The recent appreciation of the Swiss franc provoked opposition based on the conventional view that currency appreciations reduce domestic output. An alternative, supplyside view, however, is that an appreciating currency is evidence that policy changes have improved inflation, investment,...

The public often gauges the strength of the U.S. economy by the performance of the manufacturing sector, especially by changes in manufacturing employment. When such employment declines, as has been the trend for many years, it is often assumed to be evidence of the slow death of U.S....