Archive for November 16th, 2011

The Wrath of Keynes


Wednesday November 16th, 2011   •   Posted by Emily Skarbek at 7:45am PDT   •   4 Comments

James Buchanan and Richard Wagner begin their book Democracy in Deficit by explaining that prior to the absorption of Keynesian economics, the conventional wisdom of Adam Smith prevailed. Adam Smith had observed that: “What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.” This…
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Should Politicians Rely on Millionaires to Fund Government?


Wednesday November 16th, 2011   •   Posted by Craig Eyermann at 5:52am PDT   •   2 Comments

Pretend for a moment that you’ve just been elected to public office and that you now have the power to choose whose income you’re going to tax to pay for all the vital government programs you believe should be supported. If you want to keep those vital government programs on a sound financial footing,…
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