$10,000 Economics Challenge Blog

Modern Monetary (Marxist) Theory

MMT for some strange reason has emerged recently in the media as a supposedly feasible alternative to modern economic conventions. Why is a mystery to me. The prime mover of this folly seems to...

Max Bernier – Saviour

A New Political Party at the Right Time The previous week was memorable for the eminents of Canada’s governing apparatus: Canada’s absence from the NAFTA negotiations, Trudeau’s despotic outbursts, the CPC Convention/Insurrection. What most...

Real Growth Through Tax Cuts

The Path to Prosperity For decades this province has let large numbers of people and precious money and investment flee this province for far better opportunities elsewhere. For those that remain life has only...

The Ricardian Equivalence Dodge

200 plus years ago a fellow by the name of David Ricardo posed a very unusual idea: that government should borrow to fund public expenditures rather than tax. He was right, though such an...

Part 1: Bad Premise in Public Finance Theory

Public Finance Blunder There is a very bad premise operating in modern economics, specifically in the foundations of Public Finance. It has marred derived theories and practices for centuries, and caused great and ubiquitous...

Part 2: Taxation and Borrowing Elicit the Same Result

Part 2: Taxation and Borrowing Elicit the Same Result

No Difference if a State Taxes or Borrows As explained in the first part of this 3 part series, the task of funding government has always fallen to the Taxpayer. That to fully understand...

The Perils of the Minimum Wage

Minimum wage laws are the most anti-employment legislation a government can create. The labour market, supply of and demand for labour, will determine the proper wage for entry level employment. But that is never...

Deficits are Not the Problem

The Real Problem is not a $400 Million Deficit It is imagined that the deficit of the Manitoba Government is presently a small portion of its total expenditures of $13 billion – that is...