Fiscal Theory

The real question about an American default has always been less a matter of if, and more a matter of how and when.

Unfortunately for us, James Grant is right.

It's vital to debunk promises of "free stuff" but we often concentrate too much on the "free," and not enough on the "stuff."

Secretary of the Treasury, Jack Lew, released the government's audited financial statement and it make Bernie Madoff's books look like Warren Buffet's financial statements!

In our efforts to soak the present rich we have been soaking the future poor.

"Taxes" sounds like a boring subject, but Dan brings great energy and passion to the discussion.

US National Debt now exceeds $18 Trillion with no end in sight. Will we see national default on the debt or hyperinflation?

The most recent job report appears, on the surface, encouraging news for the U. S. economy.

Keynes’s theory of Aggregate Expenditures from the General Theory is examined and criticized. Keynes suggested numerous reasons why his marginal propensity to consume (MPC) might vary across individuals, over different time periods, and might be fundamentally heterogeneous in other respects, but assumed a constant MPC for tractability.

The Free Market 32, no. 10 (October 2014)

It may seem unusual that an economist would talk about culture.