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Notwithstanding Keynesian Fantasies, Redistribution Does Not Stimulate Growth

Back in 2010, then-House Speaker Nancy Pelosi actually claimed that paying people not to work would be good for the economy. Wow, that’s almost as bizarre as Paul Krugman’s assertion that war is good for growth. Professor Dorfman of the University of Georgia remembers Pelosi’s surreal moment and cites it in his column in Forbes, […]

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Three Cheers for Sweatshops, Creating Opportunity and Upward Mobility for the World’s Poor People

From a leftist perspective, making lots of money is not necessarily a bad thing. Rich Hollywood celebrities almost always get a free pass, especially if they embrace statist beliefs. The crowd in Silicon Valley also is generally forgiven for being rich, perhaps because they donate to politicians like Bernie Sanders. Folks on Wall Street, by […]

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Everything You Wanted to Know about the Economics of Redistribution in One Image

Incentives matter. Sometimes that can be explained with wonky discussions of marginal tax rates or welfare traps. But that may not be the best approach when trying to convince someone with no aptitude for economics. So what’s the best way of introducing such concepts to, say, a Bernie Sanders supporter? You can point to the […]

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Trump, Debt, Taxes, and Inflation

I have no idea whether Donald Trump believes in bigger government or smaller government. Higher taxes or lower taxes. More intervention or less. Sometimes he says things I like. Sometimes he says things that irk me. Politicians are infamous for being cagey, but “The Donald” is an entirely different animal. Instead of using weasel words […]

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Was Reaganomics a Success?

Among Republicans and conservatives, Ronald Reagan is widely revered as a great President. From their perspective, he was the candidate who actually made America great again. Fans of the Gipper tell us the economy rebounded, inflation was tamed, incomes rose, unemployment fell, and the Evil Empire was defeated. What’s not to love? That’s an impressive […]

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The Necessary and Valuable Economic Role of Tax Havens

Economists certainly don’t speak with one voice, but there’s a general consensus on two principles of public finance that will lead to a more competitive and prosperous economy. Lower tax rates are more conducive to work and entrepreneurship than higher tax rates. Reducing the tax bias against capital formation will improve growth by increasing saving […]

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