Economics

TGIF: Trade is a Labor-Saving “Device”

Democratic politics makes savvy people stupid, at least when they act politically. This has long been demonstrated, and it applies both to voters and policymakers. Several things account for it: the impotence of one...

Is the Government’s Budget Equal to GDP?

Memo to news people: tax cuts don't have to be paid for. The money is ours; the government takes it from us by threat of force, i.e., taxation. It's government programs that have to...

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