Tag: government
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More American Exceptionalism: Government Revenues
Let’s adopt the unpresuming assumptions that: 1. A prosperous, modern economy needs a certain amount of government (taxing, spending) to become and remain prosperous. And that government has to be paid for via taxes and other government revenues. Simple enough. 2. Either too much or too little government in a country results in a poor…
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Milton Friedman Caused The Great Depression
Yes, yes, I know he was only 17 when the market crashed. But still. As Friedman pointed out quite accurately, inept (excessively tight) monetary policy caused the downturn to go much deeper and last much longer than it should have. Pretty much everyone will stipulate to that. And hence–here's his logical non sequitur–government and the…