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Debunking the Anti-Empirical Case for Bigger Government

Does the economic chaos in Greece suggest that government should be bigger? Is Venezuela’s economic collapse evidence that larger governments boost growth? Should we learn from Italy’s pervasive stagnation that public sectors should be expanded? Most people, looking at this real-world evidence, would quickly answer no to these questions. But Eduardo Porter is not most […]

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More Evidence that Balanced Budget Rules Don’t Work as Well as Spending Caps

If you asked a bunch of Republican politicians for their favorite fiscal policy goals, a balanced budget amendment almost certainly would be high on their list. This is very unfortunate. Not because a balanced budget amendment is bad, per se, but mostly because it is irrelevant. There’s very little evidence that it produces good policy. […]

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The Six Most Important Takeaways from CBO’s New Long-Run Fiscal Forecast

The Congressional Budget Office has just released the 2016 version of its Long-Term Budget Outlook. It’s filled with all sorts of interesting data if you’re a budget wonk (and a bit of sloppy analysis if you’re an economist). If you’re a normal person and don’t want to wade through 118 pages, you’ll be happy to […]

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The Entitlement Disaster that Hillary Clinton and Donald Trump Are Ignoring

I’m like a broken record when it comes to entitlement spending. I’ve explained, ad nauseam, that programs such as Medicare, Medicaid, Obamacare, and Social Security must be reformed. In part, genuine entitlement reform is a good idea because you get better economic performance when you replace tax-and-transfer schemes with private savings and competitive markets. But […]

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The Recipe for Job Creation: Less “Help” from Washington

The American economy is in the doldrums. And has been for most this century thanks to bad policy under both Obama and Bush. So what’s needed to boost growth and create jobs? A new video from Learn Liberty, narrated by Professor Don Boudreaux (who also was the narrator for Learn Liberty’s superb video on free […]

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Japan and the IMF: A Match Made in Keynesian Hell

Japan is the poster child for Keynesian economics. Ever since a bubble popped about 25 years ago, Japanese politician have adopted one so-called stimulus scheme after another. Lots of additional government spending. Plenty of gimmicky tax cuts. All of which were designed according to the Keynesian theory that presumes that governments should borrow money and […]

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