Economics

Tax Code Complexity Now Costs U.S. Economy up to $1 Trillion Annually

74,608 pages, 2.4 million words. That is the present size of Title 26 of the U.S. Code, i.e. the “Internal Revenue Code.” One would think this would be nearly impossible for an enterprise wielding an army of tax...

Dallas Pension Crisis and False Choices

Dallas's pension problems finally came to a head this past week. After weeks of increasingly dire headlines and the pension equivalent of a run on the bank, the Board of Trustees for the Dallas Police...

Mike Pence Thinks the “Free Market” Is Making You Poor

Vice President-elect Mike Pence has no idea what the term “free market” means, or at least, that is what his most recent statement would suggest. Defending President-elect Trump’s $7 million deal with Carrier, Pence...

A Rising Stock Market Does Not Signal Economic Health

The headlines tell us that the Dow Jones is up around 1,000 points since Donald Trump won the election on November 8th. The conventional wisdom is that this shows how much confidence people have...

The Coming Economic Fascism

The recent efforts by President-elect Donald Trump and Vice-President-elect Mike Pence against Carrier Corp. provide us with a signpost of the economic fascism that lies ahead after both men take office. Whatever might be...

TGIF: Trump, Carrier, and the Corporate State

Should free-market advocates applaud the deal Donald Trump brokered to keep some Carrier jobs from being transferred to Mexico? I believe the right answer is no. A virtue of the market process is precisely its...

Connecting the Dots on the Declining Work Ethic

Connecting the Dots on the Declining Work Ethic: Video Games, Student Debt, Drugs, and Welfare A recent scholarly study, a recent newspaper story, a recent newspaper column, and a recent magazine article seemed at first blush...

The Indian Government’s $100 Billion Heist

News accounts and analyses on other blogs have usefully described and critically assessed the “demonetization” shock that Prime Minister Narendra Modi gave the Indian economy on November 8. Here we emphasize two features of...

6 Million Americans Have Stopped Paying Their Car Loans

There is a lot of talk out there about the auto-loan market right now. Hedge fund manager Jim Chanos has said the auto-lending market should "scare the heck out of everybody," while the auto-lending...

Introduction to Public Choice

Public choice uses economic methods to analyze political decision-making. Too often, both “policy experts” and the general public perceive problems and conclude that the government should do something about them, without evaluating whether government...

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