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Daily Archive for February 24th, 2011

Stupid Pro-Tax Defenses

Have you ever heard an argument claiming that certain taxes (such as corporate taxes) are too low because the data suggests that those tax revenues as a share of GDP are small, or shrinking, or lower than in some other country? I have. I hear it rather frequently. Does the possibility that revenues are low […]

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An interesting argument came up among students of mine recently. They are talking among themselves about the justification for allowing a closed shop. A closed-shop is perhaps the most objectionable and coercive aspect of unionization. Sure, people ought to have the right to associate and bargain collectively for compensation with an employer, but from that […]

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… when government stops monopolizing the sectors those unions operate in. For starters, end the public school monopoly and I’ll even go to Madison to lobby on behalf of the angry teachers to be allowed to collectively bargain.

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If you subscribe to the New (and old) Keynesian orthodoxy, you would tend to consider people that increase their demand for money balances (i.e. “hoarders”) to be somewhat akin to economic villains. The simplest version of the story is this: if people irrationally stop spending money on consumption goods and services (things that are produced) […]

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