7 (old) New Year’s Resolutions From Greg Mankiw
These are from an article Greg Mankiw wrote for the Wall Street Journal January 3, 2006, which he re-posted recently on his own blog:
CAMBRIDGE, Mass. — Now is a time when most of us sit back and reflect on the past year and on how to do better in the year ahead. Since I know, however, that economic policy makers inside the Beltway are often too busy for such introspection, my gift to them is a list of seven New Year’s resolutions. Any senator, congressman or presidential wannabe is free to adopt them as his or her own. Just repeat after me:
• #1: This year I will be straight about the budget mess.
• #2: This year I will be unequivocal in my support of free trade.
• #3: This year I will ask farmers to accept the free market.
• #4: This year I will admit that there are some good taxes.
• #5: This year I will not be tempted to bash the Fed.
• #6: This year I will vote to eliminate the penny.
• #7: This year I will be modest about what government can do.
[Read the full text of the article HERE]
Editor’s Note: notice #6 is along the same lines as an article previously posted here on consumptionrules.com (It’s Time to Get Rid of the Penny), and has been the subject of a new study by Robert Whaples, an economics professor at Wake Forest University.
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