Login

Economic Lesson from Europe for Hillary: Higher Tax Rates Are a Recipe for More Red Ink

We can learn a lot of economic lessons from Europe. Never adopt a VAT unless you want much bigger government. Bigger government means lower living standards. Don’t believe Bernie Sanders about the Nordic nations. Today, we’re going to focus on another lesson, which is that higher taxes lead to more red ink. And let’s hope […]

Continue reading Economic Lesson from Europe for Hillary: Higher Tax Rates Are a Recipe for More Red Ink

Greek Politicians Should Learn from Latvia

I wrote last month that the debt burden in Greece doesn’t preclude economic recovery. After all, both the United States and (especially) the United Kingdom had enormous debt burdens after World War II, yet those record levels of red ink didn’t prevent growth. Climbing out of the debt hole didn’t require anything miraculous. Neither the […]

Continue reading Greek Politicians Should Learn from Latvia

Greece’s Debt Is Sustainable

The conventional wisdom, pushed by the IMF and others, is that Greece’s economy will never recover unless there is substantial debt relief. Translated into English, that means the Greek government should be allowed to break the contracts it made with the people and institutions that lent money to Greece. That may mean a “haircut,” which […]

Continue reading Greece’s Debt Is Sustainable

The Greek Proposal on the Heels of the Referendum on Austerity: A Case of Avoidable Betrayal

Only days after appealing to the will of the people, Greece’s prime minister put forward a proposal to the state’s creditors that contradicts the people’s rejection of further austerity. To be sure, the referendum was nonbinding, and the need for compromise was well justified by the seizing up of the state’s banking system and economy after the “No” vote. Furthermore, one of the virtues of representative as distinct from direct democracy is that officeholders can pursue policies contrary to the immediate will of the people but in line with their best interest. Alexis Tsipras faced immanent economic catastrophe, and so he can reasonably be credited with acting in his constituents’ best interest. Nevertheless, the sting of betrayal (and the larger theoretical point of governmental sovereignty being subordinate to popular sovereignty) warrants attention in this case.


The full essay is at “The Greek Proposal.”

Continue reading The Greek Proposal on the Heels of the Referendum on Austerity: A Case of Avoidable Betrayal

The Greek Proposal on the Heels of the Referendum on Austerity: A Case of Avoidable Betrayal

Only days after appealing to the will of the people, Greece’s prime minister put forward a proposal to the state’s creditors that contradicts the people’s rejection of further austerity. To be sure, the referendum was nonbinding, and the need for compromise was well justified by the seizing up of the state’s banking system and economy after the “No” vote. Furthermore, one of the virtues of representative as distinct from direct democracy is that officeholders can pursue policies contrary to the immediate will of the people but in line with their best interest. Alexis Tsipras faced immanent economic catastrophe, and so he can reasonably be credited with acting in his constituents’ best interest. Nevertheless, the sting of betrayal (and the larger theoretical point of governmental sovereignty being subordinate to popular sovereignty) warrants attention in this case.


The full essay is at “The Greek Proposal.”

Continue reading The Greek Proposal on the Heels of the Referendum on Austerity: A Case of Avoidable Betrayal

EU Preps for War Against the Internet: Decides to Lose Again

Well, this is interesting, although not very surprising, really. Does anybody really think that Europe (especially Germany and France) can compete with the US on a level playing field? No, me neither. The UK, maybe, but nobody else has a chance, and if good sense ever breaks out in the ruling clique in Britain (or […]

Continue reading EU Preps for War Against the Internet: Decides to Lose Again