When I wrote last week about renewed bipartisan interest in a destructive carbon tax, I noted that support from big government proponents would be forthcoming due to the prospect of putting more money in the hands of politicians. Here’s what I said: The motives…
Daily Analysis
Assuming You’re Intellectually Lazy, there’s a Very Strong Argument for Command-and-Control Regulation
Even though I’m a fiscal policy economist, I often get hit with questions on other topics. This frequently happens when I’m overseas and I’m put in the position of defending every nuance of free market policy. I don’t mind pontificating on other issues, but I get…
America Isn’t (Yet) a Divided Nation of “Makers” and “Takers,” but some on the Left Are Pushing Dependency as a Political Strategy
I’m part of a just-posted online Debate Club sponsored by U.S. News & World Report which asks “Is the United States a Nation of ‘Makers and Takers?’” My contribution to the discussion is basically a reworked version of what I wrote last week about Romney and the…
Lucky French Taxpayers: All Hail Francois the Merciful!
I realize it’s wrong, but I can’t help cheering for France’s socialist president. Francois Hollande seems determined to raise every tax, expand every program, and augment every bit of red tape that afflicts the French economy. I fully expect this to end poorly, but at…
Debunking Myth after Myth in Financial Times Column by Former Clinton White House Economist
Even though I have remarked on many occasions that the burden of government was reduced during the Clinton years, that doesn’t mean Bill Clinton was in favor of smaller government. And it definitely doesn’t mean that his appointees believed in economic liberty….
Room for Defense Cuts
Pending sequestration cuts are hanging in the air over DC, with politicians squirming under the prospect of actually putting a limit of any kind on spending. There’s a particular debate raging over the propriety of the spending cuts set to hit defense and what…
Middle-Class and Poor People Shouldn’t Subsidize the Mortgages of Rich People
I don’t like coercive redistribution. But I really hate redistribution from ordinary people to rich and powerful vested interests, and I even developed an “ethical bleeding heart” rule to express my disdain for this approach. Especially since programs that…
For Financial Markets, Regulation Is the Problem, not the Solution
This past Monday, I took part in a panel discussion about the financial crisis at the European Resource Bank in Brussels. One of my main points was that people in private markets always make mistakes, but that this is a healthy and necessary process so long as there…
An Invaluable Economic History Lesson from Thomas Sowell: Politicians Should Only “Do Something” If that Means Doing Less
The great Ronald Reagan famously said (and I am paraphrasing, since I do not remember the exact phrase) that the most dangerous words in the English language were “I am from Washington and I am here to help you.” Those are very wise words, especially when we think of…
A Picture Says a Thousand Words: President Obama’s Dismal Failure on Jobs
If it wasn’t for the fact that so many people are suffering and being seduced into empty lives of government dependency (symbolized by Julia, the world’s most disappointing daughter), I might feel sorry for President Obama. He promised unemployment would never climb…