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News
Recent posts and articles from IGEG fellows, advisers, experts and scholars.
Government Spending Jobs Myth Facts show Keynesian model is wrong
Do increases in government spending increase or decrease the number of jobs? Conventional wisdom is they will increase jobs, and a few left-wing economists, such as Paul Krugman of the New York Times, frequently are trotted out by reckless politicians and some in the...
How the Debt Crisis will End When borrowing reaches limit, collapse and new economic order to result
It became increasingly clear last week how the debt crisis will end - and it is not going to be comfortable. The latest phony solution is for the large, “responsible” countries to demand more fiscal responsibility from the smaller and purportedly “less responsible”...
Democracy versus Bureaucracy As welfare state advances, individual liberties diminish
The financial crisis in Europe has resulted in the appointment of new prime ministers in both Greece and Italy, in reality, by the Germans and French, rather than through the ballot box in Greece and Italy. This raises the question, “Is it possible to have both a...
Tooth-Fairy Tax Policy High-tax advocates are either credulous or envious of wealthye
President Obama said last week that we need to increase tax rates on the wealthiest Americans to obtain an extra $100 billion in tax revenue, and he blamed the failure of the supercommittee on the unwillingness of the Republicans to increase tax rates. Do you agree?...
Making Money Disappear Currency not tied to gold or other standard becomes worthless
The major world governments are in the process of destroying the value of the money their citizens hold. On Nov. 16, the Cato Institute held its annual monetary conference. Speakers included high-ranking officials from the Federal Reserve and monetary experts from the...
Rich China, Poor China Reds’ refusal to share prosperity with underclass jeopardizes future
“Air in many China cities remains highly polluted.” No, this is not a headline in the Onion (satirical newspaper), but the front-page lead headline in the Shanghai Daily on Nov. 8. Shanghai is a city of 23 million people, which at first glance appears to be, perhaps,...
Joining the Chorus for Tax Cooperation Democrats’ FATCA would send capital fleeing overseas
How much pressure would it take before you would sell out your intellectual integrity? Those who are given responsibilities for developing and promoting sound public policy are subject to never-ending pressure by those in the political class to serve them rather than...
William Niskanen, Wise and Principled CATO’S chairman leaves behind simple words that could save U.S.economy
If only we had followed his recommendations, the United States and the rest of the world would not be in the present mess. On Oct. 26, the world lost one of its wisest, most competent and principled economists, William Niskanen. Bill did his undergraduate work at...
Abolish Central Banks Monopoly on money means a never-ending cycle of boom and bust
Should the Federal Reserve be abolished as Rep. Ron Paul and others have demanded? The Republican presidential candidates have agreed that they would like to replace Ben S. Bernanke as chairman of the Fed, and many have been equally critical of former Fed Chairman...
When will your time come? Economic deterioration eventually claims political class
“Real per capita incomes stagnate, and it may be many years before we see any recovery,” the headlines say. Yes, it is true that for decades, most Americans experienced a rise in their real income after inflation of a little more than 2 percent per year and that now...
Unthinking Financial Regulators New rules often hurt low-income americans most
Imagine what life would be like if you did not have a bank account and a credit or debit card. It would be much harder to pay your bills, take trips on airlines, which normally require a credit or debit card, and receive payments, just to start. The shocking thing is...
Thoughts on Liberty Beware that necessary compromises of freedom often lead to repression
How free is Turkey? Turkey is almost entirely Muslim but lacks most of the repressive characteristics of many of the Arab Muslim countries. It has a largely free market with a high rate of economic growth. But it ranks in the middle among other countries in terms of...
Obama’s Tax Falsehoods President must know his quest to raise taxes will kill jobs
Mr. President, what is the maximum rate of tax you think any American should be forced to pay? I asked those in the White House press office this question last week, and I have yet to receive an answer. I am willing to bet they will never give me or any other American...
Stealth Wealth Tax Lower interest rates and inflation are eroding Americans’ savings
The stealth wealth tax may be the single-largest tax ever imposed on the American people, yet virtually no one knows about it. What is particularly unconscionable about this tax is that it has been imposed upon the most responsible citizens and the elderly in a most...
Devoid of Reality Obama policies often accomplish the opposite of their intended effects
President Obama’s speech this past week should have been labeled, “Believe what I say, not what I do.” All too much of the speech was devoid of reality. At one point he said, “And I agree there are some rules and regulations that put an unnecessary burden on...
Job-Creation Lesson from the Past When government spending goes up, employment goes down
The Obama administration and others on the left seemed to be stunned when the Bureau of Labor Statistics reported no new net jobs last month. When President Obama makes his “jobs speech,” the American people will see whether he and his advisers have learned anything...