Bryan Caplan and David Henderson

David Henderson: February 2010

An Author Archive by Month (24 entries)

LDC Debt

International Macroeconomics: Exchange Rates, International Debt, etc.
David Henderson
In going through memos I wrote at the Council of Economic Advisers, I came across the following memo that I wrote to Jeff Frankel, who replaced Paul Krugman as the International Finance economist at the CEA. It was about Chapter... MORE

Insights on Krugman

Growth: Consequences
David Henderson
The New Yorker carries a long puff piece on Paul Krugman that gives you some insight into the man and his work, especially his New York Times column. One thing I hadn't known was to what extent his wife ratchets... MORE

Health Care Summit "Mid-Mortem"

Economics of Health Care
David Henderson
I've been watching the health care summit on C-SPAN and I followed the live blogging on Cato's site done by Arnold Kling and others. I could comment on many things but I'll choose three: 1. Obama, at about the 12:48... MORE

CEA on "Reforming Health Care"

Economics of Health Care
David Henderson
The chapter, "Reforming Health Care," in the Economic Report of the President February 2010, is chock full of interesting facts and arguments. There are strengths and weaknesses. What this chapter shares with the other 9 chapters is that it actually... MORE

Reply to DeLong

Fiscal Policy
David Henderson
Brad DeLong, in a belated comment at the end of my post, writes: So is your argument really that if not for the stimulus package wages would be falling--and falling wages would be inducing employers to hire lots more workers?... MORE

Ralph Nader and Campaign Finance

Politics and Economics
David Henderson
At the event I was at on Saturday, Ralph Nader gave an excellent speech. I had seen him speak at UCLA in 1974 and I was unimpressed both by his content and by his delivery. His speech on Saturday was... MORE

Fun With Ralph Nader

Business Economics
David Henderson
Yesterday, I was at an all-day meeting of "left and right" in Washington to see if we could put together a coalition against the various wars that the U.S. is in but not in. (War has not been declared since... MORE

Cross-Country Musings

Economic Philosophy
David Henderson
"In the midst of winter, I finally learned that there is within me an invincible summer." --Albert Camus I'm a congenital optimist. I can't tell you why exactly. Maybe it comes from my genes. Maybe it comes from figuring out... MORE

Raise the Age

Economics of Health Care
David Henderson
Whenever I've talked to college audiences over the last 10 years, I've told them that the biggest domestic political issue for the whole rest of their adult lives is likely to be spending on Medicare, Medicaid, and Social Security. I... MORE

Budgetary Implications of Defense: Bleg

Fiscal Policy
David Henderson
On the KQED interview I did on the federal budget, I made the following statement: I'm actually an advocate of having the defense budget be the defense budget, not the offense budget. And most of what the government spends now... MORE

Buy Local

International Trade
David Henderson
My friend Ted Levy sent me the following story: I'm walking through a local Phoenix mall and pass a kiosk for Rosetta Stone, the language-learning software. There's a sign indicating $125 off each course. I ask the woman manning the... MORE

Tom Sowell's Latest Book

Books: Reviews and Suggested Readings
David Henderson
My Hoover colleague, Thomas Sowell, has come out with yet another book. Titled Intellectuals and Society, it has been sitting on my pile for about two weeks. (His publisher sends me gratis copies because I review books in Regulation and... MORE

Are Conspiracies Always Implausible?

Public Choice Theory
David Henderson
Bryan, in posting on Arnold's view of what Ben Bernanke is doing, wrote: Arnold's story fits the facts, but it just seems too conspiratorial. Yet Arnold didn't even hint at the idea of conspiracy. Instead, he was talking about Bernanke's... MORE

Response to Tom West

David Henderson
On Wednesday, Tom West asked: Let me ask you again, David. Are they any non-fraudulent contracts between capable parties that you believe *should* be disallowed by law? If your bargaining power is strong enough, is there anything you shouldn't legally... MORE

The maximum hours question returned to the United States Supreme Court three years later in Muller v. Oregon with this twist--Oregon's maximum hour statute applied only to women. To shore up its case, Oregon hired Brandeis who wrote the first... MORE

From the Vault: Cuban Immigrants, 1994

Labor Mobility, Immigration, Outsourcing
David Henderson
In going through some articles this weekend, I found the following, reprinted in full. It's titled, "Cubans Want Freedom, Not Welfare" and was published in the St. Louis Post-Dispatch, September 30, 1994. The Chicago Tribune published an almost-identical version around... MORE

Adverse Selection on Purpose

Economics of Health Care
David Henderson
In a post a few weeks ago, I stated that I had coined a term in 1994 to describe the effects of a ban on pre-existing conditions clauses in health insurance: adverse selection by law. This weekend, I was going... MORE

Survey on the FDA

Central Planning vs. Local Knowledge
David Henderson
I just finished filling out my survey on my views of the Food and Drug Administration's monopoly on approvals of drugs and medical devices. I was one of 305 economists asked by Econ Journal Watch to do so. Most of... MORE

Problems with Means Testing

Cost-benefit Analysis
David Henderson
Bryan posted earlier this week on why means testing is "awesome." While I do think that future budget deficits will push us towards some version of means testing, I can't agree that it's awesome. It just may be less bad... MORE

DeLong on Horwitz on Bastiat

Fiscal Policy
David Henderson
Warning: I've got to leave for a seminar in a few minutes and so I'll be brief. I won't explain everything Bastiat said, everything Steve Horwitz said, or everything Brad DeLong said. I just want to home in on a... MORE

Bravo for Scott Sumner

Public Goods
David Henderson
Co-blogger Bryan posted on one part of Scott Sumner's recent post on non-blog blogging. I find other parts of Sumner's post way more interesting. For example: Now my biggest problem is time--I spend 6 to 10 hours a day on... MORE

Me on KQED-FM

Upcoming Events
David Henderson
I'll be talking about the Obama budget on KQED-FM, 88.5 in San Francisco at 9:05 a.m., Tuesday, February 2. The person on the other side will be Jean Ross of the California Budget Project. Jean is not an economist. She... MORE

Best Paragraph of the Day

Politics and Economics
David Henderson
We are reminded by Mr. Young that one of Mr. Edwards's early boosters was the late Ted Kennedy, who "saw almost unlimited potential in this young, energetic, well-spoken, good-looking Southerner." In a conversation with Mr. Young, Mr. Kennedy waxed sentimental... MORE

McChesney on Government Pensions

Labor Market
David Henderson
In some areas, the system works in a blatantly self-interested way. Take Baltimore, where the police and firemen pension board recently passed a pension increase that, according to the Baltimore Sun, was "whopping," due to "[h]eavy stock market losses." The... MORE

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