From the November 2010 issue
For the last two years, Arnold Kling
has served as an adjunct member of George Mason University’s
Financial Markets Working Group. Kling, 56, got his start as an
economist and researcher at the Congressional Budget Office and the
Federal Reserve Board. In “Turning Guns to Butter” (page 44), he
explains how the U.S. economy thrived after World War II despite
dramatic cuts in government spending that Keynesians thought would
be disastrous. Although his career began in the public sector,
Kling is no stranger to the business world. In 1994 he started one
of the very first online companies, homefair.com, which he sold
near the height of the Internet bubble. His advice to young
entreprenuers: “If you ever get a chance to sell an Internet
business in 1999, take it.”
Maurice McTigue’s “The New
Zealand Miracle” (page 45) explains how his South Pacific nation
managed to shrink a swollen government in the 1980s. McTigue, 69,
had a firsthand view of the reform process as a cabinet minister,
ambassador, and member of parliament. Now a resident of Fairfax
Country, Virginia, he says New Zealand has come a long way in the
last three decades. “Before we started reforming, the country had a
very socialist streak,” he recalls. But today, “if I go back to New
Zealand and talk to farmers, they can’t actually remember what
subsidies were.”
In 1970 Contributing Editor David
R. Henderson took a year off from school to learn graduate-level
economics, spending roughly four hours a day reading journal
articles and writing fan letters to economic luminaries such as
Gary Becker, James Buchanan, and H. Gregg Lewis. By 1984 he was on
the faculty of the Naval Postgraduate School in Monterey,
California, where he still teaches economics. Henderson, 59, is a
former Canadian, and in “If Canada Can Do It…” (page 47) he shares
lessons from his former nation’s experience with cutting
government. Asked what virtues Canada has that the U.S. lacks,
Henderson says, “Canadians don’t tend to have the view that if
something outrageous happens almost anywhere in the world, their
government has the right to intervene.”
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