Wednesday , March 20 2019
Home / Tag Archives: Public Choice Theory

Tag Archives: Public Choice Theory

Wilbur Hamilton Ross

Payday for Public Choice. Because it’s [the tariffs on Chinese goods] spread over thousands and thousands of products, nobody’s going to actually notice it at the end of the day. This quote is from an interview of Commerce Secretary Wilbur Ross on CNBC’s Squawk Box last September. And now here’s Alexander Hamilton in April 1782: No mode [other than tariffs] can be so convenient as a source of revenue to the United States. It is agreed that imposts on trade, when not...

Read More »

Ernie Fitzgerald RIP

David Boaz, over at the Cato Institute, has an obituary today of A. Ernest Fitzgerald, the legendary cost analyst at the Pentagon. Here’s the Washington Post‘s obituary. The Post does an excellent job and so I won’t try to replicate it here. I do recommend reading it so that you can get a feel for how heroic he was, risking his job and President Nixon’s personal wrath to blow the whistle on the cost overruns on the Pentagon’s C-5A program. When I was a summer intern...

Read More »

Cuomo Admits Tax Burden on “the Rich”

Finally, a major Democratic politician admits it. [Governor Andrew] Cuomo said the super-wealthy in New York – accounting for 1 percent of tax filers – end up paying 46 percent of the personal income taxes the state collects each year. “Tax the rich. Tax the rich. Tax the rich. We did that. God forbid the rich leave,” Cuomo said of a mobile group of people who can more easily switch residences to states with lower state and local tax levels. This is from Tom Precious,...

Read More »

CBO As Agenda Setter on Tax Policy

The Case of the Missing Child Tax Credit Reduction In December 2018, the Congressional Budget Office published a 316-page report titled Options for Reducing the Deficit: 2019 to 2028. Those reports are often useful because they can tell you the implications for the deficit of various changes in government spending and in tax law. This report is relatively comprehensive. It examines dozens of ways in which the U.S. government could cut spending and dozens of ways in...

Read More »

The Unpredictability of Deregulation

A closer look, though, at the deregulatory movement of the 1970s offers some grounds for optimism. Neither Carter nor Kennedy was particularly ideologically opposed to regulation. Rather, the deregulation was due to a confluence of circumstances, not all of which could be predicted, but which one can imagine being imitated. The circumstances behind airline deregulation, which I’ll focus on here, were: (1) ideas on the shelf; (2) dissent within the regulatory...

Read More »

Why is the CEA So Effective?

Over the 34 years since I was a senior economist with the Council of Economic Advisers (CEA), I've compared notes with other senior economists who worked there at different times--a few earlier than me, but most later (and often much later) than me. Last week, I attended a seminar at the Naval Postgraduate School. The presenter was Abby Wozniak of the University of Notre Dame. I took her to coffee beforehand...

Read More »

What the 1% and 99% Leave Out

I just attended the first plenary talk at my favorite annual economics meetings: those of the Association for Private Enterprise Education. It was on "Political Capitalism" by my friend Randy Holcombe of Florida State University. In the talk he applied public choice to understanding how various rules and regulations get set. So far, so good. But then he tried to link it up the top 1%/bottom 99% dichotomy....

Read More »

Gordon Tullock Bio

In my retirement, I am catching up on bios of famous economists, typically those who have died and/or those who won the Nobel Prize, for The Concise Encyclopedia of Economics. My latest is of public choice economist Gordon Tullock. Earlier this month, I posted some highlights from the bio....

Read More »

Bio of Gordon Tullock

Guest blogger Art Carden posted yesterday on the late Gordon Tullock. In the next few days, the biography of Gordon Tullock for The Concise Encyclopedia of Economics will be posted on line. Some excerpts follow. First, where Tullock fits in the pantheon of economists in the last half of the 20th century:Gordon Tullock, along with his colleague James M. Buchanan, was a founder of the School of Public...

Read More »

A Balanced View of Trump

I rarely find a balanced view of Trump. I gave one about a month ago. I've now found another. Here's Richard Brookhiser on what William F. Buckley, Jr. thought of Trump:Buckley wrote about Trump the politician once, in an article for Cigar Aficionado, which ran in the spring of 2000 after Trump's brief pursuit of the nomination of the Reform party, Ross Perot's then-rudderless vehicle. Buckley ID'd Trump as...

Read More »