QT: Tyler Cowen on Republican Confusion

Tyler Cowen argues persuasively that Republican no-tax ideology (or should we say zealotry) will lead to higher taxes and a worse fiscal position for the U.S. government. Ironic, yes, like a lot in life. Getting through it requires thought, which the Republicans are woefully short of. So sad.

Tyler Cowen on Fiscal Irresponsibility

Speaking of Tyler Cowen, his article in the NYT today is interesting. First, I agree with him. Two, he cites James Buchanan, someone I vaguely remember hearing about in an undergraduate course on taxation and government finance (and in which I got a B grade and I'm not sure at all what I learned). Anyway, since then Buchanan won a Nobel in economics, and his work on "public choice" seems very interesting. But back to the point: do democracies spend too much--almost always? I does seem that Keynes's insight has been badly abused. We should only run deficits in times of real need, not endemically, as we have mostly since WWII. However, to cut now is perhaps to risk jolting a delicate economy with a shock that it can't very well withstand. In fact, to hell with "the economy". Remember, we should really be concerned about people, living human beings will families to feed and bills to pay. I think that we have to make some very tough choices indeed.

Cowen expands on his argument & brings in some comment from his spot @ Marginal Revolution.

Seth Roberts on Tyler Cowen's The Great Stagnation

Seth Roberts has posted (and will post) some comments on Tyler Cowen's The Great Stagnation, which I read recently. Both the original by Cowen & Roberts comments to date are very worthwhile. Cowen argues that we've picked the "low hanging fruit" and therefore we may see some degree of economic stagnation in the U.S. for the foreseeable future. Roberts follows up with the pertinent comments, including citing one of his favorites, Jane Jacobs. Interesting and thought-provoking stuff.
I posted a comment on down the line, citing one of my favorites, Thomas Homer-Dixon, who covers similar territory.

Tyler Cowen's Best Books of the Year

Marginal Revolution has some interesting stuff, and Cowen is an eclectic and discerning reader. I can only claim to have read Winston's War by Max Hastings, which I found excellent. Some of the others I've read reviews of, and they sound very good. I love a good book list!