Economic History and Public Policy by Phil Magness
Marx received detailed reports on U.S. cotton markets from Engels, Phil Magness notes
Phil Magness points out that Marx was aware of the source of his patron's funds because Engels sent him detailed letters about the cotton markets in the U.S. These letters were informed by Engels' ...
Phil Magness: Saez and Zucman Billionaire Tax challenges traditional U.S. tax law
Phil Magness questions the foundation of the proposed Saez and Zucman Billionaire Tax, claiming it is based on three statistical falsehoods. He specifically highlights that the tax's structure ...
Marxist economics PhD programs request bailout due to financial struggles, Phil Magness notes
Phil Magness claims that Marxist economics PhD programs are asking Mamdani for a bailout after repeatedly failing to achieve fiscal viability. The comment highlights ongoing financial ...
Phil Magness: Top U.S. earners pay about 41 percent tax rate
Phil Magness draws attention to debates over tax rates paid by high-income individuals in the United States. He states that claims made in 2019 suggesting the ultra-wealthy pay only a little over ...
Inflated tax rates result from omitting credits, Phil Magness argues
Phil Magness asserts that Zucman’s statistical approach overstates the effective tax rates paid by low-income individuals. According to Magness, Zucman intentionally omits the Earned Income ...
Phil Magness: Gabriel Zucman removed data file contradicting NYT corporate tax claim in 2019
Phil Magness claims that Gabriel Zucman published a chart via the New York Times in 2019, while simultaneously removing a data file from his own published work that contradicted his assertion in ...
1974 law does not specify balance of payments measurement, Phil Magness notes
Phil Magness points out that the 1974 statute references 'balance of payments deficits' but does not clarify which of the multiple balance of payments measurement statistics available at the time ...
Phil Magness: Spirit JetBlue merger in 2024 would favor JetBlue brand
Phil Magness, industry influencer, comments that without Khan and Warren in 2024, Spirit would likely have merged with JetBlue. He observes that such a merger would have resulted in the Spirit ...
Current account differs from BoP but is still used, Phil Magness notes
Phil Magness voices concerns over recent statements by Yared about the relationship between the current account and the balance of payments (BoP). Magness points out that Yared acknowledges the ...
Phil Magness: Keynes rejects Communist economic doctrine as obsolete
Phil Magness shared a quote from economist John Maynard Keynes criticizing the Communist doctrine. In the statement, Keynes refers to it as an 'obsolete textbook' that is scientifically erroneous ...
Commerce Dept discontinues ORT balance of payments metric, Phil Magness notes
The U.S. Commerce Department considered dropping the official reserve transactions (ORT) as the main measure of the balance of payments deficit in 1976. Phil Magness shared the department's ...
Phil Magness: Trade Act 1974 report distinguishes trade balance and payments deficit
The Trade Act of 1974 committee report made an important distinction between the trade balance and the Balance of Payments Deficit. Phil Magness pointed out that the primary measure for the ...
Phil Magness challenges pro-tariff claims of CPI and inflation impact
Phil Magness questions the credibility of pro-tariff arguments concerning inflation and the Consumer Price Index (CPI). He asserts that the talking points supporting tariffs are based on a false ...
Phil Magness analyzes U.S. trade and reserve trends in 1960s and 1970s
Phil Magness addresses shifts in the U.S. official reserve position and trade balance across the 1960s and early 1970s. According to Magness, the U.S. reserve position remained largely in deficit ...
