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The Volcanic Version of Government-Subsidized Moral Hazard

The Volcanic Version of Government-Subsidized Moral Hazard

by Dan Mitchell | Aug 21, 2022 | Big Government, Blogs

I’ve written several times about federally subsidized flood insurance, mostly to complain that it is terrible policy. People are encouraged to build homes in low-lying areas, which then leads to needless destruction during floods. The monetary cost...
IMF Bailouts and Moral Hazard

IMF Bailouts and Moral Hazard

by Dan Mitchell | Jan 24, 2022 | Big Government, Blogs, Bureaucracy

One of the (many) unfortunate tendencies of politicians is that they focus on the short run (i.e., their upcoming reelection battles). Why is this unfortunate? Because there are some policy changes that may be costly in the short run, but they are...
The IMF Should Be Eliminated, not Expanded

The IMF Should Be Eliminated, not Expanded

by Dan Mitchell | Oct 11, 2021 | Big Government, Blogs, Taxation

I’m not a fan of the International Monetary Fund (IMF). Since I work mostly on fiscal issues, I don’t like the fact that the bureaucracy is an avid cheerleader for ever-higher taxes (which is disgustingly hypocritical since IMF...

Curtailing Destructive Subsidies for Flood Insurance

by Dan Mitchell | Oct 2, 2021 | Big Government, Blogs

Unless my memory is more faulty than usual, I don’t think I’ve written a single favorable article about any of Joe Biden’s policies. Which isn’t a surprise considering his knee-jerk embrace of higher taxes and bigger government. But it’s now time to...
State and Local Governments Should Not Get a Bailout – Either from Congress or the Federal Reserve

State and Local Governments Should Not Get a Bailout – Either from Congress or the Federal Reserve

by Dan Mitchell | Nov 11, 2020 | Blogs, Economics, States

For years, public finance experts have been warning about fiscally irresponsibility by state and local governments. Many of those governments have been spending too much money and making overly expensive promises to interest groups such as government...
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