It is hard to think of a modern nation that has suffered as great an economic disaster without losing a major war as Argentina. While Argentine households’ standards of living remain well above those in most developing countries, they have…
No room for rent seeking
With the new year, legislatures will soon convene across the country. That means we’ll soon see and read about a phenomenon that economists call “rent seeking.” “Rent seeking” occurs when a group with special interests seeks legislation to give it…
Nonpartisan group could monitor state coffers
(This column is part two in a two-part series. Part one, “Finding a fair tax system,” discusses the history and inadequacies of the current taxation system.) The fiscal problems that many state and local governments are facing are largely due…
Finding a fair tax system
The recession-induced budget shortfalls pummeling various governments illustrate the difficulties in crafting a tax system that is both effective and fair. By trying to make state and local taxes fairer, revenues have become more volatile. And the way taxing and…