Keynesian economics is a failure. It didn’t work for Hoover and Roosevelt in the 1930s. It didn’t work for Japan in the 1990s. And it didn’t work for Bush or Obama in recent years. No matter where’s it’s been tried, it’s been a flop. So why, whenever there’s a…
Daily Analysis
Will Chile’s Politicians Ruin the Latin Tiger?
here aren’t any nations with pure libertarian economic policy, but there are a handful of jurisdictions that deserve praise, either because they have comparatively low levels of statism or because they have made big strides in the right direction. Hong Kong and…
Let Markets Work, even for Folks Who Want to Buy and Sell Human Organs
Back in 2011, I shared a video making the moral argument that adults should be allowed to buy and sell kidneys. After all, if one person is made better off by selling a kidney and another person is made better off by buying a kidney, why should the rest of us be…
Say It Ain’t So, Doug! Holtz-Eakin’s Misguided Defense of the Export-Import Bank
Former CBO Director and now American Action Forum President Douglas Holtz-Eakin is a solid economist and champion of pro-growth tax policy. But no one is perfect, as illustrated in this case by his misguided defense of the Export-Import bank. Though acknowledging…
Sensible Swiss Voters Crush Proposed Minimum Wage Mandate
I’m beginning to think that people from some nations are smarter and more rational than others. That may explain, for instance, why voters in Estonia support fiscal restraintwhile voters in France foolishly think the gravy train can continue forever. But I’m not…
Obamacare Could Cause Two Million additional Adults to Leave Labor Force and Become Trapped in Government Dependency
What’s the worst economic development during Obama’s reign? Some would say it’s the higher tax burden. Some would say it’s the wasteful faux stimulus. Others would say it’s the fiscal nightmare of Obamacare. And others would say it’s the loss of millions of…
Copy Sweden or Greece? Learning from the Global Economic Experiment
While theory is important, I suspect most people are more likely to be convinced by real-world evidence. This is why I frequently compare nations when arguing that free markets and small government are the best way of generating prosperity. Simply stated, I want…
The Economics of Creative Destruction
In the battle of ideas, supporters of capitalism and economic liberty sometimes face an uphill climb because of a perception of heartlessness. When companies get in trouble, we’re the mean people who don’t want to give bailouts. When workers are laid off, we’re the…
The Growing Threat of a Wealth Tax
Allister Heath, the superb economic writer from London, recently warned that governments are undermining incentives to save. And not just because of high tax rates and double taxation of savings. Allister says people are worried about outright confiscation resulting…
Greedy Politicians Get their Comeuppance as Taxpayers Escape
If you’re a regular reader, you already know I’m a big supporter of tax competition and tax havens. Here’s the premise: Politicians almost always are focused on their next election and this encourages them to pursue policies that are designed to maximize votes and…