I’ve written many times about America’s looming fiscal collapse, and I’ve also pontificated about America’s costly and failed welfare state. I even have speculated about when America reaches a tipping point, with too many people riding in the wagon of government dependency (as illustrated bythese famous cartoons, which even have a Danish equivalent). If you read all my posts on these issues, I […]
read more...I’m currently in Asia, where I just finished a series of speeches about economic policy in China and Hong Kong. These two jurisdictions offer very powerful lessons about the importance of economic policy. Hong Kong is supposed to be Nirvana for libertarians. It holds the top spot in the Economic Freedom of the World rankings. It has […]
read more...Back in 2012, I shared a sadly amusing image about how the modern political process has degenerated into two wolves and a sheep voting what to have for lunch. I was making an argument in that column against majoritarianism (and that is a critical issue, as explained in this video), but there’s also a very important moral component […]
read more...Over the past several years, I’ve repeatedly argued that you get more unemployment when the government pays people to be unemployed. But I’m not just relying on theory. I’ve cited both anecdotes and empirical research to bolster my case. You won’t be surprised to learn that many politicians have a different perspective. They say it is compassionate to provide unemployment insurance […]
read more...Back in 2010, I shared a remarkable chart showing how quickly economic output doubles in a fast-growth economy, but it also showed how long it takes for GDP to expand if an economy only grows 1 percent or 2 percent per year. My main message was that nations should follow good policy because: …even modest differences in […]
read more...If some special-interest lobbies give money so that a left-wing group can propose something like a value-added tax to finance bigger government, that’s no surprise. And if a bunch of subsidy recipients donate money to Barack Obama or some other statist politician because they hope for new programs, that’s also standard procedure in DC. I’ll fight these […]
read more...On many occasions, I’ve explained that economic output is a function of how much labor and capital are productively utilized. This is why I relentlessly criticize policies that undermine GDP growth by hindering the use of these “factors of production.” That’s a bit of economic jargon, but it helps to explain why we shouldn’t be discriminating against capital […]
read more...It’s not as sophisticated as Professor Bryan Caplan’s Purity Quiz and it doesn’t have the simple elegance of the World’s Smallest Political Quiz, but at least you don’t need to answer any questions to see where you stand in this Venn Diagram that my intern shared with me. We don’t know who created it, but it’s a clever […]
read more...Sigh. Another day, another grim Obamacare update. Actually, we have two updates on the never-ending disaster of government-run healthcare. Our first story comes from the Washington Times, which reports that the company hired to fix the failed Obamacare website is way behind schedule and way over budget. Fixing the Obamacare website to get it ready to handle a second round of […]
read more...Using a comparison of Jamaica and Singapore, I recently argued that growth should trump inequality. Simply stated, a growing economic pie is much better for poor people that incentive-sapping redistribution programs that trap people in dependency. In other words, nations with smaller government and less intervention produce better results than nations with bloated governments and lots of meddling. You see […]
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