News
Politico | 1973 Arab oil embargo shaped energy policy
James Schlesinger was sitting at his desk in the Pentagon when the Saudi oil minister’s cable arrived: “According to his Majesty King Faisal,” it read, “I am instructed to cut off all oil supplies to the Sixth Fleet in the Mediterranean and to your forces in Europe.”
FOX Business | New York Manufacturing Hits Lowest Level Since May
The pace of growth in New York state's manufacturing sector slipped this month to its slowest since May, but business optimism stayed strong, a report from the New York Federal Reserve showed on Tuesday.
Econ Comments & Analysis
Real Clear Markets | The Rich Don't Care For the Poor? What a Laugh
The old joke goes: "If you can't win on the merits of your argument, attack your opponent." Thus Republicans in Congress are accused of having bad ideas without the slightest examination of their ideas, but simply based on assertion that Republicans are ignoble. Such ad hominem attacks seem to be the gist of many recent attacks on congressional Republicans in the budget battle with President Obama.
WSJ | Why OPEC No Longer Calls the Shots
Forty years ago, on Oct. 17, 1973, the world experienced its first "oil shock" as Arab exporters declared an embargo on shipments to Western countries. The OPEC embargo was prompted by America's military support for Israel, which was repelling a coordinated surprise attack by Arab countries that had begun on Oct. 6, the sacred Jewish holiday of Yom Kippur.
Washington Times | Government waste stifling growth worldwide
The International Monetary Fund announced this past week that it expects world GDP growth to be only 2.9 percent this year. This is below the 3.2 percent in 2012, which was below the 30-year average of about 3.6 percent, and far below the one-of-the-best recent four-year periods, from 2004 to 2007, when it averaged 5.1 percent. The differences may seem small, but the rate of GDP growth determines how quickly global poverty declines and real incomes rise.
CATO | The Transatlantic Trade and Investment Partnership: A Roadmap for Success
The potential upside of a comprehensive Transatlantic Trade and Investment Partnership agreement to liberalize trade, investment, and regulatory barriers between the United States and the European Union is substantial. The economic benefits are estimated to be in the range of a $125 billion annual boost to GDP on each side of the Atlantic.
