Edward Conard

Top Ten New York Times Bestselling Author

  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
Upside of Inequality Unintended Consequences Oxford

WSJ

Studies Debunk Evidence that Higher Minimum Wages Don’t Hurt Low-skilled Employment

An op-ed in today’s WSJ debunks shoddy evidence used by President Obama to claim that raising minimum wages increases growth. If raising wages truly stimulated demand, then larger increases should produce more growth. The research found the opposite: Of “the 13 states that raised their minimum wage in January [the states used as evidence by the president], those that raised it the most had, on average, lower job growth than did those that raised it the least.” In fact, ... Read More

Marty Feldstein denounces Piketty’s Capital in the 21st Century in the WSJ

Marty Feldstein denounces Piketty’s Capital in the Twenty-First Century in The Wall Street Journal: “His [Piketty’s] thesis rests on … a flawed interpretation of U.S. income tax data …. The … problem with Mr. Piketty’s conclusions about increasing inequality is his use of income tax returns without recognizing the importance of the changes that have occurred in tax rules. … Changes in taxpayer behavior [in reaction to changes in the tax laws since 1980] substantially ... Read More

The Long and the Short of Extending Bond Maturities

The Wall Street Journal By Edward Conard | June 26, 2012 Todd G. Buchholz says the U.S. government should lock in low interest rates by issuing long-term debt ("Washington Should Lock In Low Rates," op-ed, June 20), but it is a bad idea. No surprise that the Fed has wisely done the opposite. Our economy currently suffers from a surplus of price-insensitive, risk-averse short-term savings. With the now-recognized risk of damage from withdrawals, the private sector has ... Read More