Bryan Caplan and David Henderson

David Henderson: January 2011

An Author Archive by Month (29 entries)

Taking Consumer Surplus Seriously

Revealed Preference
David Henderson
In a comment on my December 21 post, "John Papola on Behavioral Economics," John Papola wrote: [W]hat is consumer surplus really and why does anyone take such an idea seriously? As someone who takes it seriously--I don't know of any... MORE

Great Stagnation or Lousy Data?

Growth: Causal Factors
David Henderson
Price controls really do matter. Any claim we make based on aggregate data is only as good as those data. Brink Lindsey has pointed out that, contrary to Tyler Cowen, the so-called Great Stagnation that Tyler writes about is not... MORE

Brett Arends on CPI

Revealed Preference
David Henderson
Brett Arends has an article in the January 26 Wall Street Journal titled, "Why You Can't Trust the Inflation Numbers." His distrust is all in one direction: he thinks the Consumer Price Index understates inflation. My distrust is all in... MORE

Washington Snowstorm and Community

Economics and Culture
David Henderson
One of the things I hated most about living in Washington, D.C. during the two-and-a-half years that I was in the Reagan administration was the way almost everyone there "breathed, slept, and ate" government. Of all the people in the... MORE

An Economic Insight on an Old Joke

Labor Market
David Henderson
Supply curves slope up. Here's the joke: Man to woman: Would you sleep with me for one million dollars? Woman: Sure. Man: How about for ten dollars? Woman: What do you think I am? Man: We've already established what you... MORE

Open Immigration: How Many Would Come?

Labor Market
David Henderson
What I found most interesting in the comments on my latest post and in Bryan's response to my post was the wide range of views about how many immigrants would come to the United States in just a few years... MORE

Questions on Immigration

Labor Mobility, Immigration, Outsourcing
David Henderson
While I agree with co-blogger Bryan that it would be desirable to let way more people into the United States, I haven't seen him answer in a satisfactory way some of the arguments against completely open borders. Assume that the... MORE

David Gordon: Harvard University Press Leans Left

Economic Philosophy
David Henderson
The latest issue of Econ Journal Watch is out today and one of the articles is by David Gordon. It's titled, "The Ideological Profile of Harvard University Press: Categorizing 494 Books Published 2000-2010." In it, Gordon methodically goes through 494... MORE

Comparing Mortgages

Finance
David Henderson
I'm in the midst of a refinance of my mortgage, a very straightforward one because our equity in the house is over 80 percent of even a low-ball estimate of value. I was talking to the bank representative early in... MORE

Unemployment and Wages: Find the Flaw

Labor Market
David Henderson
Here's a paragraph from a recent David Leonhardt story in the New York Times: In Germany and Canada, some companies and workers have averted layoffs by agreeing to cut everyone's hours and, thus, pay. In this country, average wages for... MORE

Hayek in Tucson

Central Planning vs. Local Knowledge
David Henderson
On January 12, Congresswoman Nancy Pelosi stated the following about the Tucson shootings: Whether it's the people who responded immediately very courageously, whether it's the first responders who came to the scene in a matter of minutes, whether it's the... MORE

Henderson on Stossel

Fiscal Policy
David Henderson
I was on the John Stossel show on Fox Business Channel last week to discuss my Mercatus study of how the Canadian government turned budget deficits into surpluses. It's called "Canada's Budget Triumph." Here's the segment I was in. It's... MORE

Tunisia: Tullock's Model Fits

Public Choice Theory
David Henderson
The first time I met Gordon Tullock, as I tell here, was in the fall of 1971 when he gave a paper at a conference at the University of Western Ontario. The paper was titled "The Paradox of Revolution." Here's... MORE

Thoughts on Immigration

Labor Mobility, Immigration, Outsourcing
David Henderson
I don't have much to add to Bryan's thoughts on conservative "overlordship" re immigration. But I do want to reply to some points that his commenters raised. . Commenter Tom Dougherty argues that even though landlords, employers, and grocers are... MORE

Bet on Inflation

Monetary Policy
David Henderson
Two days ago, I bet a former student of mine, Thomas Strenge, on the inflation rate for the next year. He's betting that the CPI-U between December 2010 and December 2011 (reported January 14, 2011 and January whatever, 2012) will... MORE

Do People Always Avoid War?

