The Washington Post's Sebastian Mallaby is on a crusade to discredit pro-growth or supply-side economic policies. Today's column titled "The Return of Voodoo Economics" makes one wonder about what he doesn't like about 4% growth, under 5% unemployment, housing and the stock market higher, wealth being created and tax revenues at all time highs. I guess he pines for the pre-Voodoo Economics days of the 1970's when the highest marginal tax rate was 70% and the country had anemic growth, high unemployment and a Dow languishing below 1,000.(ht: JPod at Corner)
No man can be a Politician, except he be first an Historian or a Traveller; for except he can see what Must be, or what May be, he is no Politician: Now, if he have no knowledge in story, he cannot tell what hath been; and if he that not been a Traveller, he cannot tell what is: but he that neither knoweth what hath been, nor what is; can never tell what must be, or what may be.
- James Harrington, THE COMMONWEALTH OF OCEANA, 1656
Monday, May 15, 2006
Economic Article for the Day
John McIntyre has this to say today:
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