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weekly roundup and debt ceiling
The Decline of Laissez-Faire

Perhaps it all began when President Lyndon Johnson called Wilbur Mills, chairman of the House Ways and Means Committee. “Wilbur, I’ve just been looking through the polls here, and I’ve only got a few …

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Ask Alexa Economic Advice on deadweight loss and gift giving
The Gift Giver’s Dilemma

When gifts are worth less to the recipient than the giver, the economy experiences deadweight loss and an “orgy of value destruction.”…

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