Labor Market
David Henderson
In two separate blog posts, co-blogger Bryan addresses my comments on pacifism and then argues that people generally avoid fighting. I think he makes good points but he way overstated. First, Bryan stated: My prediction: If someone suddenly tried to... MORE

Reflections on Freedom in New York

Business Economics
David Henderson
I'm stuck in New York after my early a.m. flight out was cancelled. Because the hotel I was in had no rooms available for tonight, I had to find another hotel. Fortunately, the Holiday Inn Express three short blocks away... MORE

John Green on Freedom

Regulation
David Henderson
It has become so standard, when a family has had a tragedy, for a family member to advocate some further restriction on freedom even if that restriction would create more tragedies than it would prevent. It's kind of understandable. When... MORE

Henderson on John Stossel's Show

Upcoming Events
David Henderson
Today I'm flying to New York to tape a segment tomorrow for John Stossel's show on Thursday, January 13. It's on the Fox Business Network @ 9:00 p.m. and midnight EST Thursday and @ 9:00 p.m. and midnight EST on... MORE

An increase in U.S. aggregate labor demand reflected in rising job vacancies has not been accompanied by a similar decline in the unemployment rate. Some analysts maintain that unemployed workers lack the skills to fill available jobs, a mismatch that... MORE

McArdle Waves the White Flag

Fiscal Policy
David Henderson
In a post on a serious proposal to almost double the Illinois state income tax, Megan McArdle writes: The income tax increases, on the other hand, are both workable and necessary. Conservatives will holler, but Illinois is not going to... MORE

What is Cornucopia? Boudreaux vs. DeLong

Energy, Environment, Resources
David Henderson
Blogger and GMU economics professor Don Boudreaux has challenged blogger and Berkeley economics professor Brad Delong to a bet. Brad has turned down the bet and proposed his own bet, a bet that Don has not accepted. It seems to... MORE

John Goodman on Magnitude of Health Problem

Economics of Health Care
David Henderson
We now know how many people have the problem most often cited as the reason for last years' health overhaul legislation. Answer: 8,000 No, that's not a misprint. Out of 310 million Americans, only 8,000 people have the problem given... MORE

The Locavore's Dilemma

International Trade
David Henderson
The Feature Article on Econlib this month is "The Locavore's Dilemma" by Jayson L. Lusk and F. Bailey Norwood, both agricultural economics professors at Oklahoma State University. Its subtitle, "Why Pineapples Shouldn't be Grown in North Dakota," is, of course,... MORE

Health Care: Costs, Spending, and Choices

Economics of Health Care
David Henderson
Social Security is widely believed to protect its recipients from inflation because benefits are indexed to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). However, the CPI-W may not accurately reflect the experience of retirees for... MORE

Hazlett on Kahn

Regulation
David Henderson
My friend and fellow UCLA alum, Tom Hazlett, has a beautiful appreciation of Fred Kahn in the Financial Times (HT to Don Boudreaux). Tom is one of the best writers in economics. I learned so much from this relatively short... MORE

Further Advice for a Future Regulator

Cost-benefit Analysis
David Henderson
Tyler Cowen posted a while ago about some advice for a future regulator. I thought the best comment adding advice was this one: Do your best to fight for freedom by attempting to combat any proposed new regulations and undermine... MORE

Reply to My Critics on Foreign Policy

Economics of Crime
David Henderson
I asked a hypothetical question in my previous post today. I'm glad that Prakhar Goel, one of the three people to whom I addressed the question, was willing to participate. Thank you, Prakhar. And, unlike commenter TA, I don't think... MORE

Question for My Foreign-Policy Critics

Economics of Crime
David Henderson
In the comments on my post yesterday, Prakhar Goel, Patrick R. Sullivan, and Shayne Cook were critical of my views on U.S. foreign policy. All three implicitly or explicitly seemed to favor the U.S. government's attack on Afghanistan in 2001.... MORE

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