Consensus-Approved Good Economic Policies

by Pejman Yousefzadeh on August 19, 2012

Found here via Stephen Bainbridge. The consensus is formed by six economists who range across the political spectrum. I find much to like in the list, but I continue to prefer my own twist to the implementation of a carbon tax. I would love to see income and payroll taxes replaced by a consumption tax, but that is not going to happen anytime soon; it would likely be easier politically to radically reduce the top rate, make the system much flatter and add a small VAT that could still reap a lot of money in a minimally intrusive way to get us out of our fiscal mess. As for the legalization of marijuana, I certainly am not nearly the drug warrior that I was in the days of my youth–the War on Drugs has clearly been an abject failure. But while I am more open to marijuana legalization than I was in the past, I am not sure that legalization will be as effective as some make it out to be. It’s an issue I simply have to study further.

It is, of course, incontrovertible that politics has a way of interfering with the implementation of smart economic policies. This means that thanks to political games, there are a whole lot of people who are poorer than they ought to be. If this doesn’t make you angry, you ought to check yourself for a pulse.

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