American - Economist | -
I prefer to listen to people who change their mind now and then.
Kevin Hassett
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Taxes can set the level of activity around which the economy fluctuates, but they have very little effect on the fluctuations themselves.
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Socialized medicine allows a nation to exclude a U.S. product from its market if the U.S. firm does not make generous enough price concessions. Accordingly, what has developed is a system within which U.S. firms make large profits on new drugs in the U.S. market, but very low profits on sales everywhere else.
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