You may have heard about “inversions,” which have become a hot topic of debate in the wake of Burger King’s acquisition of Tim Hortons. Megan McArdle provides some much-needed context for that debate (although my jaw dropped when I got to her line about “what you owe the government that raised you”). Cato Institute scholar and Debt Dialogues guest Dan Mitchell has more.
I’ve written numerous times about the fascinating phenomenon of the Mutual Aid Societies that flourished before the creation of the welfare state. Here’s a nice overview from Greg Scandlen.
We often hear the economy compared to a pie, which wrongly suggests a zero sum game, where one person’s fortune necessary comes at another person’s expense. Some criticize the metaphor for ignoring that the pie can grow. But as Yaron Brook and I have argued, there is no pie. Keith Hennessey agrees, and argues that the economy is a garden, not a pie.
