In the last quater of 2012, real U.S. Gross Domestic Product (GDP) fell by 0.1 percent, after a third quarter increase of 3.1 percent. The decrease is attributable to a few factors: a drop in private inventory investment, a decline in…

Last week James Buchanan, Nobel Laureate in Economics and George Mason University professor, passed away at the age of 93. He was awarded the Nobel in 1986 as one of the founders of Public Choice Theory, an approach to the study of political behavior…

On his blog, Confounded Interest, GMU finance professor Anthony Sanders dryly notes that the American Taxpayer Relief Act does nothing of the sort. As he puts it, “How is adding $4 trilion to the federal deficit in 10 years called,…

At 2 a.m. the Senate passed in an 89-8 vote The American Taxpayer Relief Act of 2012 that does not cut the deficit but does make permanent the Bush tax cuts for families earning under $450,000. Taxes will rise on…