Raymond C. Niles

Raymond C. Niles is a Senior Fellow the American Institute for Economic Research and Assistant Professor of Economics & Management at DePauw University. He holds a PhD in Economics from George Mason University and an MBA in Finance & Economics from the Leonard N. Stern School of Business at New York University. Prior to embarking on his academic career, Niles worked for more than 15 years on Wall Street as a senior equity research analyst at Citigroup, Schroders, and Goldman Sachs, and as managing partner of a hedge fund investing in energy securities. Niles has published a book chapter and numerous articles in scholarly and popular publications.
What a Dictator Does to an Economy

What a Dictator Does to an Economy

It is not for the president or any politician or regulator to issue dictates telling individuals or businesses where and what and how much to invest, much less what to say

Climate Change and the Power of Scaremongering

Climate Change and the Power of Scaremongering

The New York Times and the scientists it cites in “U.S. Climate Report Warns of Damaged Environment and Shrinking Economy” (11/23/18), either do not understand simple mathematics, or rely on the ignorance of their readers to create a silly scaremongering headline over...

If You Are Warm Right Now, Thank Capitalism

If You Are Warm Right Now, Thank Capitalism

Last night the temperature fell 3 degrees an hour. As I write this, it is negative 10 degrees outside. A “once in a generation” polar vortex has swept into the American Midwest from the Arctic. I am lucky to be alive. It would take me just a couple of hours to die...

Billion Euro Antitrust Fine Against Intel

Billion Euro Antitrust Fine Against Intel

The European antitrust regulator has announced last month that it will fine Intel Corporation $1.44 billion (1.06 billion euros) because it "harmed millions of European consumers by deliberately acting to keep competitors out of the market for computer chips for...

The Case Against Antitrust

The Case Against Antitrust

Antitrust punishes the best companies The list of antitrust targets reads like a Who's Who of American business success stories. Standard Oil Company, Alcoa Aluminum Company, IBM, and Microsoft, are just a few. These companies were pioneers in developing new and...

The Case For Unrestrained Profit

Profit is the engine of production Restraining profit by taxing it or limiting it has the effect of limiting production. Restraining profit means an economy will produce fewer goods, of less variety, and at higher price. Innovation suffers. As a result, to the extent...

The Case for Stock Shorting

What is stock shorting? Stock shorting is a method of profiting from a decline in a stock's price. It is the opposite of investing long, where the investor profits from a rise in the stock's price. "Going long" or hoping for a gain in the stock's price is the more...

As Wall Street Bonuses Go, So Goes the Liberty of All of Us

As Wall Street Bonuses Go, So Goes the Liberty of All of Us

"There will be a time for [Wall Street executives] to make profits and there will be a time for them to get bonuses. Now is not that time." So said President Obama on January 29 to reporters (source: "The Kudlow Report," CNBC). So we receive President Obama's...

Antipathy Towards Mark-to-Market Accounting is Misguided

The antipathy towards mark-to-market accounting is misguided. Mark-to-market is entirely appropriate for goods that trade in liquid markets. Open up your brokerage statement. If you see a notation that your account gained or lost X% of value, that is an application of...

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