Category Archives: Uncategorized

WSJ: Warren’s Assault on Retiree Wealth

Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy. By Phil Gramm and Mike Solon Sept. 10, 2019 6:41 pm ET Who owns the vast wealth of America? Old folks. According to the Federal Reserve, households headed by people over the age of 55 own 73% of...
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WSJ: Americans Are Richer Than We Think

Our flawed measures of inflation understate wealth and improvements in consumer well-being. By Phil Gramm and John F. Early Aug. 21, 2019 6:59 pm ET What’s the best way to measure economic well-being in a country as large and diverse as America? One crucial tool is price indexes, which allow us to take...
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WSJ: Has the Federal Reserve Lost Its Mojo?

The central bank has less control over market interest rates today than at any time in its history. By Phil Gramm and Thomas R. Saving June 17, 2019 7:17 pm ET When the Federal Open Market Committee’s meeting concluded last month, reporters focused on the federal-funds rate, announcing that it would be held...
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WSJ: The Myth of ‘Wage Stagnation’

Usual measures of inflation don’t count the benefits of better products and more consumer choice. By Phil Gramm and John Early May 17, 2019 4:49 pm ET Perhaps the most common indictment of America’s legendary prosperity is wage stagnation. Bureau of Labor Statistics data show that average hourly earnings of production and nonsupervisory...
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WSJ: Enemies of the Economic Enlightenment

Elizabeth Warren and others seek corporate ‘reforms’ that resemble medieval royal charters. By Phil Gramm and Michael Solon April 15, 2019 6:19 pm ET The 18th-century Enlightenment liberated mind, soul and property, empowering people to think their own thoughts, worship their own gods, and benefit from the fruits of their own labor and...
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WSJ: Tax Reform Unleashed the U.S. Economy

The surge in private investment has brought big returns for households as well as the government. By Phil Gramm and Michael Solon March 4, 2019 6:07 pm ET For a midterm report card on the economy under President Trump, take a look at two recent government reports. The Commerce Department reported Thursday that...
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WSJ: The Fed’s Obama-Era Hangover

By paying banks not to lend, the central bank diminished its ability to control interest rates. By Phil Gramm and Thomas R. Saving Jan. 1, 2019 3:26 pm ET As the Trump economic revival doubled economic-growth rates over the last two years, interest rates, which had fallen in the final two years of...
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WSJ: The Debt Threat to the Economy

As rates rise, paying back government borrowing will consume the credit needed to sustain growth. By Phil Gramm and Michael Solon Dec. 10, 2018 6:54 pm ET The same driving forces have propelled every strong American economic recovery since World War II: a sustained rise in business investment and increases in new-home building....
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WSJ: Government Can’t Rescue the Poor

Federal programs have reduced material poverty at the cost of promoting idleness and dependency. By Phil Gramm and John F. Early Oct. 10, 2018 6:37 pm ET ‘The War on Poverty is not a struggle simply to support people,” declared President Lyndon B. Johnson in 1964. “It is an effort to allow them...
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WSJ: The Myth of American Inequality

Taxes and transfers in the U.S. put its income distribution in line with its large developed peers. By Phil Gramm and John F. Early Aug. 9, 2018 6:51 pm ET America is the world’s most prosperous large country, but critics often attempt to tarnish that title by claiming income is distributed less equally...
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