- In the long-run, economic growth comes mostly from increased labour productivity.

- The increases in real US median income since 1980 substantially underestimates how much people in the median household are better off now.

- The recent decline in oil prices will promote higher real GDP in the US.

- Piketty was wrong about inequality.

- Rising market wages are a better explanation for the fall in family size than changes in medical technology or social norms.

- Automation has historically not reduced employment in the US.

- Sustained tax and spending policies that boost consumption at the expense of savings are likely to result in lower long-run living standards.

- Technological change has probably contributed to inequality.

- In the long-run, the rate of inflation is directly proportional to the rate of growth in the money supply.

- In the long-run, the level of output is independent of the money supply (above source).

- In the short-run, monetary policy affects both inflation and output.

- The government should use stabilisation policies to counter-act recessions.

- Monetary and fiscal policymaking should be analysed by rules instead of discretion.*

- Macroeconomic policy is affected by how the private sector
perceives such policies.

- Monetary policy wouldn't benefit from greater Congressional oversight.

- If monetary policy is stabilising the business cycle, there is no need for fiscal stimulus.

- In the long-run, exchange rates reflect purchasing power parity. In the short-run, we have no idea what drives exchange rates.

- Changes to tax rates can affect revenue by altering people's behaviour.

- Had the Scottish voted for independence, they would've likely faced greater macroeconomic instability for many years.

- Due to the Obama stimulus, the unemployment rate was lower at the end of 2010 than it would've been otherwise.

- The benefits of Obama's stimulus will likely end up exceeding its costs.

- Chairman Ben Bernanke will be judged favourably in future economic analysis.

- If the US government fails to make scheduled payments on interest or principle debt, businesses and households will suffer severe economic consequences.

- Bitcoin sucks.

-Policies which decrease the trade deficit will usually not increase the population's welfare.

- Fast-track authority for trade deals allows major trade deals to be concluded more expediently.

- Past major trade deals have benefited most Americans.

- Trade with China makes most Americans better off.

- Free trade is great

- The average US citizen would be better off if large numbers of low-skilled immigrants were allowed to enter the US each year.

- Unless they were somehow compensated, low-skilled US workers would be worse off if large numbers of immigrants were allowed to enter the US each year.

- The average US citizen would be better off if a large number of high-skilled immigrants were allowed to move to the US each year.

- Many US state and local governments understate their pension liabilities.

- Unless US states cut spending, raise taxes or change public-sector pensions over the next two decades, many of them will require severe austerity, a federal bailout or default.

- Raising the minimum wage to $9/hr is worth it.

- Long-run fiscal sustainability will require cuts to Medicaid.

- Loosening certain licensing requirements in US healthcare would benefit consumers.

- Not getting vaccinated imposes a cost upon other individuals. And, the social benefit of mandating vaccinations outweighs the social cost.

- Californians would be better off if all final users in the state paid the same price for water, even if food prices rose and some farms failed.

- There is a social value to having financial institutes which issue liquid liabilities backed by illiquid assets.

- Employers which discriminate in hiring will be at a competitive disadvantage, presuming the customers do not care.

- Uber's surge pricing raises consumer welfare.

- Policies that focus on small business probably aren't useful.

- The US wouldn't make the average US citizen better off if they tried to increase manufacturing employment.