July/August 2009Volume 59, 2009
June 10 2009 by Jim Powell ,
It’s not clear how any of FDR’s 1933 policies could have accounted for a 17 percent increase in GDP, even if they promoted expansion, because they wouldn’t have had time to ripple through the economy. It seems more likely that FDR had the good fortune to come into office near the bottom of the Depression, and enough adjustments in wages, prices, and other factors had occurred that the economy was ready to recover.
June 09 2009 by James C. W. Ahiakpor ,
The multiplier argument is founded on two key assumptions that turn out to be false. First is the notion that savings are not spent but rather are withdrawn from the expenditure stream. The multiplier’s second incorrect premise is that government expenditures are “autonomous”; that is, government spending does not depend on current income.
June 10 2009 by Larissa Price ,
How can Obama and his economic advisers know what kinds of jobs will position our economy to “lead the world” in the long term? Indeed, how can we expect anyone to know what kinds of jobs will be able to offer such a guarantee of wealth and security, considering the enormous complexity of our world?
June 10 2009 by Michael Heberling ,
June 10 2009 by Daniel J. Mitchell ,
According to stereotypes, tax havens are little islands in the Caribbean, and indeed that’s true of some of the world’s premiere offshore centers. But to be more accurate, a tax haven is any jurisdiction that satisfies two criteria: First, its tax laws are attractive to global investors and entrepreneurs, and second, it protects its fiscal sovereignty by choosing not to enforce the bad tax laws of other nations, at least when they are trying to tax economic activity outside their borders. This means, of course, that individuals and businesses from high-tax nations have the option of using those jurisdictions as havens against excessive taxation.
June 10 2009 by Joseph R. Stromberg ,
Widespread landownership long supported a kind of liberal-republican independence. Perhaps we should reexamine the nexus and ask ourselves how, in Donald Davidson’s words, we “let the freehold pass,” and whether that was really for the best.
March 27 2009 by Sheldon Richman ,
June 11 2009 by Burton W. Folsom ,
How could Charles Beard have erred so badly in arguing that the Constitution was written mainly to serve the signers' economic interests? In part Beard missed the mark because he was trying to hit something else—a Progressive agenda for reform, the excuse to transfer wealth from the haves to the have-nots. If the Founders were merely protecting their economic interests, Beard and his progressive friends were justified in supporting the redistribution of wealth.
June 17 2009 by John Stossel ,
The politicians are confident that they can wisely spend trillions of your dollars. The arrogance of the political class is stunning.
June 17 2009 by Walter E. Williams ,
April 09 2009 by Sheldon Richman ,
June 17 2009 by Robert P. Murphy ,
Regardless of what caused the crisis, government efforts to regulate derivatives will only lock in undesirable aspects of the current market and ensure that politically connected players reap artificial gains. It is absurd to ask politicians to promote financial integrity and sound accounting. They are the worst violators of these principles on the planet.