Utopia, you are standing in it!

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Originally posted on NEP-DGE Blog:
By Cristina Arellano and Yan Bai This paper constructs a dynamic model in which fiscal restrictions interact with government borrowing and default. The government faces fiscal constraints; it cannot adjust tax rates or impose lump-sum taxes on the private sector, but it can adjust public consumption and foreign debt. When…

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Originally posted on Mostly Economics:
Donald Boudreaux lists the five myths: (5) The idea that government-subsidized health care will lower the cost of health care. (4) The notion that government must have monopoly control over the money supply in order to ensure sound performance of the economy. (3) The belief that large differences among people in monetary incomes…

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In common with New Zealand, Maine found that a number could not complete work requirements because they could not get time off work from their off the books job. Lindsay Mitchell found through Official Information Act requests that one in 10 beneficiaries are working full-time and one in 5 have no intention of looking for …

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Inheriting wealth is not what it used to be in Britain. There are all these upstarts running businesses or working in the City. Source: Caroline Freund and Sarah Oliver, The Origins of the Superrich: The Billionaire Characteristics Database (2016).

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David Henderson reminded me of the superb discussion by Milton Friedman in Capitalism and Freedom of the way in which the marketplace erodes prejudice. Source: Milton Friedman on Trumbo, David Henderson | EconLog | Library of Economics and Liberty.

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