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Anti-Economics from The Economist

When I was younger, folks in the policy community joked that BusinessWeek was the “anti-business business weekly” because its coverage of the economy was just as stale and predictably left wing as what you would find in the pages of Time or Newsweek. Well, perhaps it’s time for The Economist to be known as the […]

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The War against Cash, Part IV

The War against Cash continues. In Part I, we looked at the argument that cash should be banned or restricted so governments could more easily collect additional tax revenue. In Part II, we reviewed the argument that cash should be curtailed so that governments could more easily impose Keynesian-style monetary policy. In Part III, written […]

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Japan’s Slow-Motion Fiscal and Monetary Suicide

Remember Bill Murray’s Groundhog Day, the 1993 comedy classic about a weatherman who experiences the same day over and over again? Well, the same thing is happening in Japan. But instead of a person waking up and reliving the same day, we get politicians pursuing the same failed Keynesian stimulus policies over and over again. […]

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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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Disentangling Keynesian Fiscal Policy

At the risk of understatement, I’m not a fan of Keynesian economics. The disdain is even apparent in the titles of my columns. Notwithstanding Keynesian Fantasies, Redistribution Does Not Stimulate Growth Japan’s Descent into Keynesian Parody Has Keynesian Economics Finally Jumped the Shark? More Keynesian Primitivism from the Congressional Budget Office The Perplexing Durability of […]

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Notwithstanding Keynesian Fantasies, Redistribution Does Not Stimulate Growth

Back in 2010, then-House Speaker Nancy Pelosi actually claimed that paying people not to work would be good for the economy. Wow, that’s almost as bizarre as Paul Krugman’s assertion that war is good for growth. Professor Dorfman of the University of Georgia remembers Pelosi’s surreal moment and cites it in his column in Forbes, […]

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