Stanford Progressive

Letter from the Editor

by Ross Raffin

Economics is a discipline of models. When many people hear economic theories, they ask questions like “but what about all of the other factors?” For instance, how can a “rational actor” model of the stock market, where all investors are omniscient cost-benefit machines, predict the psychologically-driven and irrational choices of actual stock-holders?

Cult of the Tax Cut

by Ross Raffin

Supply-siders, “Reaganites,” and other cult followers of the almighty tax cut run rampant throughout the modern Republican party. While economists and political scientists ran through simulations and calculations to try and find the best monetary answer to the worst financial crisis in decades, the Cultists chanted that we should cut taxes, cut taxes, cut taxes.

GDP, or You and Me?

by Nick Enge

Even many hardcore economists are beginning to admit that despite our GDP growth, we are making little domestic progress. According to one purely economic measure, the genuine progress indicator (GPI), the United States has seen no increase in annual per capita wealth since 1976.