I’ve narrated a video that cites Economic Freedom of the World data to explain the five major factors that determine economic performance.
But that video is only six minutes long, so I only skim the surface. For those of you who feel that you’re missing out, you can listen to me pontificate on public policy and growth for more than sixty minutes in this video of a class I taught at the Citadel in South Carolina (and if you’re a glutton for punishment, there’s also nearly an hour of Q&A).
There are two points that are worth some additional attention.
1. In my discussion of regulation, I mention that health and safety rules can actually cause needless deaths by undermining economic performance. I elaborated on this topic when I waded into the election-season debate about whether Obama supporters were right to accuse Romney of causing a worker’s premature death.
2. In my discussion of deficits and debt, I criticize the Congressional Budget Office for assuming that government fiscal balance is the key determinant of economic growth. And since CBO assumes you maximize growth by somehow having large surpluses, the bureaucrats actually argue that higher taxes are good for growth and their analysis implies that the growth-maximizing tax rate is 100 percent.
P.S. If you prefer much shorter doses of Dan Mitchell, you can watch my one-minute videos on tax reform that were produced by the Heartland Institute.
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[…] Everything You Ever Wanted to Know about Economic Policy […]
[…] Everything You Ever Wanted to Know about Economic Policy […]
[…] Everything You Ever Wanted to Know about Economic Policy […]
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[…] I realize it’s presumptuous, but I periodically make grandiose claims that a single column will tell readers “everything” they need to know about a topic. I’ve used that tactic when writing about tax loopholes, entitlements, fiscal policy, bureaucracy (twice), tax evasion, France, Greece, corporate inversions, and economic policy. […]
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Liberals seem to ignore these obvious factors.
[…] P.P.S. On a separate matter, I gave a speech earlier this year while visiting the Citadel in South Carolina. I gave it the grandiose title of “Everything You Ever Wanted to Know about Economic Policy.” […]
I see RightFromYaad is calling me out. Anyway, I’m surprised how weak your examples are. Only one minor country and a single city state? What about Scandinavia, a sub continent that has thrived with high taxes. Even continental Europe has done far better than any libertarian would grant considering their tax rate.
[…] had the gall to share a video yesterday of me lecturing for an hour about the economics of public policy (followed by another hour of […]
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Government is like a condom in that it allows for inflation, halts production, destroys subsequent generations, protects a bunch of pricks, and provides its constituents with a sense of security while they are actually being screwed.
[…] Everything You Ever Wanted to Know about Economic Policy […]
@RightFromYaad, I’ve entered a rebuttal on Robert Nielsen’s page.
… What’s so difficult about understanding the real secret of success? Stop obfuscating – simply emulate the successful! Which means copy Hong Kong and Switzerland.
The Keynesians are putting out their data as well to push for higher corporate taxes! Take a gander at this Dan!: http://robertnielsen21.wordpress.com/2013/06/05/treasure-ireland/