Raymond C. Niles

Raymond C. Niles is a Senior Fellow the American Institute for Economic Research. He holds a Ph.D. 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.

The Political Cleverness of Envy-Driven Housing Policies

If the supply of new housing is restricted by the government’s monopoly power to initiate physical force against housing producers, the market price of housing will be higher.

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...

The Power of Compounding and the Power of Scaremongering

The Power of Compounding 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”, either do not understand simple mathematics, or rely on the ignorance of their readers to create a silly scaremongering headline over an absurd statistic.

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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