Tom Duncan

“The Use of Knowledge in Society”

“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never […]

The United States: Deficit Champion

“Evidence that the current Administration is taking a different tack on economic policy was abundant at the recent Group of 20 (G-20) meetings in Toronto. The European governments, led by […]

I, Pencil

“I, Pencil, simple though I appear to be, merit your wonder and awe, a claim I shall attempt to prove. In fact, if you can understand me—no, that’s too much […]

“A Fiscal Theory of Government’s Role in Money”

“As an alternative to market failure explanations, we draw on theory and historical evidence to argue that fiscal considerations explain the roles governments typically play in producing and regulating money. […]

“Why Obamanomics Has Failed”

“The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of […]