After reaching an agreement with Governor Pawlenty late on Sunday, the legislature went into a brief special session to formalize the terms. The good news is that Pawlenty’s insistence on no new taxes won the day; the legislature had to find the funds within the existing revenues. Moreover, most of the “unallotments” made by Governor [...]
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Archives for May, 2010
Book Review: “Panic” by Andrew Redleaf and Richard Vigilante
Friedrich Hayek’s 1974 Nobel Prize lecture, “The Pretense of Knowledge,” concerns the “failure of [Keynesian] economists to guide policy more successfully.” Hayek believed that failure was “closely connected with their propensity to imitate as closely as possible the procedures of the … physical sciences.” Hayek’s point, to simplify, is that the desire to create mathematical models of economic behavior inevitably leads to the exclusion of critical factors that cannot be easily quantified. The result is an elegant, but not accurate, model. Speaking of the Keynesian policies of the 1960s and 1970s, Hayek hypothesized that “an almost exclusive concentration on quantitatively measureable surface phenomena has produced a policy which has made matters worse.”
category: Guest Posts
Tax Cut Rally 2010; Thanks for Coming!
Thanks to all the good folks who worked hard to make the Rally a success again this year. Special thanks to Dan McGrath at Minnesota Majority and Phil Krinkie at the Taxpayers League. We were so busy talking to people and handing out constitutions and information that we never made it to the podium to hear Jason Lewis and all the great speakers. It was cold and windy ( to counter-act all the HOT AIR coming from inside the legislature). Thanks to those who stopped by to share some great thoughts on solving the state deficit without raising taxes.
category: Blog Posts
