David Hebert

Economics

Understanding Trade Balances and What to Do About Them

Part 1: What is a Trade Balance? The balance of trade, often described under the heading of a “trade deficit”…

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Economics

An External Revenue Service?

President-elect Donald Trump has floated the idea of creating an External Revenue Service, which he claims will be used to…

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Economics

Why the US Grows While the EU Slows: Adam Smith’s Recipe

What explains the curious lack of economic progress in the EU over the past 16 years? In 2008, the economies…

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Economics

Why Are There No Trillion-Dollar Companies in Europe? 

Europe is a wonderfully diverse continent, with 44 countries, each with its own rich (and long) history and unique constellation…

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Economics

Resource Allocation: Why You Can’t ‘Just Ignore the Economists’

"Rather than paying with money, those in search of scarce goods people will pay with their time and effort." ~David…

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Economics

Minimum Wages Wreak Labor Havoc 

"They arrogantly believe that this time will be different; that their version of a minimum wage will work where every…

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Economics

Want to Pay More Tax? You Can

"Congress has also budgeted for $1.7 trillion of deficit spending for the current fiscal year; over 26,000 times as much…

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Economics

Trump, Tariffs, and Income Taxes 

"Perhaps Trump’s goal is simply to eliminate the federal income tax. If so, then he should advocate for doing that…

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