John H. Cochrane
Economist at the Hoover Institution, previously at the University of Chicago's Booth School of Business, and the author of the fiscal theory of the price level. Writes at The Grumpy Economist.
John H. Cochrane did not write this page.
We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.
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Their wordsBusiness only raise prices when accounting losses force them to do so.
↗A note on tariffs from the real worldgrumpy-economist.com 1st of 2 in this piece
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Their wordsI suspect higher prices make people leave more quickly than lower prices make them come.
↗A note on tariffs from the real worldgrumpy-economist.com 2nd of 2 in this piece
- 5 weeks earlier
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Their wordsclimate change though real is not the civilization-threatening disaster pitched at Davos, Paris, and the media, that hugely expensive climate policies do no good
↗Climate turning pointgrumpy-economist.com 1st of 4 in this piece
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Their wordsHe documents just how climate became a political and moral cause, not a scientific or technical one, and thus sowed the seeds of its demise once people figured that out.
↗Climate turning pointgrumpy-economist.com 2nd of 4 in this piece
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Their wordsWell, when the institutions are over and over spectacularly wrong, whether just incompetent, politicized, or mendacious, there is a reason for loss of trust.
↗Climate turning pointgrumpy-economist.com 3rd of 4 in this piece
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Their wordsThe average European and UK voter, once he or she moves on from immigration, will notice how Europe and the UK have made energy unaffordable, stopped its growth
↗Climate turning pointgrumpy-economist.com 4th of 4 in this piece
- 5 months earlier
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Their wordsTariffs are easy: The right answer is unilateral free trade.
↗Tariffs, saving, and investmentgrumpy-economist.com 1st of 6 in this piece
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Our reading
The American trade deficit is foreigners choosing to invest in America, not America being cheated.
Their wordsthis story tells us how an increase in foreign demand to save in the US rather than at home will push up the dollar, and cause the trade deficit, which is in effect how foreigners send us factories which they would rather build here than in their own countries.
↗Tariffs, saving, and investmentgrumpy-economist.com 2nd of 6 in this piece
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Their wordsIn sum, spurred on by the federal government (in many ways), the US borrowed a huge amount from foreigners at very low rates, and went on a consumption binge. Sooner or later we have to pay it back, or we go though the wrenching adjustment of a debt crisis.
↗Tariffs, saving, and investmentgrumpy-economist.com 3rd of 6 in this piece
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Our reading
The binding constraint on building anything in America is permitting and litigation, not money.
Their wordsEndless lawsuits, cost-exploding contracting requirements, decades to get permits, and more bedevil any attempt to invest here.
↗Tariffs, saving, and investmentgrumpy-economist.com 4th of 6 in this piece
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Their wordsBut the spike in interest rates require to do this would be huge. And the trade shock will cause a sharp recession, or worse, putting even more stress on the budget. A debt crisis is likely along the way as the US finds it impossible to roll over debt.
↗Tariffs, saving, and investmentgrumpy-economist.com 5th of 6 in this piece
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Their wordsCure the disease, not the symptoms. Reform taxes to tax consumption, not saving and investment. Stop funneling borrowed money to consumption.
↗Tariffs, saving, and investmentgrumpy-economist.com 6th of 6 in this piece
- 8 months earlier
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Their wordsPrice gouging is wonderful for all the reasons that letting supply equals demand is wonderful. When there is a limited supply, then a sharply higher price directs that supply to those who really need it.
↗Praise for Price-Gouginggrumpy-economist.com 1st of 4 in this piece
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Their wordsHoarding goes with price controls, anticipated empty shelves.
↗Praise for Price-Gouginggrumpy-economist.com 2nd of 4 in this piece
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Their wordsRule number one of economics is, don’t distort prices in order to transfer income.
↗Praise for Price-Gouginggrumpy-economist.com 3rd of 4 in this piece
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Their wordsWe got inflation, but we did not get the devastation that would have been caused by price controls and rationing.
↗Praise for Price-Gouginggrumpy-economist.com 4th of 4 in this piece