100 posts categorized "Unscientific Economics"

January 23, 2011

Government Money Drives Out Private Capital

The damage that government subsidies to business do the economy is far worse than just the cost to the treasury; government money drives out private investment. Government money stifles innovation; government money destroys jobs. Government's role is to regulate; it can't do that effectively when More...

December 29, 2010

Confessions of a Stimulator – Jobs Don’t Count

""To dig holes in the ground," paid for out of savings, will increase, not only employment, but the real national dividend of useful goods and services," wrote John Maynard Keynes in The General Theory of Employment, Interest, and Money. Of course, since Keynes was an More...

December 27, 2010

My Confessions in the Wall Street Journal – and the Snow

Picture piles of soggy copies of the The Wall Street Journal lying in the snow in New York and Boston. In those soggy piles is my op-ed titled "Confessions of a State Stimulus Czar". But, fortunately, there is also an online edition of the Journal; there, albeit behind More...

December 21, 2010

Good Ideas for Vermont Tax Reform

Lower tax rates spread across a larger base are generally a better way to collect taxes than targeting higher rates at a smaller base. This is one of the principles that has been guiding the work of the Vermont Blue Ribbon Tax Structure Commission ch More...

December 05, 2010

The Good News in the Job Numbers

The US economy is working its way to employment health. Since last November private sector non-farm payrolls have climbed by over a million jobs. Part of the reason this growth hasn't brought the overall unemployment rate down as much as we'd all like to see is that government employment More...

November 15, 2010

Cutting the Deficit – Just Do It!

Congress doesn't have to pay any attention at all to the report of the Deficit Commission, even when it's presented in its final form on December 1 and even assuming it gets the requisite approval of 14 of the 18 commission members. The original plan was to require an up or down vote by C More...

November 12, 2010

The Deficit Reduction Draft Proposal is the Stimulus Program We Need!

If the "Draft Proposal from the National Commission on Fiscal Responsibility and Reform"  were adopted straight from the PowerPoint slides, there More...

November 11, 2010

Confessions of a Stimulator

I was Vermont's "Stimulus czar", a fascinating position to have after retiring from a career as a high-tech entrepreneur. As Chief Recovery Officer, I had an excellent inside view of the working and non-workings of the Stimulus Bill (formally "American Reinvestment and Recover More...

November 03, 2010

Election Analysis: It Was TARP that Boiled the Tea

TARP was initially proposed and passed during the Bush administration; ironically, TARP is the cause of much of the anger that led to yesterday's stunning defeat for Democrats and "second chance" for Republicans. Sure, if he economy had come roaring back, things would've been di More...

October 06, 2010

We’ve Been T*RPed

A man sat next to the window of a bus tearing paper into scraps and throwing them out the window. "Why are you doing that?" asked the woman next to him.

"It keeps the elephants away," he said.

"But I don't see any elephants," she objected.


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