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David Henderson: June 2010

An Author Archive by Month (27 entries)

Sowell's "Intellectuals and Society"

Books: Reviews and Suggested Readings
David Henderson
My review of Thomas Sowell's latest book, Intellectuals and Society, was published in the latest Regulation. I had previous blogged about it on this site. One benefit of blogging: several commenters found one of Sowell's paragraphs that I quoted plodding... MORE

Don't Ask, Don't Tell

Economic Philosophy
David Henderson
"Worker Bee" Stings the Blogosphere The title I've chosen for this post could have been the title of a short recent piece by self-described "worker bee" economist Kartik Athreya. (The article, titled "Economics is Hard. Don't Let Bloggers Tell You... MORE

Russ Roberts on Hayek

Monetary Policy
David Henderson
Russ Roberts has a nice op/ed on Hayek's main ideas in today's Wall Street Journal. He highlights four contributions of Hayek. I agree with all four, but he gave a poor example for one of them. The four are: 1.... MORE

The Everyday Wonder of Markets

Business Economics
David Henderson
On Friday afternoon, I drove from Monterey to a hotel near the San Francisco airport to give a talk the next morning at an event held by the Free to Choose Network. The event was the Winning Ideas Weekend and... MORE

Bartlett's Final Chapter

Fiscal Policy
David Henderson
My last post on Bruce Bartlett's The New American Economy led, understandably, to a lot of discussion of supply-side economics. I'll deal with that more in future post(s) but meanwhile I'm keeping my promise to post about his last chapter.... MORE

Visualize Growth

Growth: Consequences
David Henderson
You know the bumper sticker I see a lot of in California? It says "Visualize World Peace." A takeoff is "Visualize Whirled Peas." Well, this one helps you visualize the growth of per capita income and of life expectancy. HT... MORE

The Glories of Competition

Business Economics
David Henderson
From today's Wall Street Journal, a front-page article by Geoffrey A. Fowler titled, "Price Cuts Electrify E-Reader Market": Two of the leading makers of electronic-book readers, threatened by the success of Apple Inc.'s iPad, slashed prices Monday in a move... MORE

Rule of Law, 1, Obama 0

Regulation
David Henderson
I've read a lot of judges' decisions, but I've rarely read any that are so blunt as the one issued by Martin Feldman today, a decision that overturns the Obama administration's moratorium on offshore oil drilling. Some excerpts: Much to... MORE

More on Supply-Side Economics

Supply-side Economics
David Henderson
On yesterday's post, Bob Murphy asks: David, what exactly do you mean by saying tax rate cuts didn't increase revenues? Tax revenues did in fact go up (eventually), right? So I assume you mean they didn't go up more than... MORE

Bruce Bartlett on "Starving the Beast"

Taxation
David Henderson
I've posted twice now (here and here) about sections of Bruce Bartlett's book, The New American Economy. I found Chapter 6, titled, "Starving the Beast Didn't Work," quite persuasive. First, Chapter 6. Bartlett deals with the idea, popular with many... MORE

Markets For Everything: North Korean Edition

International Trade
David Henderson
It turns out that the people in red who were cheering for North Korea in their soccer game against Brazil weren't North Koreans at all, but Chinese actors. According to Hunter Stuart in the Huffington Post, the North Korean government... MORE

Joe Barton is Wrong

Politics and Economics
David Henderson
Yesterday, Republican leaders John Boehner, Eric Cantor and Mike Pence issued a statement castigating their fellow Republican Congressman Joe Barton. Barton had apologized to BP's CEO, Tony Hayward, for the shoddy treatment he received from Congressmen of both parties. He... MORE

Bruce Bartlett on Debt Default

Fiscal Policy
David Henderson
On the prospect of U.S. government default on its debt, Bruce Bartlett writes, after mentioning John Tamny: Tamny is not an isolated crackpot; reputable conservative economists have been writing sympathetically about the idea of default for decades. These include Nobel... MORE

It's Official: You Won't be Able to Keep Your Health Insurance

Economics of Health Care
David Henderson
On John Goodman's Health Policy Blog this morning, he cites the federal government's estimate of the percent of employers whose health insurance policies for their employees will not be grandfathered in under the new regulations. His table is quite striking.... MORE

A Beautiful Video

Economics of Health Care
David Henderson
Watch this short video of an 8-month-old baby who is suddenly able to hear. It's heart-warming. This doesn't quite compare, but it reminds me of my father's reaction when, in his mid-50s, he had surgery on his ear. He had... MORE

Values are Subjective

Economic Education
David Henderson
The first day of every econ class I teach, I start with my "Ten Pillars of Economics." Pillar #7 is, "The value of a good or service is subjective." Last night, I went to dinner with two of my star... MORE

Getting Rich by Solving Problems

Human Capital: Returns to entrepreneurs, skills, etc.
David Henderson
One of my favorite parts of Bryan Caplan's book, The Myth of the Rational Voter, is where he talks about the importance of being able to get rich by solving problems. I remembered his statement only approximately but over the... MORE

Kid Takes on Ben Barber

Labor Market
David Henderson
On John Stossel's show last week, a young girl put political scientist Ben Barber on the spot after he had advocated a minimum wage law. It starts at the 37 second point. Notice how clear she is in posing the... MORE

Our Standard of Living

Growth: Consequences
David Henderson
Radio Shack has put its catalogs for 1939 to 2005 on line. They're worth a gander. Choose any date earlier than 10 years ago and you get a feel for just how much our standard of living has increased. The... MORE

Good News from David Friedman

Books: Reviews and Suggested Readings
David Henderson
Earlier this week, David Friedman announced that he is considering a third edition of one of my favorite books ever: The Machinery of Freedom. I'm not a big fan of the title but I love the contents. One of my... MORE

Reynolds: No Evidence for Double Dip Recession

Labor Market
David Henderson
After talking to me about those figures, CNNMoney reporter Tami Luhby wrote, "Though Labor Department statistics say there are 5.5 job seekers for every opening, Reynolds said there is work available if people are willing to relocate or take jobs... MORE

Case for Immigration

Labor Mobility, Immigration, Outsourcing
David Henderson
In this month's Feature Article, Suffolk University economist Ben Powell makes an economic case for immigration. He takes on the following myths: (1) that immigrants are a drag on the economy, (2) that immigrants "take our jobs," and (3) that... MORE

Ludwig von Mises on the Drug War

Regulation
David Henderson
I'm at a weekend conference at which we're discussing various works by economists and philosophers. One of the readings is "The Foundations of Liberal Policy," a chapter in Ludwig von Mises's book, Liberalism: The Classical Tradition, published in 1927. Of... MORE

Free Trade for Gaza

International Trade
David Henderson
Tom Palmer has an excellent post on why it's important to let people in Gaza engage in free trade. Currently, the Israeli and Egyptian governments have extreme restrictions on trade, something I posted on recently. Palmer writes: The trade embargo... MORE

Social Security and Kids

Social Security
David Henderson
In the comments on my post on retirement last week, Chris Koresko asks a good question, writing: Would it make sense to link the size of a retiree's Social Security payment to the number of kids he has in the... MORE

M3 Plummeting

Monetary Policy
David Henderson
The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc. This is from Ambrose Evans-Pritchard in the Telegraph, a British publication. It goes on:... MORE

Hayek on Social Justice

Central Planning vs. Local Knowledge
David Henderson
Yesterday I was reading excerpts from Hayek's Law, Legislation, and Liberty to prepare for a conference this coming weekend in Seattle. Here are some choice excerpts from Hayek's discussion of "social justice." For the same reason that the prices which... MORE

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