frozen Four appearance.”Winning a national championship is something that we all want to do, but just being at the Frozen Four is awesome for our program,” Slusar said. “It says a lot about the coaches as well as the players and our program in general. I think this is awesome.””I definitely think we are [getting more attention],” UW goaltender Meghan Horras said. “Half my friends from high school hadn’t even seen me play until this year. Those people are definitely interested and are spreading the word around campus. I think it’s really a positive.”After opting to go with freshman Vetter between the pipes Saturday, Johnson further showed the triumvirate of goalies at his disposal. He will continue to assess the net-minding situation and will determine his starter game by game.”I talk to my two assistants and I’ll talk to my goaltending coach, and ultimately it becomes my decision,” Johnson said. “We have three good, quality goaltenders. You can actually put them all in a hat and pull out one of them and feel comfortable with that individual. We just felt [Vetter] was best suited for the team we were playing and the rink we were playing in.”Whoever is between the pipes this weekend, you can be sure the Badgers will leave everything they have out on the ice as they begin their mission for their first-ever NCAA Championship.”When people leave Minneapolis on Sunday, they’ll only remember the team that won,” Johnson said. “You only remember the team that won it. That’s the mission. We’re a part of it, and why not go win it?” — UWBadgers.com contributed to this report.last_img read more

Houser strong, Brewers stop White Sox 6-game win streak, 1-0

first_img SUBSCRIBE TO US WATCH US LIVE Associated Press Television News Adrian Houser dominated over seven innings and the Milwaukee Brewers beat the White Sox 1-0 Wednesday night to snap Chicago’s six-game win streak.Milwaukee held struggling star Christian Yelich out of the lineup, with the 2018 NL MVP and two-time defending NL batting champion mired in a season-opening 3-for-34 slump.The Brewers stopped Chicago’s best streak since a six-game run in April 2017. The White Sox won the previous two nights at Miller Park.Houser (1-0) simply dazzled on a night when Dallas Keuchel (2-1) was about as good for Chicago. The 27-year-old right-hander gave up five hits and struck out five for the win.Eric Sogard drove in Mark Mathias with a single in the third, and that was all Milwaukee needed.Keuchel struck out eight over seven innings while allowing one run and five hits. The 2015 AL Cy Young Award walked one, but fell to 0-5 in six starts against the Brewers.Chicago’s Danny Mendick had a career-high three of Chicago’s six hits. But with prized rookie Nick Madrigal and slugger Edwin Encarnacion sidelined after both players suffered shoulder injuries Tuesday, the White Sox came up short.Chicago had two on in the sixth after Mendick doubled and Yoan Moncada reached on an infield single. But after hitting a tiebreaking single the previous night, Jose Abreu struck out to end the threat.David Phelps worked the eighth for Milwaukee. Josh Hader retired all three batters in the ninth for his second save in as many chances.TRAINER’S ROOMWhite Sox: Madrigal is headed to the 10-day injured list and might need offseason surgery, GM Rick Hahn said. Hahn was optimistic Madrigal (separated left shoulder) will return by the end of the month, after the rookie was hurt sliding into third on Tuesday. … Encarnación is day to day after leaving Tuesday’s game because of inflammation near his left shoulder, in the joint between his collarbone and sternum. … Hahn said SS Tim Anderson (strained right groin) will begin workouts at the team’s auxiliary site on Thursday. … Hahn is also optimistic LHP Carlos Rodon and RHP Reynaldo Lopez will return from in the next few weeks after being sidelined because of soreness in their pitching shoulders.UP NEXTRHP Josh Lindblom (0-0 4.91 ERA) starts for Milwaukee with LHP Gio González (0-0, 7.36 ERA) getting the ball for Chicago. After two seasons in the Korean Baseball Organization, Lindblom had his first major league start since 2017 cut short because of back spasms when he lasted 3 2/3 innings against Pittsburgh last week. Gonzalez pitched scoreless ball into the fourth against Kansas City in his first start for the White Sox, 16 years after they drafted him.Image credits: AP First Published: 6th August, 2020 08:26 IST Last Updated: 6th August, 2020 08:26 IST Houser Strong, Brewers Stop White Sox 6-game Win Streak, 1-0 Adrian Houser dominated over seven innings and the Milwaukee Brewers beat the White Sox 1-0 Wednesday night to snap Chicago’s six-game win streakcenter_img LIVE TV Written By COMMENT FOLLOW USlast_img read more

Former Prime Minister Owen Arthur Hospitalized

first_imgCMC BRIDGETOWN, Barbados – Former Prime Minister of Barbados, Owen Arthur, has been admitted to hospital with heart complications. Arthur, who was the country’s longest serving Prime Minister, retired from public life in 1998. Earlier this year he was appointed chairman of the finally strapped airline LIAT. According to Barbados Today, the former Prime Minister is in stable condition and is resting at the Queen Elizabeth hospital.last_img