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With the presidential election season in full swing, candidates in both parties are unveiling sweeping tax reform plans. But what’s smart public policy and what’s mere political posturing? To help find out, I chat with Stan Veuger of the American Enterprise Institute on this episode of Ricochet’s Political Economy podcast.
Dr. Veuger received his Ph.D. from Harvard University and was a teaching fellow there before joining AEI. He is a regular contributor to The National Interest and U.S.News & World Report. He also serves as a board member of the Altius Society and as the chairman of the Washington, D.C., chapter of the Netherland-America Foundation.
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This is a good discussion. At first it tends to suggest we know enough to fine tune the economy through the tax system and to focus more on what economists believe than what they can actually measure and know with any confidence. Of course what we call macro economics I call accounting, and while accounting is useful it isn’t economics. The discussion became substantive and strong when it got away from Macro and into incentives facing individuals and firms, i.e. economics.
I don’t know whether Reagan’s economic policies made the 1990s good times, but his foreign policy did. He ended the Cold War without violence, which certainly improved quality of life post 1989.