Here's the ending....
Sanders wants to turn America into Denmark. But as National Review's Kevin Williamson has written, Denmark has moved towards freer markets and is today just as competitive globally as the United States. Sanders can't even find a good socialist example these days.
And Hillary Clinton deserves an anti-Nobel economics prize for coming out against the Trans-Pacific Partnership trade deal, which she once praised as the gold standard of trade.
If Professor Deaton is correct -- that growth helps solve poverty -- it's clear after the Tuesday-night debate that the Democrats don't have an anti-poverty program. Punishing success will not create the growth that lowers poverty. Nor will wild-eyed spending. Nor will massive costly new regulations.
The last great super-growth Democrat was John F. Kennedy. He targeted 5 percent economic growth rather than 2 percent secular stagnation. He slashed tax rates for the rich, the middle brackets, and the lower brackets, and on corporations, capital gains, and elsewhere. He was a free-trader. And he insisted on a stable and reliable dollar (in those days, linked to gold).
And I bet JFK would have agreed heartily with many of the words of newfound Nobelist Angus Deaton.
But today's Democratic party is basically erasing JFK's economic legacy. What a pity.
http://www.realclearmarkets.com/articles/2015/10/17/the_latest_nobel_laureate_echoes_jfk_101853.html
Sanders wants to turn America into Denmark. But as National Review's Kevin Williamson has written, Denmark has moved towards freer markets and is today just as competitive globally as the United States. Sanders can't even find a good socialist example these days.
And Hillary Clinton deserves an anti-Nobel economics prize for coming out against the Trans-Pacific Partnership trade deal, which she once praised as the gold standard of trade.
If Professor Deaton is correct -- that growth helps solve poverty -- it's clear after the Tuesday-night debate that the Democrats don't have an anti-poverty program. Punishing success will not create the growth that lowers poverty. Nor will wild-eyed spending. Nor will massive costly new regulations.
The last great super-growth Democrat was John F. Kennedy. He targeted 5 percent economic growth rather than 2 percent secular stagnation. He slashed tax rates for the rich, the middle brackets, and the lower brackets, and on corporations, capital gains, and elsewhere. He was a free-trader. And he insisted on a stable and reliable dollar (in those days, linked to gold).
And I bet JFK would have agreed heartily with many of the words of newfound Nobelist Angus Deaton.
But today's Democratic party is basically erasing JFK's economic legacy. What a pity.
http://www.realclearmarkets.com/articles/2015/10/17/the_latest_nobel_laureate_echoes_jfk_101853.html
