Category Archives: links to my essays

Deficit Spending and Political Conflict

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In Lenders and Spenders, I recently wrote,

this sets the political system up for conflict and strife in year two, when the burden of paying the debt has to be apportioned. As we have seen, it could be divided any number of ways. However, consider this: Lois is expecting three bushels of corn, based on what she produces and her expectation of having her loan repaid. Meanwhile, Sammy is expecting two bushels of corn, based on what he produces. There are only four bushels of corn available, and there will be a political battle over who gets disappointed the most.

This is one of my favorite essays.

Reviewing John Allison

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I reviewed John A. Allison’s The Financial Crisis and the Free Market Cure for Reasonpapers. I think that one can learn from reading it. I agree with much of his analysis and I share many of his opinions. However, in my judgment the book fails to live up to the standard of argument that I want to encourage. That is, I want people to constantly consider, “What would someone who disagrees with me think about this issue? What might be the unpleasant consequences of the solutions that I am proposing?” etc.