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Policy and Government

Heidi Heitkamp says USMCA will strengthen American workers.

Ray Dalio: Why and How Capitalism Needs to Be Reformed (Part 1).

Monetary

Stephen Moore describes himself as a growth hawk and calls secular stagnation “the stupidest idea I’ve ever heard.”

Noah Wall: Stephen Moore is a champion of economic growth.

The Washington Post reports that President Trump plans to nominate the Honorable Herman Cain as a Fed governor. Cain has been a gold-standard advocate, former chairman of the Federal Reserve Bank of Kansas City, and former presidential candidate.

Director Kudlow praises Trump Fed nominee Herman Cain.

At Bloomberg, celebrated econoblogger Tyler explains how opposition to the gold standard (and, thus to the nominations of Stephen Moore and Herman Cain) is vastly overdone and concludes that “At the end of the day, the advocates of the gold standard, and their possible presence on the Federal Reserve Board, are themselves the best argument for … the gold standard.”

The NY Sun mocks the panic over the Fed.

Steve Forbes reminds us what makes money work.

John Tamny, at RCM, challenges gold critics explain what their idea of money is.

The NY Times reports that MMT is finding enthusiastic friends on Wall Street.

At Forbes.com, John Tamny pillories Nicole Gelinas as a modern day puritan for invoking the concept of “easy money.”

Tax

At CATO, Chris Edwards shows the impact of Trump’s tax cuts.

Spending

Lindsay Koshgarian of Foreign Policy in Focus, writing at NationofCharge, claims that 12 cents out of every tax dollar goes to a defense contractor ($225 per taxpayer to Lockheed Martin), with just a nickel going to the troops.

World

Dr. Richard Rahn, in the Washington Times, celebrates how “The remarkable transformation of Eastern Europe from a seemingly hopeless, bankrupt and poverty-ridden area to an island of prosperity and liberty shows that no matter how big the economic disaster is, change and renewal is always possible.”

Neil Irwin at the NY Times reports on Australia’s 28-year economic expansion raising the question as to whether, contra-Schumpeter and Minsky, recessions are actually inevitable or are the result of policy errors.