Showing posts with label regulation. Show all posts
Showing posts with label regulation. Show all posts

2012-12-05

The rites of job creators

In June 1993, shortly after Bill Clinton became US President, the US unemployment rate was 7.0%. Under Clinton the unemployment rate dropped dramatically to 3.9% in December 2000, and the top rate of taxation had increased from 31% when he entered office to 39.6%

In June 2001, shortly after George W Bush became US President, the US unemployment rate was 4.5% and the first of the Bush tax cuts were enacted (to create jobs). One year after the tax cuts became the law of the land, June 2002, the unemployment rate had already increased to 5.8%, and at the end of the Bush administration (and another set of income tax cuts) the unemployment rate was 2.8% higher at 7.3% together with many other problems. (BLS figures.)  Unemployment might have increased because of the tax cuts, or there might be other reasons, but there does not seem to be any support for the Republican rite that tax increases suppress job creation or – the reverse – tax cuts create jobs.

2011-10-16

The libertarian regulation of free enterprise

Free enterprise: An economic system of business governed by the laws of supply and demand with minimal government interference, regulation, or subsidy.
Enterprises range from, for example, Lehman Brothers to a soup kitchen to Occupy Wall Street. Some enterprises are highly structured and highly organized; most enterprises have some structure and some organization; other enterprises are little more than collections of individuals, having no structure and no organization. It is worth noting that realist anarchist enterprises have some structure and some organization even though there are those who believe that idealist anarchist enterprises have no structure and no organization.