Antony Davies’ sobering federal debt summary

Lynne Kiesling While we’re at Learn Liberty, and in light of today’s Congressional Republican federal government budget proposal, here’s economist Antony Davies on the implications of our government’s indebtedness. When we covered this in my intro macro class this winter, it was sobering for my 18-20-year old students to realize that they are the people… More Antony Davies’ sobering federal debt summary

Blaming Obama for global equities drops? Really?

Lynne Kiesling Today’s global stock market correction is a humdinger, and is almost certainly the result of multiple factors — expectations of minimal impact of debt ceiling deal, tepid domestic and international manufacturing data, tepid domestic unemployment data, expectations of tepid employment data tomorrow, and what’s really the 800-pound gorilla here, the eurozone debt and… More Blaming Obama for global equities drops? Really?

Debt cynicism

Lynne Kiesling That’s the constant in my assessment of the political theater of the past two weeks — so much sound and fury, and the federal government’s debt rating is still likely to be downgraded. And it deserves to be downgraded, and probably should have had that happen a while ago. I mean, seriously, what… More Debt cynicism

Buchanan & Wagner’s “Democracy in Deficit” and its current applications

Lynne Kiesling Last week I was honored to spend a couple of days at St. Lawrence University with Steve Horwitz and his students and colleagues. In addition to giving a talk on regulation and technological change in the electricity industry, I gave a guest lecture in an environmental economics class and participated in a reading… More Buchanan & Wagner’s “Democracy in Deficit” and its current applications

An economic history lesson on fiscal responsibility

Lynne Kiesling At the Atlantic’s newish business web site, Greg Clark has a very good post on the history of government spending in Britain. He starts in the early post-Magna Carta period: In England, for example, from the Magna Carta of 1215 until the Glorious Revolution of 1689, public debt was always tiny — a… More An economic history lesson on fiscal responsibility