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Richard W. Rahn

Richard W. Rahn

rahn123@washingtontimes.com

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

FILE - In this March 20, 2020, file photo, a police officer walks across an empty Seventh Avenue in a sparsely populated Times Square due to COVID-19 concerns in New York. Los Angeles is half the size of New York City but has a disproportionately small fraction of the coronavirus cases and deaths as the nation's largest city. The same goes for California when compared with New York state as a whole, which is the current epicenter of the outbreak in the U.S. (AP Photo/John Minchillo, File)

Stop the COVID-19 shutdown madness

How do you like being under house arrest? A bit of an overstatement -- perhaps -- but not by much. How much longer are you willing to endure it? The COVID-19 crisis has caused government -- federal, state and local -- to strip away many basic liberties.

April 13, 2020
Plane Crutch Illustration by Greg Groesch/The Washington Times

Government ownership of airlines a really bad idea

One of the bad ideas that is now being floated is for the federal government to take an equity stake in the airlines and some other businesses in exchange for aid, to offset the losses from the COVID-19 virus.

April 6, 2020
Specialist Dilip Patel, left, works at his post on the floor of the New York Stock Exchange, Monday, March 9, 2020. The Dow Jones Industrial Average sank 7.8%, its steepest drop since the financial crisis of 2008, as a free-fall in oil prices and worsening fears of fallout from the spreading coronavirus outbreak seize markets. (AP Photo/Richard Drew)

Fears of negative impact on U.S. GDP due to coronavirus overstated

Some have argued that the trade disruption caused by the coronavirus puts the U.S. economy in grave danger. These fears are overstated. Exports are about 11.7 percent of U.S. GDP, and imports are equal to about 14.5 percent of GDP, and much of this trade (goods and services) is likely to be little affected by the virus.

March 9, 2020
Illustration on anchoring the dollar to gold by Alexander Hunter/The Washington Times

Why the Federal Reserve needs Trump nominee Judy Shelton

President Trump has nominated distinguished economist, Judy Shelton, to be a member of the Federal Reserve's (Fed) seven-person board of governors. Mrs. Shelton is under attack for her alleged "unorthodox views." Elizabeth Warren -- who advocates adding trillions of dollars in new federal spending, huge tax increases and massive new regulations -- had the gall to call Mrs. Shelton radical.

February 10, 2020
In this Feb. 2, 2020, file photo, a military officer wearing a protective suit gives instructions to evacuees from Wuhan, China, as they travel to a hospital after their arrival at a military base in Wroclaw, Poland. (AP Photo/Arek Rataj, File)

The economic consequences of the coronavirus

The stock market (Dow 30) dropped by more than 600 points this past Friday -- allegedly because of greater concerns about the coronavirus outbreak which is centered in China. How big of an economic impact is it likely to have in the United States?

February 3, 2020
Currency King Illustration by Greg Groesch/The Washington Times

U.S. dollar could be dethroned internationally by digital currency

Why are most internationally traded commodities, like oil, corn and aluminum, priced in U.S. dollars (USD), and why is most foreign trade invoiced in dollars? The USD is a better store of value, unit of account, and medium of exchange (that is, money) than any other major country's currency.

January 27, 2020
Illustration by Linas Garsys

U.S. economy better than ever

2019 was a very good year, despite a dysfunctional Congress. A few weeks ago, a friend said she had noticed that clothing was getting less and less expensive and, in fact, many items seemed to be getting less expensive.

December 30, 2019
Literate Voter Illustration by Linas Garsys/The Washington Times

Should citizens pass an American history test to vote?

There are few things that will have more impact on economic well-being and liberties than the votes and actions of those who serve in elected office. If collectively the citizens make the wrong decision at the ballot box, it can mean disaster.

December 9, 2019
Wealth Redistribution Illustration by Greg Groesch/The Washington Times

Declining consumption inequality

Listening to the debates among the Democrats running for president, there is much hand wringing about the alleged increase in income and wealth inequality. But is it true?

December 2, 2019