by Dan Mitchell | Oct 29, 2019 | Blogs, Economics, Free Market
In early September, I wrote about how capital and labor are both necessary to create prosperity. Economists sometimes explain this with lots of jargon, referring to capital and labor as “factors of production” and pointing out how they are “complementary.” In ordinary...
by Dan Mitchell | Oct 28, 2019 | Big Government, Blogs, Economics, Regulations
The World Bank has released its annual report on the Ease of Doing Business. Unsurprisingly, the top spots are dominated by market-oriented jurisdictions, with New Zealand, Singapore, and Hong Kong (at least for now!) winning the gold, silver, and bronze. The United...
by Dan Mitchell | Oct 21, 2019 | Blogs, Economics, Taxation
California is suffering a slow but steady decline. Bad economic policy has made the Golden State less attractive for entrepreneurs, investors, and business owners. Punitive tax laws deserve much of the blame, particularly the 2012 decision to impose a top tax rate of...
by Dan Mitchell | Oct 19, 2019 | Blogs, Economics, Free Market
John Papola has done it again. His video showing a Keynes v. Hayek rap contest was superb, and was followed by an equally enjoyable sequel featuring a boxing match between Keynes and Hayek. Now he has a rap contest about capitalism and socialism featuring Ludwig von...
by Dan Mitchell | Oct 18, 2019 | Blogs, Economics
There’s an entire field of economics called “public choice” that analyzes the (largely perverse) incentive structures of politicians and bureaucrats. But is economic analysis also helpful to understand voting and elections? In the past, I’ve suggested that political...
