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William A. Niskanen's 2006 paper, “Limiting Government: The Failure of ‘Starve the Beast,'” dealt a severe blow to the notion that tax cuts lead to smaller government. Niskanen argued that (1) government's ability to borrow loosens the fiscal constraints of reduced revenue, and (2) as a...
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Perhaps the most important lesson to take from the Great Depression is that policymakers should follow the Hippocratic Oath: First, do no harm.
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In some developing counties, monetary stability might best be achieved by officially adopting a stable foreign currency.
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