Friday, October 24, 2008


From Carnegie Mellon Econ Prof Adam Lerrick in Wednesday's Wall Street Journal (footnote added):
What happens when the voter in the exact middle of the earnings spectrum receives more in benefits from Washington than he pays in taxes? Economists Allan Meltzer and Scott Richard posed this question 27 years ago.1 We may soon enough know the answer.
1 See Meltzer & Richard, A Rational Theory of the Size of Government, 89 J. POLITICAL ECON. 914-27 (1981) (summary here).

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