• What, Exactly, Are Negative Externalities?

    Economics textbooks feature a coherent theory of how markets can allocate scarce resources in ways that achieve what is plausibly described as maximum possible human satisfaction.

  • The Uncertain Future of the American Tax Code

    With some provisions of the 2017 tax cuts set to expire in 2025, legislators are scrambling to make sure their preferred cuts are getting an extension. Add to that Donald […]

  • Deficit-to-GDP Ratio Near World War II Levels, CBO Finds

    America’s addiction to deficit spending is out of control. But Congress lacks the courage to defuse this time bomb.