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Led by North Carolina and Kansas, a Look at States Moving in the Right Direction

My colleagues Chris Edwards and Nicole Kaeding have just released the biennual Fiscal Policy Report Card on America’s Governors from the Cato Institute. The Report Card is one of the Cato Institute’s most impressive publications since developments on the state level help illustrate the relationship between good fiscal policy and economic performance. The top scores […]

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The Rahn Curve, the Laffer Curve, and Walter Williams

What’s the relationship between the Rahn Curve and the Laffer Curve? For the uninitiated, the Rahn Curve is the common-sense notion that some government is helpful for prosperous markets but too much government is harmful to economic performance. Even libertarians, for instance, will acknowledge that spending on core “public goods” such as police protection and […]

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Slovenia: A Case Study of Missed Opportunities and Economic Decline

I’m a big believer that real-world examples can teach us about the benefits of good fiscal policy (think Hong Kong, Estonia, Canada, and the U.S. under Reagan and Clinton) and the costs of bad fiscal policy (France, Cyprus, Greece, and the U.S. under Bush and Obama). Today, let’s look at another example of bad fiscal […]

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A Two-Question Challenge for Supporters of Intervention and Big Government

I want to challenge supporters of intervention and big government. Here are two simple questions. I’ll be happy if I can get a semi-reasonable answer to either of them. 1. Can you name a nation that became rich with statist policies? Before you say Sweden, or even France, note that I asked you to name […]

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Statist Policy and the Great Depression

It’s difficult to promote good economic policy when some policy makers have a deeply flawed grasp of history. This is why I’ve tried to educate people, for instance, that government intervention bears the blame for the 2008 financial crisis, not capitalism or deregulation. Going back in time, I’ve also explained the truth about “sweatshops” and […]

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Obamacare, Cost Curves, the Ever-Worsening Entitlement Crisis, and the Case for Spending Restraint

I’m very worried about the burden of government spending. Moreover, I’m quite concerned that poorly designed entitlement programs will lead to fiscal disaster. And I’m especially irked that Obama made the problem worse by ramming through yet another misguided and costly health care entitlement. Given this background, you can imagine that I was very interested […]

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