If everyone has a cross to bear in life, mine is the perplexing durability of Keynesian economics. I thought the idea was dead when Keynesians incorrectly said you couldn’t have simultaneously rising inflation and unemployment like we saw in the 1970s. Then I thought the idea was buried even deeper when the Keynesians were wrong […]
Continue reading Has Keynesian Economics Finally Jumped the Shark?
The Congressional Budget Office has just released its new 10-year fiscal forecast and the numbers are getting worse. Most people are focusing on the fact that the deficit is rising rather than falling and that annual government borrowing will again climb above $1 trillion by 2022. This isn’t good news, of course, but it’s a […]
Continue reading The Simple Solution to America’s Deteriorating Fiscal Outlook
This isn’t intentional, but there’s been a European theme to this week’s posts. I wrote yesterday about economic chaos in France, and the previous day I wrote about the grim consequences of Italian statism. Today, we’re going to look at Greece. In the past, I’ve explained that Greece is special, albeit in a bad way. […]
Continue reading Will the Last Productive Person in Greece Please Turn off the Lights When You Leave?
When I wrote back in 2012 that France was committing fiscal suicide, I should have guessed that President Hollande would get impatient and push for even more statism. Sure enough, the BBC reports that France’s President has a new plan. The ostensible goal is to reduce unemployment, but the practical effect is to expand the […]
Continue reading French President Approaches Cliff, Steps on Accelerator
I’ve written about how statist policies help the rich and hurt the poor. And I’ve also pontificated on the destructive and foolish subsidies dispensed by the execrable Department of Agriculture. Now let’s mix those two issues (though I hasten to add that this isn’t like math…two negatives don’t make a positive. Here’s an infographic from […]
Continue reading More Poor-to-Rich Redistribution from the Wacky World of Washington
What were the most noteworthy events from 2015? Regarding bad news, there’s unfortunately a lot of competition. But if I’m forced to pick the very worst developments, here’s my list. Resuscitation of the Export-Import Bank – I did a premature victory dance last year when I celebrated the expiration of the Export-Import Bank’s authority. I […]
Continue reading The Best and Worst Developments of 2015