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Robin Hood or a Rising Tide Lifts All Boats? A Time to Choose (Part III)

August 29, 2016

The Robin Hood story is based on good intentions and the desire to help the less fortunate in the economy. This is a good example that illustrates something that never ceases to amaze us, and it has to do with how often story writers, economists, and policymakers ignore the aggregate or macro effects caused by substitution effects generated by certain policy actions.

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