From the Freakonomics blog: The red line now shows five things much more clearly: 1. The slump began in late 2006. And indeed, we were hardly enjoying good times through early 2006. 2. It’s a big slump, and GDP per capita fell by over 7 percent. 3. We remain a long way below the previous [...]

The U.K. is very much another country when it comes to the workings of its political institutions. Get a solid majority in Parliament, and you can make quick, dramatic changes in policy. Stung by the rise in public spending under Labor, its clear that voters in the UK wanted fiscal discipline. They got their wish, [...]

Texas is in a budget crunch, same as the rest of the country, but its origins lie, in part, in a massive tax overhaul that occurred in 2006: The goal was to cut property taxes without costing the state any money. Perry designed a “tax swap” that would reduce property taxes and replace the lost [...]