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  • Austerity Successes in Previous Downturns

    The left continues to resist any suggestion of spending cuts right now. In their view, a depressed economy is no time to slash spending; that would only further weaken demand. The successful austerity policies adopted in response to the downturn of 1920, however, offer a clear rebuttal to this notion. … More

    Income Inequality vs. Wealth Inequality

    Recently, the Congressional Budget Office (CBO) released its latest statistics on income inequality. Economists, bloggers and others have been furiously debating their implications. Over at the American Enterprise Institute, Jim Pethokoukis has been bludgeoned by various left-wing bloggers for pointing out that the story of growth of income inequality is … More

    Podcast: Keynes vs. Hayek

    Make sure to listen to a recent radio interview with Nicholas Wapshott, author of the new book, “Keynes Hayek: The Clash That Defined Modern Economics.” What was the relationship between Keynes and Hayek really like? Why did Keynesian thought dominate from WWII until 1980? Why did Hayekian thought dominate from 1980 … More

    Myths of Austerity Failures

    Evidence shows that “austerity” during a sharp downturn in 1920 coincided with quick economic recovery and robust growth throughout the rest of the decade. Nevertheless, there is a belief that the example of President Herbert Hoover from 1929–1933 was a failure of austerity, which pushed the economy into the Great … More

    Does 'Austerity' Work?

    Remember the Great Depression of the 1920s? If not, that’s because it didn’t happen. The recession of the early ‘20s quickly ended after spending and taxes were cut dramatically. It provides a clear lesson in “austerity” that President Obama should heed. In 1920, newly elected President Warren Harding inherited a … More

    PODCAST: The Futures of Libya and Iraq

    In this week’s Heritage in Focus, foreign policy expert James Carafano fills us in on the latest news throughout the Middle East. Click here to listen. Now that Libyan leader Muammar Gadhafi is gone, what’s next? President Obama has announced the withdrawal of all troops from Iraq by the end … More

    Heritage Libertad Radio: Tony Perkins, Free Trade Agreement, CLASS Act, More

    Make sure to catch our latest Heritage Libertad Radio Show, available in Spanish or English. We kick off the first 30 minutes of our hour-long broadcast with the Spanish segment. Topics include Obamacare, the economy, jobs, and a look at the recently signed Free Trade Agreements with Panama, Colombia and South … More

    Tax Cuts and Supply-Side Effects

    Lawmakers have recently paid lip service to cutting the corporate tax rate to help boost economic growth. Doing so would be good policy, but it’s important to know why. Information disseminated by both political parties, think tanks, government organizations, media outlets, and political pundits has confused the issue, leading many … More

    PODCAST: The Constitution and National Defense

    In this week’s Heritage in Focus, former Attorney General Ed Meese and graduate fellow Marion Smith discuss the Constitution and providing for the common defense. Click here to listen. Were the Founders isolationists, who believed in non-interventionism? What relevance does their understanding of providing for defense have today? And what … More

    Poor Sales or Economic Uncertainty Preventing Stronger Recovery?

    Various organizations and media outlets have attempted to refute the notion that government policy is creating uncertainty and hindering economic growth. However, when properly analyzed, the uncertainty argument is a legitimate one. Critics of the uncertainty narrative say that businesses cite poor sales – or lack of demand – not … More