From The WSJ, David Malpass and Stephen Moore note the outflow of investment capital from the US.
On Forbes, Brian Domitrovic explains that the weak dollar has shunted trillions of dollars out of productive investment into unproductive assets such as commodities.
At Forbes, Ralph Benko reports on gold standard enthusiasm on the campaign trail.
On The Kudlow Report, John Rutledge discusses the stock market and the economy:
At International Liberty, Cato’s Dan Mitchell provides three simple rules for tax reform.
The WSJ applauds the Greek government’s leading supply sider.
Mr. Samaras is calling for a cut in the Greek corporate income tax to 15% from 24%, along with cuts in the personal income-tax rate and taxes on fuel and tourism. In yesterday’s interview he argues that lower rates would ease Greece’s rampant tax-evasion problem while unleashing the creativity of the private sector. Sounds about right to us. As long as Mr. Samaras is looking for unorthodox ideas, we’d commend to his attention economist Steve Hanke’s proposal, outlined on these pages last year, to sharply cut payroll taxes on employers to reduce labor costs and spur job creation. Greece’s labor costs have soared over the past decade under union pressure, and those uncompetitive wages are a big part of Greece’s sluggish economy.
From Forbes, Lawrence Hunter links the increase in social welfare spending with the decline in net private investment.
At NRO, Mario Loyola notes the folly of soaking the rich.
Also on Kudlow, Stephen Moore and Sen. Rob Portman (OH) discuss the debt and taxes:
TGSN features videos of Lew Lehrman discussing the gold standard.
In The NYT, Bruce Bartlett reveals that Margaret Thatcher’s conservative revolution merely slowed the growth of Britain’s government.
From Bloomberg, Keynesian Brad DeLong argues the US is in a liquidity trap and requires big government spending stimulus to get out.