Tyler Cowen correctly explains that even if government borrows at a zero percent real rate of interest the opportunity cost of that borrowing is not zero. Really, it’s not even close.
Matt Ridley explores the long history of opposition to innovation. A slice:
“When a new invention is first propounded,” said William Petty in 1679, “in the beginning every man objects and the poor inventor runs the gauntloop of all petulant wits.” As Calestous Juma, of Harvard Kennedy School, recounts in a fascinating new book called Innovation and Its Enemies, even coffee and margarine were fiercely rejected at first.
My Mercatus Center colleague Veronique de Rugy is rightly critical of Clump’s economic ‘vision.‘
My Mercatus Center colleague Dan Griswold is rightly critical of Clump’s opposition to TPP.
GMU Econ alum Abby Hall Blanco defends payday lending.
