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How to Get Our Savings on the Move Again
Harvard Business Review Friday June 8, 2012 by Edward Conard Some politicians claim that unsystematic loan losses, like the $2 billion loss JP Morgan recently suffered, significantly increase the risk of another financial crisis. They do not. A 30% drop in real estate prices, which systematically threatened all lenders with upwards of a trillion dollars of losses, caused the financial crisis. Subprime mortgage losses turned out to be much smaller than expected —$300 billion, according to the Federal Crisis Inquiry Commission—and non-bank lenders suffered most of those losses (notwithstanding mark-to-market… Read More
How America Can Lead the Global Economy
What I learned at Bain Capital working with Mitt Romney: outsourcing is good and America's future isn't manufacturing, it's ideas. Foreign Policy Magazine By Edward Conard | June 7, 2012 The United States must integrate its economy more fully with China and India to maximize their dependence on the United States for employment, innovation, and growth in order to cement its leadership role. This dependence not only increases the chances of a mutually beneficial alliance on terms more favorable to the United States, but it allows the United States to… Read More
How Roe v. Wade Empowered U.S. Investors
It’s possible, but unlikely, that small differences in culture alone can explain the greater economic success of the U.S. relative to Europe and Japan after the introduction of the Internet. Read More- Ed Conard in Bloomberg: Investment, the Engine of U.S. Prosperity, Is Underrated
Proponents and opponents of income redistribution differ greatly in their explanations for the success of the U.S. Read More 
No Role for Fed in Income Distribution
NEW YORK TIMES by Ed Conard | October 27, 2014 The Federal Reserve has neither the mandate to redistribute wealth nor the tools to do it effectively. Should it try, it will likely fail. Were it to succeed, it would likely lower middle- and working-class incomes. Either way, it would violate one of America’s founding principles — no taxation without representation — as well as its mandate to promote stable prices. A blatant political act like this would justify Congressional intervention and jeopardize the Fed’s critically needed independence. A Federal… Read More
Rescuing Subprime Borrowers Won’t Fix the Economy
Fortune Magazine By Edward Conard | June 11, 2014 In their new book, House of Debt, Atif Mian and Amir Sufi make a persuasive argument that a decline in consumption caused by a drop in home prices slowed the economic recovery more than a weakened banking system. Even if banks were strong, they argue, the demand for loans would still be weak. Mian and Amir Sufi blame a sharp increase in savings by highly levered homeowners for the fall off in consumption and borrowing; as a result, the authors urge taxpayers to… Read More
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