In a new agreement reported by William Boston in the Wall Street Journal, “Want to Buy a Piece of a Greek Island?”, the government of Greece is taking steps to sell off and privatize a small amount of its enormous holdings of government-owned property. Will this properly begin the process of divesting to the…
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As the government of Ireland undergoes scrutiny and criticism for its poorly mismanaged fiscal house, the media risks missing the primary lesson. Poor public sector incentives drive politicians to enact policies that defy the laws of economics. There is no such thing as a free lunch�not even a Keynesian lunch of government issued corn…
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Politicians have been advocating a value added tax (VAT) for decades, and with the huge projected federal deficits interest in a VAT seems to be increasing lately. Last Spring Paul Volker was suggesting one, and David Theroux recently noted in his blog Paul Krugman�s support. Alice Rivlin and Pete Domenici suggest a 6.5% �debt…
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