Year: 2013

The Bear’s Lair: Bretton Woods: Keynes’ Fall of Singapore

Benn Steil’s excellent new study “The Battle of Bretton Woods” (Princeton, 2013) focuses on the 1944 global monetary conference as a struggle between its two principal protagonists, the U.S. Treasury’s Harry Dexter White, and Britain’s celebrity economist, Maynard Lord Keynes. Even Steil, an American who has considerable sympathy with Keynes, is quite clear that he […]

The Bear’s Lair: The missed Eisenhower opportunity

U.S. lovers of high taxes frequently refer nostalgically to the glories of the Eisenhower years, when the top rate of tax was 91%, claiming their prosperity proves there to be no negative supply-side effects from high income tax rates. But if you look at the data more closely, the U.S. economy of the Eisenhower years […]