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David Henderson: April 2009

An Author Archive by Month (19 entries)

Richard Epstein on Happiness, II

Economic Philosophy
David Henderson
The word 'friend' is an important word. Last week, I posted about Russ Roberts's interview of Richard Epstein on the happiness literature. This is the second installment. 20:00. Epstein quotes Hayek pointing out that if we try to stabilize the... MORE

Unintended Consequences, Chapter 4386

Regulation
David Henderson
In today's Wall Street Journal, travel reporter Scott McCartney has a story that is rife with unintended consequences of government policies. Titled "From Paradise to Hellish Hours on the Tarmac," it's a story about passengers kept on Delta flight #510... MORE

Luck, Wealth, and Immigration

Cross-country Comparisons
David Henderson
In his column in yesterday's New York Times, Cornell University economist Robert Frank writes: Another important message of recent research is that a person's salary depends far more on where she is born than on her talent and effort. For... MORE

Emmanuel Saez's Medal

Income Distribution
David Henderson
Berkeley economist Emmanual Saez has won the 2009 John Bates Clark Medal, awarded bi-annually by the American Economic Association since 1947 to "that American economist under the age of forty who is judged to have made the most significant contribution... MORE

Richard Epstein on Happiness, I

Behavioral Economics and Rationality
David Henderson
"I'll be miserable for five years as long as you make me wealthy." I've always been a fan of Richard Epstein's thinking. I hadn't known, however, that he had thoughts on the "happiness" literature. I learned a lot about much... MORE

Tyler Hits a Home Run

Growth: Causal Factors
David Henderson
This piece by Tyler Cowen is a beautiful combination of clarity and passion. I knew that Tyler is a very good writer: I had no idea that he is a great writer. This is great writing. One highlight: In this... MORE

Arnold on Health Insurance

Economics of Health Care
David Henderson
In a post last week, my fellow co-blogger, Arnold Kling, writes about Obama OMB director Peter Orszag's thoughts on controlling health care costs. I think Orszag misses an important point and so does Arnold. First, Orszag. He takes as given... MORE

Notes from the Monterey Tea Party

Politics and Economics
David Henderson
On April 15, I went to one of the few demonstrations I've ever been to: the Monterey, California Tea party. I didn't know what to expect. It happened on what seemed like the coldest day of the year. The temperature... MORE

Democratic Senator Jay Rockefeller has introduced a bill that would give presidents the power to shut down the Internet. It was introduced on April 1, but it appears to be serious. According to the eweek article above: According to the... MORE

Tea Parties Never?

Fiscal Policy
David Henderson
I've decided not to go to any of the tea parties this Wednesday. My reason is that some of the people who have been advertising them don't agree with me on everything. And some of the people who will be... MORE

A Price on Integrity

Economic Philosophy
David Henderson
In Peggy Noonan's latest weekly column in the Wall Street Journal, she quotes theologian Michael Novak's encomiums to capitalism. The quotes reminded me of an event I spoke at some years ago. The Intercollegiate Studies Institute had sponsored the event... MORE

Will David Friedman Revise his Book?

Public Goods
David Henderson
David Friedman's The Machinery of Freedom is one of my favorite all-time books making the case for freedom. I like it on at least four grounds: (1) it's tightly written, which reflects David's tight thinking, (2) it shows a great... MORE

Obama's View of Service

Politics and Economics
David Henderson
In a strange ad on TV, President Obama encourages us to serve. My purpose in this post is not to make a point I have already made elsewhere (here and here), namely, that everyone who produces a product or a... MORE

Bob Lucas's Talk

Fiscal Policy
David Henderson
Bob Lucas's talk at the Council on Foreign Relations is well worth reading. Here are some of the nuggets. After pointing out that the forecasted rate of growth of nominal GDP for 2009 is zero percent, he states: So if... MORE

J.P. Morgan v. Obama

Central Planning vs. Local Knowledge
David Henderson
It isn't that common any more to find evidence of one of the bailed-out banks making a good decision with its money in the face of government pressure. But the weekend Wall Street Journal reported on such a case. J.P.... MORE

Response to Susan Lee

Monetary Policy
David Henderson
Economist and economic journalist Susan Lee has written an attack on Alan Greenspan and a review of John Taylor's recent book that is implicitly a response to my defense of Greenspan and review of Taylor's book. You can read both... MORE

Short Debate with Jane Orient, M.D.

International Trade
David Henderson
I have long been a fan, at a distance, of Jane Orient, who has carried on a years-long battle against government regulation of health care. (I note, though, that I have never seen her state her opposition to government licensing... MORE

My Daughter's Thoughts on Economic Policy

Public Goods
David Henderson
My wife and I were cleaning out a closet last weekend and came across some of our daughter Karen's writing from elementary school. This is a letter that she wrote to President Clinton on May 26, 1994. She was nine... MORE

Econo-Spirit

Regulation
David Henderson
His view is that most people who complain about Spirit fail to grasp how it's different from other airlines -- like visiting Wal-Mart and expecting Nordstrom-level service. You want Spirit's fares? You'll have to play by Spirit's rules. This is... MORE

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