Asymptosis: Always Approaching

Tag: growth

  • Cutting Taxes Creates Growth: Yeah, Right

    Cactus at Angry Bear does yeoman’s work yet again to drive a spike into the heart of voodoo/trickle-down/supply-side Reaganomic ideology, demonstrating what economists have known for decades: Keynes was right. Over the short term–one to three years–raising taxes hurts economic growth. Deficit spending (read: low taxes and high spending) promotes economic growth over the short…

  • Why Prosperity Requires a Welfare State

    I’ve been spending a lot of time lately pondering James Livingston’s insights on how modern, high-productivity, post-industrial economies work, as expressed in two of his posts which I link to and encapsulate here. What finally closed the loop for me was re-reading Ray Kurzweil and others on past trends, and what the future holds: exponential…

  • Pro-Growth Republicans III: Yeah, Right.

    Following up on previous posts here, here, and here, yet some more debunking of this myth (Update: yet more here and here): Various have shot spitballs at this chart, but add it to all the others in previous posts–showing that over the long haul, Democrats deliver prosperity and Republicans don’t–and the notion that Republican policies…

  • “Pro-Growth” Republicans. Debunked. Again. Some More.

    A while back I posted some comparative numbers for postwar economic indicators, Dems versus Pubs. Clear results for the clear-eyed. Brad Delong has even more. Just one here, for your delectation: How dare these people call themselves conservatives? Related posts: Conservative “Intellectual” “Ascendancy” Conservatives Love to Point Out that Personal Incentives Matter Pubs Don’t Cut…

  • Ahh, for European Stability…

    If there’s one thing people would like more of these days, it’s stability. When the economy rockets up one year, then plummets or stagnates the next, it’s bad for everyone–especially those farther down the income scale, who have less recourse in face of national and global events that are completely beyond their control. This got…

  • Yeah, The Economy Rocks Under Dems. But It’s Not Their Fault.

    Greg Mankiw pooh-poohs the data using one of his favorite tactics: Fun with Statistics Princeton economist Alan Blinder says Democratic Presidents are better for economic equality between rich and poor. Chicago economist Casey Mulligan says Republican Presidents are better for economic equality between men and women. My take: These articles are completely persuasive, as long…

  • Tax-Cutting Republicans? Get Real

    Put aside for the moment the current Republican presidential candidate’s tax plan, which imposes higher taxes on 250 million Americans than the Democratic candidate’s plan. The simple fact is–as innumerable sages (at least since Adam Smith) have pointed out–spending is taxing. Three choices (laid out very nicely by Brad DeLong): Raise taxes in the future.…

  • Pro-Growth Republicans? Get Real

    Republicans like to claim that they’re the party of growth and prosperity. Even though all the facts say otherwise. I’ve pointed out repeatedly that when you compare a lot of developed countries over decades, you see that lower taxes and smaller government don’t result in faster growth. Tax cuts are an effective vote-buying political pander…

  • Government: BAD? — Part 3: Taxes and GDP Growth

    Do higher taxes result in slower growth? That’s the basic assertion made by tax-cut advocates. If we lower taxes, we’ll grow faster and all boats–rich and poor–will rise. It’s a great idea. Too bad it’s not true. Few will disagree that in the short term (generally), tax increases impede growth. But over the long term…