The faux stimulus bill will be signed into law today by President Obama. The bad news is that making government bigger will hurt the economy. The good news is that sooner or later there will be a recovery from the current downturn. The real issue is whether long-run growth will be robust. Unfortunately, the evidence strongly suggests that an increased burden of government spending is among the policies that harm long-run economic performance. In a new video, I review the Fraser Institute’s Economic Freedom of the World and highlight the policies that expand freedom and increase prosperity:
Featuring John Allison, President and CEO, Cato Institute; Rep. Kevin Brady (TX-8), Chairman, Joint Economic Committee; and Norbert Michel, Research Fellow in Financial Regulations, Heritage Foundation; moderated by James A. Dorn, Vice President for Monetary Studies and Senior Fellow, Cato Institute.
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In this issue of the Cato Journal, economists Geoffrey Black, D. Allen Dalton, Samia Islam, and Aaron Batteen offer one prominent example of allowing the market to work. Also in this issue, economists Jason E. Taylor and Jerry L. Taylor reexamine the relationship between marginal tax rates and U.S. growth, and Robert Krol looks at bias in CBO and OMB economic forecasts.
Latest CommentaryOnly a robust and open marketplace of ideas can effectively combat lies consistent with the First Amendment.
The 2008-2009 financial crisis and Great Recession have vastly increased the power and scope of the Federal Reserve, and radically changed the financial landscape. This new ebook examines those changes and considers how the links between money, markets, and government may evolve in the future.