A Two-Question Challenge for Supporters of Intervention and Big Government

Dan Mitchell's avatarInternational Liberty

I want to challenge supporters of intervention and big government. Here are two simple questions. I’ll be happy if I can get a semi-reasonable answer to either of them.

1. Can you name a nation that became rich with statist policies?

Before you say Sweden, or even France, note that I asked you to name a nation that became rich during a period when it followed policies of interventionism and big government. Countries in Western Europe became rich during the 1800s and early 1900s when government was very small. Indeed, government spending consumed only about 10 percent of economic output in Western Europe prior to World War I and there was almost no redistribution. That’s more libertarian than what you find today in places such as Hong Kong and Singapore.

Speaking of which, what I’m really asking my leftist friends is that they give me the…

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The first law of left-wing policy making

HT: Heartland Institute

(Not) Making Progress on Foreign Aid

Robin's avatarCherokee Gothic

Nancy Qian has an excellent review paper on foreign aid called Making Progress on Foreign Aid.*  There are a lot of interesting findings in this paper, and it’s definitely worth reading in its entirety, although I disagree a bit with the optimism of the title.

Here are some of the most interesting results in my opinion:

“The literature shows that the primary purpose of aid is often not to alleviate poverty and that out of all of the foreign aid flows, only 1.69% to 5.25% are given to the poorest twenty percent of countries in any given year.”  I knew the percentage was low but I didn’t expect it to be this low.  Important to keep in mind if you’re trying to make any sweeping generalizations about extreme poverty and aid.

Speaking of which, it is almost impossible to draw meaningful conclusions about the effectiveness of aid because it…

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Schumpeter on the short-sightedness of politicians

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The robots are coming, the robots are coming to take my job?!

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The search for Bigfoot shows are demeaning the Animal Planet Channel

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Endangered species for sale, for their own good and ours

Saving the elephants and World Wildlife Day

Another green calls for “Deniers” to be jailed

The Industries Plagued by the Most Uncertainty

Canon calculator at 50

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Another climate summit is upon us

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Inevitable Labour pontification post

There is a scientific consensus. But so what?

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Bailout Bingo

Peter G. Klein's avatarOrganizations and Markets

| Peter Klein |

You’re probably familiar with Buzzword Bingo. Let’s create a version to accompany news reports, editorials, and political speeches on the financial-market and other bailouts. Keep a card with you as you read the newspaper, watch or listen to broadcast news, visit with Barney Frank, or follow the conversation at your next hoity-toity dinner party. Check off each term as you hear or read it and shout “Bingo!” when you have five in a row, vertically, horizontally, or diagonally. Here’s a sample card. Please add suggestions for additional words and phrases in the comments.

Protecting jobsRipple effectNecessary interventionCan’t afford to
do nothing
Life blood of the economy
Corporate greedMarket failureTemporary reliefDecisive actionFrozen markets
Nonpartisan solutionMaintain competitivenessF R E E
S P A C E
Sit idly byDomino effect
No fault of their ownStabilityPublic investmentCongressional authority

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