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Just Say No to the Debilitating Drug of Keynesian Stimulus

I’m glad that Donald Trump wants faster growth. The American people shouldn’t have to settle for the kind of anemic economic performance that the nation endured during the Obama years. But does he understand the right recipe for prosperity? That’s an open question. At times, Trump makes Obama-style arguments about the Keynesian elixir of government […]

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The “Austerity” Debate: More Academic Evidence against Big Government

In the world of fiscal policy, there are actually two big debates. One debate revolves around the appropriate size of government in the long run. Folks on the left argue that government spending generates a lot of value and that bigger government is a recipe for more prosperity. Libertarians and their allies, by contrast, point […]

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For Thanksgiving Week, the OECD Proposes a Keynesian Turkey

Earlier this year, I criticized the Organization for Economic Cooperation and Development for endorsing an orgy of Keynesian spending. Did my criticism have an effect? Well, the bureaucrats in Paris just issued a new report that bluntly suggests a reorientation of fiscal policy to achieve more growth. …the global economy remains in a low-growth trap […]

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It’s not Just Campaign Rhetoric, Hillary Clinton Actually Believes Keynesian Economics

Since it’s very likely that Hillary Clinton will be our next President, I’m mentally preparing myself for upcoming fights over her agenda of bigger government and class warfare. But the silver lining to this dark cloud is that I don’t think I’ll be distracted by also having to fight against protectionist policies. My tiny bit […]

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Anti-Economics from The Economist

When I was younger, folks in the policy community joked that BusinessWeek was the “anti-business business weekly” because its coverage of the economy was just as stale and predictably left wing as what you would find in the pages of Time or Newsweek. Well, perhaps it’s time for The Economist to be known as the […]

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The War against Cash, Part IV

The War against Cash continues. In Part I, we looked at the argument that cash should be banned or restricted so governments could more easily collect additional tax revenue. In Part II, we reviewed the argument that cash should be curtailed so that governments could more easily impose Keynesian-style monetary policy. In Part III, written […]

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Japan’s Slow-Motion Fiscal and Monetary Suicide

Remember Bill Murray’s Groundhog Day, the 1993 comedy classic about a weatherman who experiences the same day over and over again? Well, the same thing is happening in Japan. But instead of a person waking up and reliving the same day, we get politicians pursuing the same failed Keynesian stimulus policies over and over again. […]

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Japan and the IMF: A Match Made in Keynesian Hell

Japan is the poster child for Keynesian economics. Ever since a bubble popped about 25 years ago, Japanese politician have adopted one so-called stimulus scheme after another. Lots of additional government spending. Plenty of gimmicky tax cuts. All of which were designed according to the Keynesian theory that presumes that governments should borrow money and […]

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Disentangling Keynesian Fiscal Policy

At the risk of understatement, I’m not a fan of Keynesian economics. The disdain is even apparent in the titles of my columns. Notwithstanding Keynesian Fantasies, Redistribution Does Not Stimulate Growth Japan’s Descent into Keynesian Parody Has Keynesian Economics Finally Jumped the Shark? More Keynesian Primitivism from the Congressional Budget Office The Perplexing Durability of […]

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Notwithstanding Keynesian Fantasies, Redistribution Does Not Stimulate Growth

Back in 2010, then-House Speaker Nancy Pelosi actually claimed that paying people not to work would be good for the economy. Wow, that’s almost as bizarre as Paul Krugman’s assertion that war is good for growth. Professor Dorfman of the University of Georgia remembers Pelosi’s surreal moment and cites it in his column in Forbes, […]

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Japan’s Descent into Keynesian Parody

It’s very hard to be optimistic about Japan. I’ve even referred to the country as a basket case. But my concern is not that the country has been mired in stagnation for the past 25 years. Instead, I’m much more worried about the future. The main problem is that Japan has the usual misguided entitlement […]

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Trudeau-nomics: Squandering Canada’s Fiscal Legacy, Risking Canada’s Economic Progress

In recent weeks, the bureaucrats at both the International Monetary Fund and the Organization for Economic Cooperation and Development have recommended that politicians should have a green light to supposedly stimulate growth by increasing the burden of government spending. Since the lavish (and tax-free) salaries for IMF and OECD bureaucrats are made possible by those […]

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The War against Cash, Part III

Although it doesn’t get nearly as much attention as it warrants, one of the greatest threats to liberty and prosperity is the potential curtailment and elimination of cash. As I’ve previously noted, there are two reasons why statists don’t like cash and instead would prefer all of us to use digital money (under their rules, […]

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The IMF Is the Dumpster Fire of the Global Economy

I thought the Organization for Economic Cooperation and Development had cemented its status as the world’s worst international bureaucracy when it called for a Keynesian spending binge even though the global economy is still suffering from previous schemes for government “stimulus.” But the International Monetary Fund is causing me to reconsider my views. First, some […]

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To Boost a Global Economy Burdened by too much Government, OECD Endorses…an “Urgent” Keynesian Spending Binge

I don’t know whether Keynesian economics is best described as a perpetual motion machine or a Freddy Krueger movie (or perhaps even the man behind the curtain in the Wizard of Oz), but it’s safe to say I’ll be fighting this pernicious theory until my last breath. That’s because evidence doesn’t seem to have any […]

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Has Keynesian Economics Finally Jumped the Shark?

If everyone has a cross to bear in life, mine is the perplexing durability of Keynesian economics. I thought the idea was dead when Keynesians incorrectly said you couldn’t have simultaneously rising inflation and unemployment like we saw in the 1970s. Then I thought the idea was buried even deeper when the Keynesians were wrong […]

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The War against Cash, Part II

I wrote yesterday that governments want to eliminate cash in order to make it easier to squeeze more money from taxpayers. But that’s not the only reason why politicians are interested in banning paper money and coins. They also are worried that paper money inhibits the government’s ability to “stimulate” the economy with artificially low […]

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More Keynesian Primitivism from the Congressional Budget Office

I never watched That ’70s Show, but according to Wikipedia, the comedy program “addressed social issues of the 1970s.” Assuming that’s true, they need a sequel that addresses economic issues of the 1970s. And the star of the program could be the Congressional Budget Office, a Capitol Hill bureaucracy that apparently still believes – notwithstanding […]

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The Economist and New York Times Channel Fox Butterfield on Keynesian Policy

Back in 2010, I described the “Butterfield Effect,” which is a term used to mock clueless journalists for being blind to the real story. A former reporter for the New York Times, Fox Butterfield, became a bit of a laughingstock in the 1990s for publishing a series of articles addressing the supposed quandary of how crime […]

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More Anti-Factual Analysis from Paul Krugman

I don’t know whether to be impressed or horrified by Paul Krugman. I’m impressed that he’s always “on message.” No matter what’s happening in America or around the world, he always has some sort of story about why events show the need for bigger government. But I’m horrified that he’s so sloppy with numbers. My […]

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