The Independent Institute’s Senior Fellow Robert Higgs has been taking on the so-called conventional wisdom that the U.S. economy continues to be in recessionary or near-recessionary conditions because “consumers are not spending”. On Friday, Dr. Higgs issued a challenge to readers of the Independent Institute’s blog The Beacon, as well as commentators and pundits,…
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In “Is the U.S. Becoming a Welfare State?”, Daniel Indiviglio reports in The Atlantic that U.S. government entitlement programs now account for a whopping 35% of wages, up from 26% in 2008. Uncle Sam has been aggressively increasing Americans’ allowance recently. Government entitlement programs have grown to account for 35% of wages, according to…
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In a new article in the Wall Street Journal, Independent Institute Senior Fellow Richard Vedder and Journal Senior Economics Writer Stephen Moore explain why “Higher Taxes Won’t Reduce the Deficit: History shows that when Congress gets more revenue, the pols spend it”: The draft recommendations of the president’s commission on deficit eduction call for…
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Independent Institute Senior Fellow Robert Higgs examines the serious problem of “regime uncertainty” being created by the feasting of federal spending programs starving (crowding out) the private investment needed for recovery from the recession: “Private saving and investment are the heart and soul of the dynamic market process. Together they provide and allocate the…
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Private saving and investment are the heart and soul of the dynamic market process. Together they provide and allocate the resources used to augment the economy�s productive capacity, generate sustained long-run economic growth, and thereby make possible a rising level of living. Economic crises interrupt this process by discouraging investors and causing them to…
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