Austan Goolsbee Quotes
The U.S. fiscal union has worked, in no small part, by enabling subsidies to the Mississippis without requiring the approval of the Minnesotas. It creates an important form of insurance.
Goolsbee, Austan. "How to Save the Euro." The Wall Street Journal, Dow Jones & Company, 25 July 2012.
A tax system should be instituted
Even after the American Revolution, the Government of the Continental Congress under the Articles of Confederation was a mess which would only be resolved by the Constitutional Convention the next year and the ratification of the Constitution.
South Carolina did not like the protectionist measures that Congress had passed. Although the Federal Government clearly had the Constitutional authority to regulate interstate and international commerce, South Carolina, led by John C. Calhoun, took the position that any state could nullify a Federal law’s application within their state. Clearly, that was a vision of a nation that would have very different from our history where the Federal Courts were the only institution that could nullify an act of Congress anywhere.
Austan Dean Goolsbee is an American economist and writer. He is the Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business. Goolsbee formerly served as the Chair of the Council of Economic Advisers, was a member of President Barack Obama's administration, and worked as an acting fill-in anchor for WGN-TV in Chicago.
