Oregon’s Experiment With Human Equity

ABC News reports that Oregon will be implementing “Pay It Forward, Pay It Back,” a plan that looks remarkably similar to Human Equity contracts.  The proposed scheme offers post-secondary schooling at zero price; after graduation, students repay the State with Continue reading Oregon’s Experiment With Human Equity

Ricardian Equivalence and Hyperbolic Discounting

One of the central questions in macroeconomic policy is whether governments can improve economic growth during economic downturns by increasing spending.  A common argument against such interventions is that the increased spending will be ineffective because it tends to “crowd Continue reading Ricardian Equivalence and Hyperbolic Discounting