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David Henderson: August 2009

An Author Archive by Month (23 entries)

Tyler Cowen, Milton Friedman, and Bailouts

Monetary Policy
David Henderson
In my responses (here and here) to Tyler Cowen's posts (here and here) on whether Milton Friedman would have supported the bailout of banks, I let myself be distracted by Tyler's use of the word "pretend." I accused Tyler of... MORE

Morley Safer Celebrates An Entrepreneur

Human Capital: Returns to entrepreneurs, skills, etc.
David Henderson
in this 60 Minutes segment. This joyous man, Forrest Bird, celebrates his inventions, his life, his pretty young wife, and his wealth. One of my favorite excerpts: And standing tall among them, all 6'4" of him, is Forrest Bird. His... MORE

Dr. Ouelett on Canada's Medicare

Economics of Health Care
David Henderson
Canadian Defender of Medicare Admits that Waiting Lists in Canada are Long Early this morning (PDT), C-SPAN carried an interesting interview and call-in show with Dr. Ouelett, outgoing president of the Canadian Medical Association. Although Ouelett defended Medicare, Canada's system... MORE

Andy Roddick's Economic Literacy

Revealed Preference
David Henderson
Economist blogger Craig Newmark has linked to a hilarious Andy Roddick press conference. Roddick is so refreshing, answering questions honestly rather than doing the evasion and bulls**t that so many people at press conferences do. There's something else to note... MORE

How American Health Care Killed My Father

Economics of Health Care
David Henderson
Not my father: David Goldhill's father. In this stemwinder, Goldhill goes through some of the wacky incentives with which our health care system is laced. The title is somewhat misleading: although he does establish that American health care killed his... MORE

Tyler Cowen's Response

Monetary Policy
David Henderson
On this blog a couple of days ago, I challenged Tyler Cowen on two issues. He responded to both in the comments section of my post and on his own blog today. His responses on both are unsatisfactory. Here's why.... MORE

Kennedy and Airline Deregulation

Regulation
David Henderson
My Hoover colleague, Thomas G. Moore, has a letter on his office wall from Senator Kennedy thanking him for his contributions to transportation deregulation. As many bloggers have noted (here and here), the late Senator Kennedy had a large role... MORE

Torture: Find the Missing Cost

Cost-benefit Analysis
David Henderson
On his blog yesterday, Jeffrey Miron does a rough cost-benefit analysis of torture; I basically agree with his quick analysis. He ends as follows: In that case, the cost-benefit evaluation of torture is trivial: it has certain costs, such as... MORE

Caplan's Talk in Sweden

Economic Education
David Henderson
There is more than one way to make economics fun, and I hope that future research will compare and contrast the effectiveness of different approaches. Personally, however, I embrace blunt delivery of economic principles, shocking examples, and ridicule of popular... MORE

Cash for Clunkers in Action

Politics and Economics
David Henderson
This video, and many like it, easily available on YouTube, would have Bastiat rolling over in his grave. As Bastiat put it, "destruction is not profitable" (1.18), at least not for society as a whole. The person in the video... MORE

Tyler Cowen on Pretense

Politics and Economics
David Henderson
On his blog today, Tyler Cowen, who does not usually use harsh language, does use it when referring to libertarians. He writes: By the way, some libertarians like to pretend that Milton Friedman blames the Fed for "contracting" the money... MORE

The Best Question I Heard Yesterday

Macroeconomics
David Henderson
I sat in on Jeff Hummel's graduate course in Monetary Theory at San Jose State University last night. In the first part of the lecture, Jeff gave a quick tour through macroeconomics: the various schools of thought plus what various... MORE

Correction on Corporate Campaign Contributions

Politics and Economics
David Henderson
How's that title for alliteration? On his blog today, Tyler Cowen repeats a standard mistake made by many, including many in the media, about political contributions by U.S. corporations. With the tag line, "Which firms give the most to politicians?,"... MORE

What Would Coase Say?

Property Rights
David Henderson
Ronald Coase won the Nobel prize for, in part, what has become known as the Coase Theorem. According to this theorem, if people could bargain at low cost, there would be no problem of externalities and, indeed, the outcome would... MORE

Why oh Why Can't We Have a Better Press Corps?

Politics and Economics
David Henderson
Those who read Brad DeLong's blog will recognized his oft-asked question. Here I'm asking it regarding the alleged Lockerbie bomber. Like many Americans, I was incensed when I first heard that he would be released--for compassionate reasons, of all things.... MORE

Correction on Krugman

Macroeconomics
David Henderson
On May 18, in discussing Paul Krugman's analogy between a baby-sitting coop and the general economy, I wrote, quoting my Reason review of Krugman's The Return of Depression Economics: But nowhere does Krugman mention that another way to solve a... MORE

Medical Care Tidbits from a Left-Wing Conference Call

Economics of Health Care
David Henderson
Usually, my blog posts have a policy point to them, implicit or explicit. This one doesn't. It's straight reporting on something that I found interesting. Yesterday, I was on a media conference call in which the speakers were Roger Hickey... MORE

Cash for Clunky Ideas

Cost-benefit Analysis
David Henderson
Cash for Clunkers Destroys Wealth Under the current so-called "Cash for Clunkers" program, people who have owned a car for at least a year that gets below 18 miles per gallon can turn in the car as trade for a... MORE

Hummel Predicts U.S. Government Default

Fiscal Policy
David Henderson
San Jose State University economist Jeff Hummel, in Econlib's feature article, predicts that the U.S. government will default on its debt. The other option he considers is that the federal government will monetize its debt. The problem with this second... MORE

Rose D. Friedman, RIP

International Trade
David Henderson
As many of you have heard, Rose Friedman died yesterday of heart failure. She was a sweet and graceful, but tough, lady. I first met her at the 1974 Austrian Scholars' conference in South Royalton, Vermont. I sat with her... MORE

Hugh Grant on Ends and Means in Medical Care

Economic Philosophy
David Henderson
Warning: Spoilers for the movie, Extreme Measures. In the 1996 movie, Extreme Measures, Hugh Grant discovers a plot to purposely destroy the health of healthy homeless men in order to use them for medical experiments. He confronts the doctor who... MORE

Market Failure or Market Success?

Political Economy
David Henderson
(I got back from Minaki, Ontario last night.) The textbook I use for a Cost/Benefit Analysis course I teach is Public Finance, 8th edition, by Harvey S. Rosen and Ted Gayer. There's much good in that book. I particularly like... MORE

Best Books on Health Care

Economics of Health Care
David Henderson
Reader Hume asked: What is (are) the definitive free market health care book(s)? Thanks for any recommendations. "Definitive" is tough. It's hard to be definitive in one book. And the ones I recommend are not entirely pro-free market. But these... MORE

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