UF law professor and economist Neil H. Buchanan comments on a recent positive development in the economics profession—a move beyond the narrow notion of “Pareto efficiency” that economists have used for decades to support trickle-down economics. Buchanan explains the significance of this development, with the caveat that the change will likely not make much difference in actual economic policies.
University of Florida Levin College of Law professor and economist Neil H. Buchanan criticizes Democratic pundits and presidential candidates for trying to force Senator Elizabeth Warren to say explicitly whether she intends to raise taxes to pay for her healthcare-for-all plan. Buchanan points out that their insistence on this point essentially does Republicans’ work for them, rather than setting the table for an honest and clear discussion about the financial costs (by any name) of reform.
University of Florida Levin College of Law professor and economist Neil H. Buchanan comments on a recent essay by Binyamin Appelbaum and highlights what he perceives as Appelbaum’s most important arguments with respect to the economics profession. Buchanan argues that we should welcome the decline of economics because it exemplifies an academic field given too much responsibility with too little accountability.
In this second of a two-part series of columns, University of Florida Levin College of Law professor and economist Neil H. Buchanan argues that Americans do not have to—and should not—support Trump simply because he claims (erroneously) to have revitalized the economy. Buchanan argues that for a voter to cast a vote purely on account of a perceived improved economy would require her to devalue every other issue—effectively selling the country’s soul.
In this first of a two-part series of columns, University of Florida Levin College of Law professor and economist Neil H. Buchanan responds to the claim that President Trump is helping the U.S. economy. Buchanan argues that beneath the “somewhat good” aggregate numbers, most people in this country are suffering genuine damage, including not having health care insurance and being perpetually on the verge of financial ruin.
BU Law emerita professor Tamar Frankel discusses the dangers of allowing non-government entities—such as Facebook and its affiliates—to issue a “basket” of crypto-currency. Frankel explains the importance of government regulation of currency and cautions that we should seek a clearer understanding of any technology or currency that can potentially destabilize the nation’s economy.
GW law professor and economist Neil H. Buchanan points out that while liberals reject radical left-wing ideas, conservatives do not similarly reject radical right-wing ideas. By way of example Buchanan discusses the theory of Modern Monetary Theory, a persistent fringe theory has been embraced by a few prominent left-leaning politicians despite being rejected by economists across the political spectrum.
GW law professor and economist Neil H. Buchanan explains why Senator Elizabeth Warren’s proposal of a wealth tax is not only constitutional, but good policy. Buchanan points out that even in the worst case scenario, Warren’s proposal can pass constitutional muster.
GW law professor and economist Neil H. Buchanan explains the benefits of a tax policy that eliminates the “realization requirement” but describes how a hyper-conservative Supreme Court might go to great lengths to strike down such a policy. Buchanan points to an all-but-overturned Supreme Court decision from 1920 and suggests that the conservatives on the Court could ignore the (well deserved) criticism that decision has received in order to strike down progressive tax legislation.
GW Law professor and economist Neil H. Buchanan describes why President Trump’s recent attacks on the nation’s independent central bank, the Federal Reserve, is dangerous and worrisome. Buchanan explains the reason the Fed is independent of politics and highlights the importance of its continued existence and independence, regardless of who is in the White House.
GW Law professor and economist Neil H. Buchanan explains why the notion of a completely “free” market is nonsensical and argues that Senator Elizabeth Warren’s proposed Accountable Capitalism Act would make capitalism in this country work better. Buchanan points out that there is not a baseline of “no rules” in any society; rather, the government has already simply set certain rules, and those who disproportionately benefit from those rules do not wish them to change.
GW Law professor and economist Neil H. Buchanan explains why it is a false equivalence to say (as some journalists have said) that while Republicans have embraced increasingly extremist positions, so too have Democrats. Buchanan argues that true capitalism does not mean lack of rules altogether but simply a collection of rules that promote competition and fairness.
GW Law professor and economist Neil H. Buchanan discusses why the recent announcement by the Trump administration that it is considering a unilateral tax cut for the rich would be a political gift to Democrats. Buchanan describes what the tax cut would do and explains that no one thinks that such legislation could pass, which is why Trump’s people are talking about this executive workaround.
GW law professor and economist Neil H. Buchanan comments on two of last week’s decisions from the US Supreme Court that at least nominally involved tax law issues. Buchanan explains why the decisions suggest that the justices remain confused about taxes and financial issues more generally and suggests that the lower-profile case from last week may end up having the most important and negative effects going forward.
GW Law professor and economist Neil H. Buchanan explains why Social Security is so important, and why Republicans’ claim that it is “going to go broke” is so dishonest. Buchanan briefly describes how Social Security was designed and why, because of that design, it is performing exactly as expected and intended when it was set up.
George Washington law professor and economist Neil H. Buchanan debunks the supposedly simple solutions some purported economists have for complex problems. Buchanan explains that regardless of where one is on the political spectrum, complex social and economic issues—particularly the housing crisis affecting many cities across the country—require considering a number of factors and cannot be solved by “simply” assuming away real-life complications.
George Washington law professor and economist Neil H. Buchanan explains why regressive taxes make Republicans “reverse Robin Hoods” by focusing on the core disagreement between those Republicans and everyone else about the ethics of taxation. Buchanan points out that the Republicans’ argument boils down to the tautology that rich people deserve what they have because they have it.
George Washington law professor and economist Neil H. Buchanan describes two reasons Republicans’ regressive tax cuts are unpopular: people are no longer falling for Republicans’ claims that the tax cuts help the middle class, and people are increasingly aware that the tax cuts increase, rather than reduce, economic inequality.
George Washington law professor and economist Neil H. Buchanan describes how Republicans' unjustified war on the Internal Revenue Service and attempts to defund it have incidentally caused all charitable organizations to suffer. Buchanan recounts the non-scandal involving the IRS and highlights the inconsistencies in Republicans' rhetoric as to that incident-which led to dire consequences not just for honest taxpayers but for legitimate charitable groups and the people who would like to support them.
Guest columnists Igor De Lazari, Antonio Sepulveda, and Judge Sergio Dias describe how Brazil recently addressed an issue currently before the US Supreme Court-an issue of when (and whether) a state may collect taxes on goods that originate out of state. De Lazari, Sepulveda, and Dias suggest that perhaps the issue is better resolved, as it was in Brazil, through the legislative process rather than by court decision, so as to ease what is likely to be an abrupt transition.