In his recent article in Investor’s Business Daily, “Uncertainty Continues To Depress Jobs,” Robert Higgs (Senior Fellow, The Independent Institute) discusses how the U.S. government’s interventionist and spending policies are prolonging high unemployment by creating a climate of massive economic uncertainty: President Obama, in his State of the Union address, promised to focus on…
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Regime uncertainty has gained increasing recognition as the current economic troubles have persisted with little or no improvement since the economy reached a cyclical trough early in 2009. As described in my 1997 paper, regime uncertainty pertains to “the likelihood that investors� private property rights in their capital and the income it yields will…
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