Topic: Policy

If the Government Doesn’t Do It, Who Will?

– April 9, 2020

Governments have been providing fire protection, police services, roads, and other public services for pretty much our entire lives. Private, volunteer companies were getting the job done — until political entrepreneurs noticed a way to obtain power and resources for themselves by taking over previously-private volunteer fire departments to create patronage jobs for political allies.


Is this America’s Turning Point?

– April 8, 2020

The real problem is the loss of what Bill White called America’s Fiscal Constitution, a set of borrowing and budget rules first developed by Alexander Hamilton, America’s first Treasury Secretary. The idea was that the federal government should keep a lot of “dry powder” so that it could borrow to fight wars, purchase territory, and respond to shocks.


People Adapt, Thwarting Government Plans

– April 3, 2020

If you derive no other takeaway from the political response to the ongoing COVID-19 pandemic, let it be this: human behavior adapts in real-time to ever-changing expectations of the future.


Beware of Panic Policymaking

– March 20, 2020

Precisely because we are now more willing to let our guard down we must keep a vigilant eye on all these politicians who are now hyperactively working to “protect” us.


Maybe It Will Be the Battle of the Billionaires

– January 27, 2020

After many decades of trying to get payola out of politics, there is still no stopping the reality that a big state creates big stakes for which people are willing to pay.


A Path Toward Getting Rid of Social Security

– December 20, 2019

No, UBA for liberty isn’t another fun holiday idea, it is a call to consider a Universal Basic Asset (UBA) program designed to protect Americans’ liberty and transition away from Social Security. It is nice to see classical liberal thinkers like Mike M …


Five Things No One Asked About the Impeachment — but Should Have

– December 5, 2019

The impeachment proceedings against President Trump have fueled all manner of conjecture regarding the proper discharge of foreign policy, hidden motives behind both Trump’s phone call and the ensuing investigation, and everything from the dead-cat bou …


We Thrive Thanks to Many Andrew Yangs, Not One

– October 31, 2019

Entrepreneurs, it turns out, don’t need to understand entrepreneurship. The same creativity that led Yang to create value in our economy now leads him astray.


Supply Siders Losing Ground in the White House

– August 26, 2019

If the economy falters, supply side policies will be blamed. That would be unfortunate. Supply side hasn’t been tried yet.


The Hidden Reason the Primary Debates Seem Extra Crazy This Year

– August 3, 2019

This is a remarkable case of how a hastily drafted voting rule unintentionally drove the whole Democratic field to a wacky level of ideological extremism that nearly guarantees they will lose a national election. Everyone knows it, most everyone is against it, but no one can stop it.


Trade Wars: A Real-Life Game of Thrones

– May 30, 2019

Unlike marvelously created made-for-television episodes where someone usually emerges victorious, in trade wars, everyone loses.


Are Financial Crises Driven By Supply Or Demand Shocks?

– May 30, 2019

In a new NBER working paper, Felipe Benguria and Alan M. Taylor consider whether financial crises usually stem from the demand or supply side of the market.