Only People Pay Taxes: Redux

Walter E. Williams, on corporate taxation:

The largest burden of corporate taxes is borne by workers.We discover that by asking a simple question, such as: Which workers on a road construction project earn the higher pay, those employed moving dirt with shovels and wheelbarrows or those doing the same atop giant earth movers? You’d . . . → Read More: Only People Pay Taxes: Redux

Kenny Feng: What Are MLPs and Why Are They Outperforming?

Increasing U.S. energy demand has spawned a similarly growing investment space in Master Limited Partnerships (MLPs). These partnerships provide investors with the opportunity to share in the income generated mainly through the transportation, distribution and storage of oil and natural gas. In this exclusive interview with The Energy Report, Kenny Feng, president and . . . → Read More: Kenny Feng: What Are MLPs and Why Are They Outperforming?

How to decontrol the price of oil

We know a lot about price controls from the field of exchange rates. Here’s an argument from way back, in 1998:

When change comes to a stabilised currency, as it must, that change is painful. Change in the long term is inevitable. The random walk doles out a little change every day, which is . . . → Read More: How to decontrol the price of oil

Economic Models and Forecasting

Recently, I’ve been thinking a lot about how pointless economic models are.  A good portion of this is probably due to being in a college microeconomics class (which uses Mankiw’s book, which Vox picks apart here.).  What passes for mainstream economics is nothing more than gussied-up tautologies and pretty models that don’t actually prove . . . → Read More: Economic Models and Forecasting

Economic Events on November 10, 2011

At 8:30 AM Eastern time, the U.S. government will release its weekly Jobless Claims report. The consensus is that there were 400,000 new jobless claims last week, which would would be 3,000 more than the previous week.

Also at 8:30 AM Eastern time, the International Trade report for September will be released.  The consensus . . . → Read More: Economic Events on November 10, 2011