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Richard W. Rahn

Richard W. Rahn

Richard W. Rahn is a senior fellow at the Cato Institute and chairman of the Institute for Global Economic Growth.

Articles by Richard W. Rahn

Illustration on checking the fact-checkers by Alexander Hunter/The Washington Times

How dangerous are political lies?

Ever wonder why politicians and their media friends seem to lie so much more than other people? The simple answer is that the payoff can be large if others believe the lie (winning an election and gaining political and monetary power), and even if the lie is found out, most soon forget with little consequence. But in most other lines of work, lying about job performance (an airline pilot or mechanic, or a food safety inspector or worker) can be fatal. Published July 1, 2024

The end of the energy crisis illustration by Alexander Hunter/The Washington Times

The end of the energy crisis

Be thankful for entrepreneurs, scientists and engineers. They offset many of the sins of the political class and make our futures better. For decades, self-proclaimed environmentalists and their power-seeking political and media allies have been demanding the end of the use of fossil fuels -- all in the name of saving the planet. We were also told we would run out of oil and natural gas, so renewables -- mainly wind and solar power -- were the only hope.d we would run out of oil and natural gas, so renewables -- mainly wind and solar -- were the only hope. Published June 24, 2024

FILE - A hostess walks by the national flags of the United States and China ahead of the bilateral meeting between U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng, at the Guangdong Zhudao Guest House in southern China's Guangdong province, April 6, 2024. Simmering tensions between Beijing and Washington remain the top worry for U.S. companies operating in China, according to a report by the American Chamber of Commerce in China released Tuesday, April 23, 2024. (AP Photo/Andy Wong, Pool, File)

Who is the biggest and richest?

Does China have a larger economy than the U.S.? Is India, Germany or Japan the world's third-largest economic power? How many minutes of labor does it take for the average worker to buy a Big Mac? These may seem like simple and straightforward questions, but the answers are surprisingly complex. Organizations such as the International Monetary Fund, the World Bank, the United Nations and others also have large research staffs searching for better ways to measure the world economy. Published June 17, 2024

Illustration on the impact of debt on the world's economies by Greg Groesch/The Washington Times

Is there any way out of the global debt crisis?

Elon Musk sees a future where no one works other than doing work as a hobby, and AI and robots do all of the work, which would require universally high incomes. Published June 3, 2024

National Public Radio (NPR) government and taxpayer funding illustration by Alexander Hunter/The Washington Times

End NPR ‘money laundering’

The way to stop NPR's taxpayer rape and misinformation machine is to prohibit its affiliates from providing any taxpayer funding for it. Published April 22, 2024

Powell's Inflation Control Illustration by Greg Groesch/The Washington Times

Biden admin has few choices to reduce inflation

Why do the smartest people in the world (at least in their own minds) keep getting surprised? This past week, the most common measure of inflation rose, even though official Washington told us it would fall. Published April 15, 2024

Illustration on the effects of DEI (diversity, equity, and inclusion) policy on society by Alexander Hunter/The Washington Times

The importance of high standards in a DEI-driven culture

Many advocates of diversity, equity and inclusion programs fail to understand that lowering standards or forcing career choices that do not make the best use of everyone's talents makes the problem worse. Published April 8, 2024

Democracy and economics in Greece illustration by Greg Groesch / The Washington Times

Are you part of a Ponzi scheme?

Greece, Argentina, and the old Soviet Union had governments that were Ponzi schemes that eventually went bust. Published March 18, 2024

Illustration on inflation and the devalued dollar by Linas Garsys/The Washington Times

Inflation and the search for stable money

Inflation is a deadly problem, and unpredictable changes in the inflation rate (currency debasement) make it an even more deadly hazard to future economic well-being. Published March 4, 2024