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Why Progressive Institutions are Unsustainable
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The painful performance of the American economy in the past decade is not a function of bad luck. It is the product of flawed institutional design. Right now we are reaping the harvest of efforts to reinvigorate the progressive programs of the New Deal that stress high progressive taxes, large transfer payments, strong labor laws, and major barriers to free trade.
This combination of public finance and market regulation has proved a potent force for disaster.
High marginal tax rates expose th...
This combination of public finance and market regulation has proved a potent force for disaster.
High marginal tax rates expose th...