Institute for Research in Economic and Fiscal issues

IREF Europe - Institute for Research in Economic and Fiscal issues

Fiscal competition
and economic freedom

Fiscal illusion soon to be swept away by the rigor of the numbers

In the New York Times of March 5th, economist Tyler Cowen gives his opinion on the situation prevailing in the United States - with a debt of $9 trillion (€ 6 435 billion). Citizens, he explains, are victims of a fiscal illusion and politicians know it. To get out of that vicious circle, Cowen suggests that we listen to the wisdom of Buchanan: "Professor Buchanan argued that the real choice was between a religion of budget balance and a rule of illusion.

Seeking an optimal technocratic path is not on the menu." To read more...

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