Economy

The Fundamentals of Casino Economics

By Carroll Andrew Morse | January 21, 2006 |

Earlier this week, Marc asked why Rhode Island’s casino proponents are taking such a convoluted route towards changing the state constitution to legalize gambling…Instead of writing a clean, concise line or two saying something like, oh, I don’t know….”gambling does not have to be state-operated”, we have this: “Approval of this amendment to the state…

Walter Williams: Attacking Lobbyists is Wrong Battle

By | January 19, 2006 |

Walter Williams, once again, cuts through all the political posturing about the rationale for lobbying reforms in his latest editorial: …Whatever actions Congress might take in the matter of lobbying are going to be just as disappointing in ending influence-peddling as their Bipartisan Campaign Reform Act of 2002, known as the McCain-Feingold bill. Before we…

Tax Reform and the Minimum Wage III

By Carroll Andrew Morse | January 10, 2006 |

Secretary of State candidate Guillaume de Ramel helps advance a point I began making at the end of last week (h/t RI Future)…I write today to strongly support legislation (2006 H 6718) that will incrementally increase the minimum wage in Rhode Island from $6.75 to $7.40 by January 1, 2007. Your committee members and House…

Governor Carcieri and the Politics, Maybe, of Tax Reform

By Carroll Andrew Morse | January 8, 2006 |

Possibilites for tax-reform in this session of the Rhode Island legislature appear strangely muddled. On the one hand, Speaker of the House William Murphy named tax-reform as one of the three highest priorities for the 2006 legislative session…Let it be our New Year’s resolution; let it be our sense of duty to every Rhode Islander…

Economic Eye Candy

By Marc Comtois | December 9, 2005 |

Tim Graham noticed that the Washington Post seems to have a policy of “Good Economic News on D-1, Bad Economic News on A-1” and Brian Wesbury commented last week about the ominipresent pessimism that seems to surround any and all economic news, noting: During a quarter century of analyzing and forecasting the economy, I have…

The Ongoing Squabble Between General Motors & the United Auto Workers Union

By | July 4, 2005 |

This posting continues a discussion about General Motors and the UAW union covered in three previous postings: If You Won’t Deal With Economic Reality, Then It Will Deal With You (includes heavy dose of United Airlines information, too) Outrageous Employee Compensation Liabilities Continue to Haunt General Motors; Will American Taxpayers End Up Paying the Bill?…

Airline Industry: How Government Meddling in Marketplace Costs Taxpayers & Consumers

By | July 4, 2005 | Comments Off on Airline Industry: How Government Meddling in Marketplace Costs Taxpayers & Consumers

Good economic outcomes typically happen when the government does not directly meddle in the marketplace but, instead, acts only to ensure the existence of the rule of law and property rights so third parties can enter into viable contracts as well as count on a level playing field for all participants in the market. Bad…

Economics 101: Never Underestimate the Incentive Power of Marginal Tax Cuts

By | July 4, 2005 |

In the June 13 edition of the Wall Street Journal, Stephen Moore wrote an editorial entitled Real Tax Cuts Have Curves (available for a fee): …The Laffer Curve helped launch the Reaganomics Revolution here at home and a frenzy of tax rate cutting around the globe that continues to this day. The theory is really…

Risk Analysis

By Marc Comtois | June 22, 2005 | Comments Off on Risk Analysis

Anne Applebaum, writing about airport security, also touches on cost-benefit risk analysis. By their own account, federal screeners have intercepted “7 million prohibited items.” But of that number, only 600 were firearms. So, according to the calculations of economist Veronique de Rugy, 99.9 percent of intercepted items were nail scissors, cigarette lighters, penknives and the…

Outrageous Employee Compensation Liabilities Continue to Haunt General Motors; Will American Taxpayers End Up Paying the Bill?

By | June 8, 2005 |

Greg Wallace at What Attitude Problem? highlights this week’s news on General Motors, building on the news previously highlighted here on this blogsite. First, a Washington Post article states: General Motors Corp., the world’s biggest automaker, has offered buyout and early retirement packages to some of its nonunion, salaried workforce in North America as the…

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