GMU Econ alum and Institute for Humane Studies President Emily Chamlee-Wright explores the socialist propaganda surrounding the Berlin Wall, and laments the fact that the lessons of Iron Curtain socialism have so quickly been forgotten. A slice:
For those of us who still believe in the liberal concept of human freedom — that is, freedom from coercion, freedom to engage others as they voluntarily choose to engage with us, and the freedom to think for oneself — any attempt to define “freedom” as something entirely different will always ring false.
Here is a difficult truth about liberalism: It does not promise that there will be no problems. But the problem-free social order is not on the menu of options.
James Pethokoukis reminds Elizabeth Warren – and everyone else who is smitten with taxing the wealth of successful entrepreneurs – of Nobel laureate’s William Nordhaus’s important 2004 paper “Schumpeterian Profits in the American Economy: Theory and Measurement.”
Speaking of taxing the wealth of successful entrepreneurs, my intrepid Mercatus Center colleague Veronique de Rugy yesterday did a short radio spot opposite UC-Berkeley economist Gabriel Zucman, the chief architect of Warren’s wealth-tax scheme.
One big difference between immigration now and in the 19th century when the United States had something resembling open borders is that we have a very expensive welfare state. Even Milton Friedman, a strong advocate of economic freedom, stated, “You cannot simultaneously have free immigration and a welfare state.” Caplan’s response to Friedman’s objection is one of the strongest parts of book. He admits that immigrants would be disproportionately low-income but points out that a large part of the federal government’s budget is for defense and it doesn’t cost more to defend a larger population in the United States than it costs to defend a smaller one. Taxing immigrants, therefore, lightens the fiscal burden for those of us who are already here.