Some of the reaction to yesterday’s post, “Intellectual Hipsters: Libertarians” made the argument that yes, libertarianism has many defects in its theoretical intellectual foundation, but that perhaps real world libertarians are not deriving their policies strictly from that foundation, or that the policies of the Libertarian Party in America remain useful for other, non-libertarian reasons. I agree that this is a proposition worth considering, and so this post exists as a companion piece to yesterday’s–examining libertarian policy in practise to go along with yesterdays’ examination of libertarian political theory.
Tag: Interest Rate
Fiscal Cliff Insanity
Back in August, I wrote a piece called “Fiscal Cliff Madness” about the set of consequences produced by the law enacted by the government that will severely reduce spending and raise taxes. Today, new research has surfaced from the non-partisan Congressional Budget Office (CBO) that gives us a clearer idea of just what exactly the fiscal cliff might do to the United States’ economy if it comes to pass. The new information is even more dire than the information we had in August, and so the “madness” has now been upgraded to “insanity”.
Fed-Bashing Tomfoolery
It has become fashionable on the political right to attack the Federal Reserve and its policy of quantitative easing, the process by which the Federal Reserve increases the money supply by purchasing assets owned by the private sector with cash that it prints. The right argues that quantitative easing encourages inflation and makes it easier for the government to borrow money, that it discourages saving, and that these are bad things. In contrast, these are very good things, and I shall endeavour to argue as to why.
Back to Britain
Today I find myself preparing to board plane to resume my final undergraduate year at the University of Warwick in Britain. But what sort of country am I coming back to? Has Britain’s government managed to turn around the country’s economic situation, buoyed by the Olympics, or does Britain remain stuck in the doldrums? That is today’s topic.
Stimulus vs. Austerity: UK
Today I’d like to take a mental trip back across the pond and examine the current double dip recession in the United Kingdom, investigating the role it plays as a case study in the policy debate between advocates of stimulus (state spending increases) and advocates of austerity (state spending decreases).
Benjamin Studebaker 