Once upon a time, John Stuart Mill could write these words truthfully (“Of the Influence of Consumption on Production,” 1844):
It is no longer supposed that you benefit the producer by taking his money, provided you give it to him again in exchange for his goods.
He was talking, of course, about government tax-transfer programs intended to stimulate employment by subsidizing consumption. We cannot say this today.
Recent
The U.S. Court of Appeals' rejection last week of the Trump administration's global "emergency" tariff program was a welcome affirmation of the separation-of-powers doctrine. Next stop: the U.S. Supreme Court. I'm keeping my fingers crossed for a 9-0 ruling that Trump...
Gord is back to discuss the problems being exposed in the trucking industry.
With U.S. gross debt now at a staggering $37 trillion—roughly equivalent to the combined debt of all other major advanced economies—Washington is trapped in a fiscal doom loop of its own making. Decades of bipartisan overspending have pushed the nation to a point...
