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Randall Holcombe Archive

Randall G. Holcombe is Research Fellow at The Independent Institute, DeVoe Moore Professor of Economics at Florida State University, past President of the Public Choice Society, and past President of the Society for the Development of Austrian Economics.
Full Biography and Recent Publications

Power Corrupts »

At one time, President Obama noted similarities between his presidency and Ronald Reagan’s, but these days it seems his administration is more often compared with Nixon’s. The Benghazi coverup, followed by the IRS scandal that targeted right wing groups, followed by the revelation that the Department of Justice seized the telephone records of Associated...
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Stupid Regulations »

I received a postcard in yesterday’s mail. The first paragraph reads: “The City of Tallahassee’s Office of Cross-Connection Control monitors actual or potential backflow via cross connections with non-approved water sources. We are committed to the quality of water delivered to our customers, and your drinking water remains clean and free of contaminants [sic]....
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The President’s Policies: Economic Stimulus for One Industry »

President Obama’s policies have been criticized by some as harming the economy. The “stimulus” policies he has put into place are not working, according to critics. Indeed, the economic recovery has been unusually slow. Here and here are two of the many articles critical of the president’s economic policies. When I Googled “stimulus not...
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Taxing Internet Purchases »

States have been trying to collect sales tax on internet purchases for decades—since the beginning of internet commerce. The holdup has been a 1992 Supreme Court ruling that states cannot require businesses in other states to collect taxes for them. Now, legislation is moving through the U.S. Senate to facilitate internet sellers to collect...
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Legalize Recreational Drugs »

I suspect that most readers of The Beacon tend to favor personal freedoms to a sufficient degree that they will immediately agree with the title of this post. If we want to live in a free country, freedom has to mean that we are free to make choices that others, including others in positions...
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The Sequester: Crisis Bungled »

Robert Higgs’ wonderful book, Crisis and Leviathan, says that government grows in response to crises. A crisis comes along and government responds by expanding, both in size and in scope. After the crisis passes, government shrinks, but not back to its former level. Government grows by ratcheting up in response to crises. Rahm Emanuel,...
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The Next Fiscal Cliff: More Political Theatre »

The fiscal cliff is in the news again. After (mostly) settling the tax side of the fiscal cliff in January, the big deal now is that if an agreement is not reached prior to Friday, March 1, $85 billion in automatic spending cuts will take effect. That’s the dreaded sequester that has everyone so...
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The Federal Reserve’s First Century »

One factor often cited as contributing to the decline of the Roman Empire was the debasement of the currency. In a period of about 150 years following Emperor Nero’s reign (from 54 to 68 AD) the value of Rome’s currency fell by 50%. By 250 AD, 200 years after Nero, the value of Rome’s...
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The 16th Amendment: A Transfer of Power from the States to the Federal Government »

This is the centennial year of the 16th Amendment — the income tax amendment — which was ratified in 1913. While often associated with the growth in government spending, its biggest effect has been to shift the balance of power toward the federal government and away from the states. It is not difficult to...
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Repeal the 17th Amendment »

The 17th Amendment is in its centennial year, having been ratified in 1913. The Amendment mandates the direct election of senators. Prior to its passage, Article I, Section 3 of the Constitution specified, “The Senate of the United States shall be composed of two senators from each state chosen by the Legislature thereof...” The...
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