Bryan Caplan and David Henderson

David Henderson: July 2009

An Author Archive by Month (28 entries)

John Goodman on the Lottery

Income Distribution
David Henderson
I was waiting for others to take up John Goodman's June 12 challenge, but I think I've waited long enough. Goodman mentioned Neil Wanless, who won a $200+-million jackpot in a lottery. Statists, both economists and non-economists, often argue against... MORE

I'm on Vacation

David Henderson
From July 30 to August 16, I'll be on vacation at my summer cottage in Minaki, Ontario, Canada. My grandfather, born in 1855, built the cottage in 1921 or 1922. I've scheduled a few posts in advance, but I'll probably... MORE

Me on KQED-FM

Macroeconomics
David Henderson
I'll be talking about the economy on KQED-FM, 88.5 in San Francisco at 9:05 a.m. You can listen live. Update: BTW, this is PDT. Goes to 10:00 a.m. PDT. Can call in at 866-733-6786.... MORE

Arlo Guthrie Says TANSTAAFL

Economic Education
David Henderson
New York Times interviewer: You're giving a free evening concert in New York this Thursday, July 30, at Battery Park. Arlo Guthrie: Free to the public. It doesn't mean I'm doing it for free. In almost every economics course I... MORE

Krugman on Canadian Health Care

Economics of Health Care
David Henderson
"Bad move on my part" In a September 2008 debate on health care, Paul Krugman asks a question of the audience and gets a surprising answer. I won't ruin the suspense. Just watch this 30-second segment. Given my experience with... MORE

Lie to Me, 2

Energy, Environment, Resources
David Henderson
Back in February, I posted an enthusiastic entry on the TV show, "Lie to Me." I enjoy the show, although I'm not sure how scientific the basis is for detecting whether a person's lying based on movements of eyes, mouth,... MORE

Seinfeld, Costanza, and the Minimum Wage

Labor Market
David Henderson
In response to yesterday's post about the minimum wage, Bruce Bartlett mentioned an episode of Seinfeld. That, plus the comment after Bruce's, made me think of a different Seinfeld episode. One of the major points I made in yesterday's post... MORE

Using the Minimum Wage to Hamper Your Rivals

Labor Market
David Henderson
In my 2001 book, The Joy of Freedom: An Economist's Odyssey, I told of how unions have pushed for minimum wage laws to hamper low-wage competition (traditionally much of that competition came from black workers) and how some firms have... MORE

Centralizing Medicare Even Further

Economics of Health Care
David Henderson
Somehow I missed this when it came out Monday. Here's what James C. Capretta reported about Obama's amazing power grab: Today, the Obama administration delivered one of the more remarkable presidential power grabs seen in recent memory (the transmittal letter... MORE

Medical Liability and Tort Reform

Economics of Health Care
David Henderson
I received an e-mail from a student of mine and thought it would be worth answering for others as well as him. He wrote: Here are the two sides that I see on tort reform. 1. It is an attempt... MORE

Hayek at a Rock Concert

Central Planning vs. Local Knowledge
David Henderson
My all-time favorite article by Hayek is his 1945 classic, "The Use of Knowledge in Society." Although he doesn't mention the term "local knowledge" in that article, that is the term we Hayekians have adopted to refer to his "knowledge... MORE

Auditing the Fed: Reply to Bob Murphy

Monetary Policy
David Henderson
In his comment on my previous post about auditing the Fed, Bob Murphy stated that he shared my concerns about the audit movement because he, like me, distrusts Congress. He criticized my view, though, that the Fed is actually more... MORE

Audit the Fed, or End It?

