John Tamny

John Tamny is Founder and President of the Parkview Institute, editor of RealClearMarkets, senior fellow at the Market Institute, and Senior Economic Adviser to mutual fund firm Applied Finance Group. Tamny is the author of eight books. His latest is The Deficit Delusion: Why Everything Left, Right and Supply-Side Tell You About the National Debt Is Wrong. His others are Bringing Adam Smith Into the American Home: A Case Against Home Ownership, The Money Confusion, When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason, Popular Economics, Who Needs the Fed?, The End of Work, and They're Both Wrong: A Policy Guide for America's Frustrated Independent Thinkers.

All Government Spending Is Painful, and Paid for Right Now

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Economic thought with any pretense of seriousness is all about removing all barriers to production. No doubt taxes are a barrier, as are regulations, tariffs, currency devaluation, and government spending. Whatever inhibits production is paid for right now. The problem presently is that even the right-of-center economic religions, though they would nod their heads to […]

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Neither Balanced Budgets Nor ‘Starve the Beast’ Will Limit Government

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Balancing the budget will never, ever shrink the federal government opposite what the experts at Cato, Mercatus, and other right-of-center think tanks tell you. The reason why can yet again be found in national debt of $39 trillion. The debt is a loud, market signal that government revenues in the future will make those

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Book Review: Eswar Prasad’s “The Doom Loop”

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As the illness of the late Cato Institute co-founder Ed Crane escalated, and with it Crane’s pessimism about how much time he had left, I would tell him he had to stick around lest the members of our weekly lunch crew retreat into fallacious thinking, including – gasp – conventional conservative wisdom. There was reason for

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No Matter Your Opinion on Iran, War Is Depression

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War symbolizes economic decline like nothing else precisely because it’s defined by the extermination of the very people who create all the growth. The sad fact that economists near unanimously contend that war has a growth upside discredits the profession like nothing else. The speculation here is that American Institute for Economic Research fellow

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Buy-and-Hold “Great Companies”: The Most Overrated Notion In Investing

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My friend Michael Toth, director of research at the Civitas Institute, could perhaps be persuaded that he’s incorrect about capital gains taxes. While he’s correct that the long-term tax on capital gains should be zero, he overstates the growth implications. Much greater growth would come from zeroing out taxes on short-term capital gains. To see why, just

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Economic Growth Is the Cause of the National Debt, Not Its Solution

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What’s your limit on a typical credit card in your wallet? And if your borrowing limit is higher today than it was when you turned twenty-one, ask yourself why. To say you can borrow more today relative to twenty-one is likely a blinding glimpse of the obvious. You likely earn quite a bit more

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If Immigrants Imported Failure, Then They Wouldn’t Be Immigrants

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Immigrants, particularly immigrants from what President Trump has described as “Sthole Countries,” are rejecting those “Stholes.” That’s why they’re immigrants. Yet it’s long been the norm to assume otherwise. Consider 19th century British Prime Minister Benjamin Disraeli. Describing existing and would-be Irish immigrants, he thundered about how “They hate our free and fertile isle.

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