Browsing All Posts filed under »Economics«

Video: Democrats don’t know how to create jobs

October 5, 2010

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Watch the rambling non-answer given by Richard Blumenthal during the Connecticut debate last night. Linda McMahon directly challenged the lifetime public-sector official to describe how jobs get created, and Blumenthal showed that he clearly has no clue (via Real Clear Politics): We should create jobs by “creative policies”? Bzzzz! Sorry, wrong answer, but thank you […]

Video: Tax hikes not needed to balance budget

October 5, 2010

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Of course they’re not, says Dan Mitchell of the Center for Freedom and Prosperity.  Most obviously, we can simply start cutting vast amounts of federal agencies in jurisdictions outside those granted the federal government by the Constitution.  But as Mitchell puts it, no one in Washington cares about the Constitution anyway.  You know what they […]

Tax hikes to drive a second collapse?

October 5, 2010

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Congress left Washington without addressing the massive tax hikes that will come at the end of the year as the tax-rate reductions of 2001 and 2003 expire.  Absent action on Capitol Hill, those increases will take $4 trillion out of the economy over the next ten years — and even if the lower tax bracket […]

Some liberals starting to see the truth about Keynesianism

August 29, 2010

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The Keynesian theory has fizzled, indeed — just as it did when tried in the 1930s and again in the 1970s. Government seizure of capital for redistribution makes less efficient use of the capital than the market does, for all of the obvious reasons, and a few less obvious. Among the latter, private capital works […]

Econ 101: Moral hazard and the housing bust

August 29, 2010

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Why don’t insurance companies sell policies to auto owners that pay $100,000 if your 1985 Yugo gets totaled? They understand that paying more than the value of a car for its destruction would mean that people would have an incentive to destroy them, a rather obvious rhetorical example of moral hazard.  Moral hazard undermines well-functioning […]

Louisiana Hates Liberty and Free Enterprise

August 15, 2010

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For more than a century, the brothers at Saint Joseph Abbey in St. Benedict, Louisiana, have supported themselves through the making of simple caskets, but that way of life is now under attack.  The state of Louisiana has taken the abbey and its leaders to court for violating laws that require caskets to be sold […]

Social Insecurity

August 15, 2010

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Oh joy, oh joy! It has finally arrived! You wouldn’t believe how excited I was to receive a letter from the Social Security Administration. In the letter, they dutifully showed me how much taxable income I have ever made. (Is it me, or is there something really creepy about that?) They showed me how much […]