A blog of the NYU Colloquium on Market Institutions and Economic Processes
THE BIG STORY OF SPENDING
by Mario Rizzo
There is an interesting interview with Ed Feulner, the outgoing president of the Heritage Foundation, in the weekend (Dec. 8-9) Wall Street Journal. The interview got me thinking about the progress made in the pro-economic-liberty cause, not only over the years of Heritage, but since, say, 1960. Read the rest of this entry »
by Mario Rizzo
There are at least two kinds of opponents of the welfare state. There are those who think it has gone too far because, for example, it is very expensive, counterproductive, reduces incentives for economic initiative, depresses general economic growth, and may cause an unsustainable debt burden. You can count many economists in this group.
Then there are those who believe that these consequences will follow but also believe that the welfare state is a profoundly immoral institution. It is true that these economic consequences are one of the things that make the welfare state immoral. But that is not all that makes it immoral.
The root of the problem is the welfare state’s bogus liberality. Read the rest of this entry »
