Every group spends more when its income grows.

Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008.

Once firms had to pay to pollute, they became incredibly inventive at figuring out cheaper ways to eliminate their SO2 emissions.

In the long run, greater investment would mean greater productivity and income growth.

Every group spends more when its income grows.

As the great naturalist Charles Darwin saw clearly, individual and collective interests often coincide, as in the invisible hand narrative. But he also saw that in many other cases, interests at the two levels are squarely in conflict, and that in those cases, individual interests generally trump. That simple observation suggests that market failure is often the result not of insufficient competition (the traditional charge from social critics on the Left), but of the very logic of competition itself.

A flat tax is roughly the same as a sales tax.