IREF - Institute for Research in Economic and Fiscal issues
Fiscal competition and economic freedom
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...