Month: August 2023

The Bear’s Lair: The correct inflation target is Zero

Jason Furman, in the Wall Street Journal, is just the latest former senior financial official (Chairman of the Council of Economic Advisors, 2013-17) to suggest the Fed should raise its inflation target above the current 2%. We know what these people want – a target high enough that rates can be reduced to zero again, […]

The Bear’s Lair: Why Britain lost its industrial dominance

In 1830, Britain was completely economically dominant, the only significant industrial power. Since that time, it has steadily lost its industrial dominance and that relative decline, while to an extent inevitable, was hurried along by a grossly malign approach to policy which persists today. Unless it is reversed, further accelerating decline is ahead.

The Bear’s Lair: Lawfare ruins everybody’s lives

Georgia Power’s Vogtle 3 nuclear power station went into full operation this month, the first new U.S. nuclear station in 30 years. However, its cost, together with its twin Vogtle 4 has ballooned from $14 billion to $30 billion, with a six-year delay in completion due to innumerable harassing lawsuits from environmentalists and others. It […]