by Dan Mitchell | Apr 22, 2021 | Big Government, Blogs, Economics, Government Spending
Way back in 2010, I shared this video explaining how “gross domestic product” and “gross domestic income” are basically the same number, but warning that the former leads to sloppy thinking (including the Keynesian myth that consumer spending drives the economy)....
by Dan Mitchell | Apr 12, 2021 | Blogs, Economics
While debunking OECD and IMF research on inequality, I explained that it’s important to distinguish between income that is earned honestly and loot that is obtained thanks to government cronyism. That’s also the message of this video from the...
by Dan Mitchell | Apr 9, 2021 | Blogs, Economics
In this clip from a recent interview with Gunther Fehlinger, I explore the connection between two very important important economic concepts: Convergence and Wagner’s Law. Before launching into further discussion, let’s nail down two very important definitions....
by Dan Mitchell | Mar 23, 2021 | Big Government, Blogs
I’ve been warning that the United States should not copy Europe’s fiscal policy, largely because living standards are significantly lower in nations with large welfare states. That’s true if you look at average levels of consumption in...
by Dan Mitchell | Mar 22, 2021 | Blogs, Economics, Taxation
As part of a video debate last year (where I also discussed wealth taxation, poverty reduction, and the inadvisability of tax increases), I pontificated on the negative economic impact of class-warfare taxation. To elaborate, I’m trying to help people understand why...