Book Club
David Henderson
The Congressman I admire most, Ron Paul, is advocating that the Federal Reserve Bank be audited. Is this a good idea? I think there's one obvious plus and there are two less-obvious minuses. The obvious plus is that an organization... MORE

Econlog Makes WSJ's Top 25

Economic Education
David Henderson
Econlog is in the top 25 economics blogs, as chosen by the Wall Street Journal. I've waited for my co-bloggers to crow about this, since I'm the newcomer (I started in October 2008), but because they haven't, I will. Of... MORE

Madrick's Case for Big Government

Regulation
David Henderson
In the latest issue of Regulation, my review [.pdf] of Jeff Madrick's The Case for Big Government appears. One of my favorite grafs: If economic freedom works, he argues, our economy should be doing very well because we have had... MORE

Percent or Percentage Points?

Fiscal Policy
David Henderson
After reading news stories today about the House Democrats' plan for levying higher taxes on higher-income people, I found myself confused. It took some digging to end the confusion. No, I'm not talking about almost all reporters' insistence on confusing... MORE

Dan Seligman, RIP

Revealed Preference
David Henderson
I know this is a little late, but I was just surfing the web and found out that my mentor at Fortune magazine, Dan Seligman, died in January. I'm usually better than this at keeping in touch with friends who... MORE

What Caused the Panic?

Macroeconomics
David Henderson
In one of his posts today, Bryan asks us to consider Scott Sumner's thoughts in response to an earlier post by Bryan. (BTW, like many of the other bloggers, I'm now hooked on reading Sumner's thoughts. He has that perfect... MORE

Brooks's Hit on Capitalism

Economics and Culture
David Henderson
In a widely cited column last week, New York Times columnist David Brooks put capitalism as the first cause of the lack of dignity in modern American society. He wrote: First, there is capitalism. We are all encouraged to become... MORE

Obama to Africa: Don't Imitate Me

Cross-country Comparisons
David Henderson
In his speech yesterday in Ghana, President Obama said, among other things: No business wants to invest in a place where the government skims 20 percent off the top. and But what America will do is increase assistance for responsible... MORE

Cowen on Vaticanomics

Economic Philosophy
David Henderson
In today's Wall Street Journal, Tyler Cowen has a piece, "Vaticanomics," in which he analyzes pieces of the Pope's latest encyclical letter, "Caritas in Veritate." He finds it less anti-market than many other commentators have. He doesn't provide enough detail... MORE

"Canadafornia" Medical Care

Economics of Health Care
David Henderson
Here's an excerpt from my chapter, "Free and Healthy at Half the Cost," in The Joy of Freedom: An Economist's Odyssey. I was writing about the single-payer health care system in my native Canada. It's hard to say that the... MORE

Henry Waxman Wants Less Regulation?

Regulation
David Henderson
To save money for consumers, Waxman is willing to allow certain drugs, called biologic drugs, to enter the market without clinical testing that proves their efficacy. He realizes that requiring clinical testing for efficacy will slow things down and needlessly... MORE

Using a standard cost/benefit approach, the policy recommendations generated by stipulating unacceptable "tipping points" appear very inefficient. For example, the current Waxman-Markey bill pending in Congress requires an 83-percent reduction in U.S. emissions (relative to the 2005 base level) by... MORE

Flags, Free Speech, and Property Rights

Economic Philosophy
David Henderson
Law professor Eugene Volokh has a recent piece in the Wall Street Journal defending the right to burn the American flag as an exercise of free speech. It's good reasoning, and there's nothing in it that I disagree with. But... MORE

CAFE Kills (GM)

International Trade
David Henderson
General Motors does produce competitive cars and trucks, but not one of them is small. Consumer Reports recommends three GM cars and three GM trucks. The recommended cars are the Chevy Malibu (the unrecommended hybrid has been dropped), the large... MORE

Favorite Economics Dialogues in Movies

Economics and Culture
David Henderson
Here's one of mine, from Alfred Hitchcock's Rear Window. It's about one of the most important things economics deals with--incentives. Lisa (played by Grace Kelly) and Jeff (played by Jimmy Stewart), are listening to a man in another apartment play... MORE

Like some commenters, I found Bryan Caplan's post on health care today to be one of his best. And he's already set a high bar. But, believe it or not, given that Bryan is a more-radical libertarian than I am,... MORE

Return to top