“The world economy is out of whack,” says David Wessel on the front page of the Wall Street Journal. “There’s a financial grinch lurking,” says William Niekirk of the Chicago Tribune. “In my lifetime we will have gone from the…

I FIRST BEGAN TO SPEAK and write about a “New Era Economy” in 1996. By 1998, the Chicago Tribune had called me “Chicago’s most prominent New Era economist.” But my book on the subject, The New Era of Wealth, was…

President Bush reappointed Alan Greenspan as chairman of the Federal Reserve Board last May. The board is made up of seven members nominated by the president and confirmed by the Senate to fill 14-year terms (even the chairman must fill…

I can’t believe that I am writing about budget deficits again. The Bush Administration’s $520 billion deficit forecast for this year doesn’t bother me, but the deficit phobia and media outcry is getting tiresome. I thought this had been resolved…