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Petit Tyrants

Why Is America Richer than Kazakhstan, and Why Has Estonia Surpassed Croatia?

Even small differences in economic growth make a big difference to living standards over time. I frequently share this chart, which highlights how long it takes to double economic output based on different growth rates. I also use real-world examples to show how some nations become much richer than other nations within just a few […]

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IMF Proposes to Sabotage China’s Economy

For the people of China, there’s good news and bad news. The good news, as illustrated by the chart, is that economic freedom has increased dramatically since 1980. This liberalization has lifted hundreds of millions from abject poverty. The bad news is that China still has a long way to go if it wants to […]

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The Real Beneficiaries of the Death Tax

Who benefits most from the death tax? There are two obvious answers. First, politicians presumably benefit since they get more money to spend. Yes, it’s true that the tax discourages capital formation and may actually lose revenue in the long run, but politicians aren’t exactly famous for thinking past the next election cycle. Second, there […]

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More Anti-Factual Analysis from Paul Krugman

I don’t know whether to be impressed or horrified by Paul Krugman. I’m impressed that he’s always “on message.” No matter what’s happening in America or around the world, he always has some sort of story about why events show the need for bigger government. But I’m horrified that he’s so sloppy with numbers. My […]

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Social Security, Vote Buying, and the Road to Greece

What’s America’s main fiscal policy challenge, particularly in the long run? Most sensible people will agree that our greatest threat is the rising burden of entitlement spending. More specifically, demographic changes and ill-designed programs will combine to dramatically expand the size of the public sector over the next few decades. So it’s really amazing that […]

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Tax Policy, Double Taxation, Tax Reform, and the Proper Definition of Income

With so many Americans currently filled with anxiety about their annual tax forms, this is the time of year that many people wistfully dream about how nice it would be to have a simple and fair flat tax. Unfortunately, there are many obstacles to better tax policy. I’ve previously addressed some of these obstacles. 1. […]

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