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Japan’s Descent into Keynesian Parody

It’s very hard to be optimistic about Japan. I’ve even referred to the country as a basket case. But my concern is not that the country has been mired in stagnation for the past 25 years. Instead, I’m much more worried about the future. The main problem is that Japan has the usual misguided entitlement […]

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Higher Taxes Are a Recipe for Higher Spending, not Lower Debt

With both Hillary Clinton and Bernie Sanders agitating for higher taxes (and with more than a few Republicans also favoring more revenue because they don’t want to do any heavy lifting to restrain a growing burden of government), it’s time to examine the real-world evidence on what happens when politicians actually do get their hands […]

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Educating Congress and Debunking the White House on the Debt Limit

Whenever there’s a fight over raising the debt limit, the political establishment gets hysterical and makes apocalyptic claims about default and economic crisis. For years, I’ve been arguing that this Chicken-Little rhetoric is absurd. And earlier this week I testified about this issue before the Oversight and Investigations Subcommittee of the House Financial Services Committee. […]

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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 […]

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Greece, Germany, and a Real-World Version of Atlas Shrugged

I suggested a couple of months ago that the economic turmoil in Greece and Venezuela is somewhat akin to a real-life version of Atlas Shrugged. And I’ve also used that analogy when writing about France and Detroit. But I’m probably not doing justice to Ayn Rand’s famous novel because Atlas Shrugged is not just about […]

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A Five-Picture Explanation of the Greek Mess

I’ve shared lots of analysis (both serious and satirical) about the mess in Greece and I feel obliged to comment on the latest agreement for another bailout. But how many times can I write that the Greek government spends too much money and has a punitive tax system (and a crazy regulatory regime, a bloated […]

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