Editor’s note: This is the second of two columns on the economics of tax cuts. The first column is Economists agree: Tax cuts don’t create revenue. Tax cuts don’t raise revenues. Economists identified with both political parties believe that. However,…
Job retraining pays off for society, but is it fair?
Last week’s news that the State of Minnesota has run short of money to retrain jobless workers drew reader criticism of the whole idea behind the program. Most of the comments posted online opposed the training aid, questioning the need…
Economists agree: Tax cuts don’t create revenue
Editor’s note: This is the first of two columns on the economics of tax cuts. The second column is Look at the record: Tax cuts did not boost revenue. Self-paying tax cuts are a popular delusion, except among economists. University…
Defense bargains unlikely in this bilateral monopoly
Real World Economics by Edward D. Lotterman Defense bargains unlikely in this bilateral monopoly My student asked a good question: ‘Does it really make all that much difference if you have only a monopoly for this tanker contract instead of…