The adventures of a British economist in the Mid West
Across the United States, people are fleeing “Blue States” with their high taxes, spending, and regulatory burdens, for “Red States” which offer greater economic freedom. Rather than heed this lesson, several “Blue States” — and some which are only pale blue — are doubling down, offering even more of their losing formula. Minnesota is one of [ ]
At midnight on May 4, 1926, the General Strike began. In Blackburn, William Woodruff’s family ‘sat in silence in our kitchen, holding their breath, waiting for the revolution to begin’. Instead, Britain’s trade unions suffered total defeat. These unions had been growing in power before World War I, but this coincided with a relative weakening of the [ ]
In February, the Tax Foundation’s Jared Walczak observed that not long ago, it was still possible to speak of a “typical” state income tax with a top rate of about six percent. “That is no longer the case,” he continued. “Today, far more states prioritize low, competitive rates, whereas a smaller number have abandoned the middle for [ ]
n February 11, the Congressional Budget Office (CBO) released its latest Budget and Economic Outlook. It made for grim reading. Deficits are historically high, totaling $1.9 trillion in 2026 and projected to grow to $3.1 trillion by 2036. “Relative to the size of the economy, the deficit is 5.8 percent of gross domestic product (GDP) in [ ]
Americans aren’t happy with their economy. In October, Pew Research reported that “26 percent now say economic conditions are excellent or good, while 74 percent say they are only fair or poor.” This weighs heavily on their minds. In December, Gallup reported 35 percent of Americans “naming any economic issue” as “the most important problem facing this country today,” [ ]
Shortly before Election Day last November, Gallup reported that “The economy ranks as the most important of 22 issues that U.S. registered voters say will influence their choice for president.” Crucially, given the salience of this issue, Gallup noted that “Voters view Donald Trump as better able than Kamala Harris to handle the economy, 54% versus 45%.” [ ]
The Miner’s Strike is one of the most controversial events in modern British history. One version is that Margaret Thatcher sought the conflict, prosecuted it ruthlessly, and destroyed a viable industry to crush the powerful National Union of Mineworkers (NUM). The truth is very different. The British coal industry peaked just before World War One, [ ]
Between 1967 and 1975, imports rose from 19% of US oil consumption to 36%. The ‘oil shock’ of October 1973 seemingly showed the geopolitical risks of that. In November, President Nixon said “In the short run…we must use less energy – that means less heat, less electricity, less gasoline. In the long run…we must develop new sources [ ]
Last year, Minnesota became one of 24 states which have legalized recreational marijuana. Research suggests that neither the horrors that opponents conjure up nor the benefits touted by supporters will, in fact, appear in a range of areas including use of other substances, health and suicides, crime, road safety, or the economy. But the majority of the consequences [ ]
Minnesota and its neighbors pursue very different economic policies. On the Tax Foundation s 2019 State Business Tax Climate Index, for example, Minnesota ranked 43rd best among the states, while North Dakota was 17th and South Dakota was third. Wisconsin came in at 32nd and Iowa at 45th. And yet, these five states experience quite similar, and [ ]