Does Wagner’s Law Make Sense?

Wagner’s law refers to the proposition of Adolph Wagner (1893) that there is a positive relationship between the level of economic development and the size of government. The underlying idea seems to have been that the demand for services provided by government tends to rise strongly as average incomes rise.

I think Wagner’s law . . . → Read More: Does Wagner’s Law Make Sense?

Economic Events on September 24, 2010

At 8:30 AM EDT, the Durable Goods Orders report for August will be released. The consensus is that there was a decrease of 1.0% from July.

At 10:00 AM EDT, the New Home Sales report for August will be released. The consensus is that 290,000 new homes were sold last month, which would be . . . → Read More: Economic Events on September 24, 2010