Author: Craig Newmark

Thomas Sowell eviscerates one of the Left’s most cherished fables. “Trickle down” is not an economic theory. No such theory has been found in even the most voluminous and learned histories of economic theories, including J.A. Schumpeter’s monumental 1,260-page “History of Economic Analysis.” Yet this nonexistent theory has become the object of denunciations from the […]

From a writer at New Geography: “But beyond those philosophically opposed to HSR, some : high speed rail advocates have done themselves no favors either. They’ve resolutely backed pretty much any and every rail project regardless of whether it is potentially useful or an outright boondoggle. They’ve engaged in false advertising by labeling 110 MPH peak […]

Two economists summarize their: important recent research. Our empirical research: on the history of financial crises and the relationship between growth and public liabilities supports the view that current debt trajectories are a risk to long-term growth and stability, with many advanced economies already reaching or exceeding the important marker of 90 percent of GDP. . . […]

Reluctant testimony it seems, but testimony nonetheless. At Walmart, we found a surprisingly large lawn & garden section, including a grill selection rivaling that at Home Depot and Lowe’s.:  I was previously unaware Walmart dabbled in pavers and masonry block, but apparently, they do.:  When people say that you can literally get anything at Walmart, […]

Greg Mankiw argues and I agree with him 100%: My advice: Amend your line in the sand to NO INCREASES IN TAX RATES.:  Be willing to give up on tax expenditures if we simultaneously make current tax rates permanent–or, better yet, if we: lower rates, as the Bowles-Simpson commission suggested.

“A most impressive feature of capitalism that is highlighted in the McDonald’s case is how its institutions so beautifully adapt themselves to change. The drift is always upward: new and improved. And this drift is like a wind that never stops blowing unless it is stopped by the organized force of the state.”

Unintended effects from government action, part 1,356,732: Myth 1: The Alternative Minimum Tax targets millionaires. Fact 1: While the Alternative Minimum Tax was originally created to target millionaires, today it falls most heavily on non-millionaires. Cross-posted from Newmark’s Door.