There is nothing new under the sun Modern Monetary Theory, or “MMT”, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The [more…]
As my regular readers know, most of my essays are forays into challenging economic issues. They reflect my own attempts to gain an understanding of their underlying principles. But there’s a lot riding on the [more…]
A tariff is a tax on imports that is used to satisfy a policy goal. Before the federal income tax became law in 1913, the US federal government was funded almost entirely by tariffs and [more…]
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