Tag: Free Market

Why Subsidize the U.S. Department of Education When We Could Be Funding ESAs Ourselves? »

Last month marked the 38th anniversary of the establishment of the U.S. Department of Education. Proponents insisted that elevating the Office of Education to a Cabinet-level department would improve federal education spending efficiency as well as student achievement. Opponents countered that there is scant (if any) evidence that increasing federal control over education would...
Read More »

Fred S. McChesney, Rest in Peace »

I first met Fred S. McChesney (1948–2017) at the Federal Trade Commission in the early 1980s. Ronald Reagan had just been elected to the presidency and had appointed James C. Miller III as the FTC’s chairman. Robert D. Tollison had been confirmed as the Director of the FTC’s Bureau of Economics. I am not...
Read More »

The Core of the Classical Liberal Tradition: Adam Smith’s Concept of Justice »

One of the best-known quotations from Adam Smith’s The Wealth of Nations (1776) defines natural liberty: “Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of...
Read More »

A Unilateral Free Trade Policy Would Be Hugely Beneficial for Brexit Britain »

My new monograph, A Trade Policy for a Brexited Britain, was published on Friday by the Institute of Economic Affairs. Here is a brief synopsis: Adam Smith once observed that “Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to only so far...
Read More »

Tax Reform IV: Corporate Tax Reform »

The United States has one of the highest corporate income tax rates in the world. While both the Obama administration and Trump administration have criticized American companies for moving operations off-shore, and considered a variety of policies for punishing them if they do, a better approach would be to design policies that make it...
Read More »

Tax Reform III: Tax Employer Health Care Benefits; Offer a Tax Credit to Health Insurance Purchasers »

In an earlier blog post I suggested eliminating all personal tax deductions, with a possible exception related to health care. One of the well-publicized problems with the American health care system is that employer-provided health insurance is not taxed, pushing us to a system in which people get health insurance from their employers. A...
Read More »

The School Choice Deplorables »

Are you now, or have you ever been, a supporter of the right of parents to choose their children’s schools? Then you’re a school choice deplorable. At least, that’s what some school choice opponents want us to believe. It’s no secret that President Trump and Education Secretary Betsy DeVos are long-time school choice supporters....
Read More »

Will the Workday Shrink to Four Hours? »

Jack Ma, the billionaire founder of Chinese firm Alibaba, anticipates that in 30 years the workday will shrink to four hours. He cites as evidence the continual decline in the number of works hours of the average worker. But while average hours worked has declined, some people work 60 to 70 hours a week...
Read More »

Trump Looks Forward to 4% GDP Growth »

I take everything Donald Trump says with a grain of salt, including his claim that he believes the US can boost its GDP growth to 4% or even 5% a year. He’s quoted here saying he really believes it, but I hope it’s just more of his bluster. Why would he think GDP could...
Read More »

The Fed’s Inflation Fixation »

The Federal Reserve has an inflation target of 2% per year. That target appears to be a minimum: They are concerned when inflation falls below their target but appear to be content with inflation above 2%. The current inflation rate from March 2016 to March 2017, measured by the Consumer Price Index, is 2.4%....
Read More »

  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org