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David Henderson: July 2010
An Author Archive by Month (25 entries)
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July 28, 2010
International Trade
David Henderson
I'm going on vacation Thursday morning here. I'll be there until August 15. Sometime tomorrow and for a four-hour layover in Denver on Thursday, I'll pre-program some posts on things I've been thinking about. I'll also go on line from... MORE
July 27, 2010
Regulation
David Henderson
The above title should have been the title of my previous post. The title I gave it, "Mark Thoma Doesn't Get It," was unnecessarily provocative, as one of my co-bloggers has pointed out. I know the myth of male power,... MORE
Regulation
David Henderson
Government as Deux Ex Machina Almost all economists recognize that there are some market failures that must be corrected by government intervention, the disagreement is over their prevalence. Some economists see widespread and costly market failures, and that government can... MORE
Labor Market
David Henderson
I said in my previous blog that I would give an unspecified prize to the best proposal for getting rid of a government ban on some peaceful activity. The prize, I said, would likely be simple recognition. I was heartened... MORE
July 25, 2010
Regulation
David Henderson
That's not the title of a piece in today's San Francisco Chronicle by my friend and Hoover colleague, Joe McNamara. But it could be. One excerpt: Who would buy pot on dangerous streets if they could get it at regulated... MORE
July 24, 2010
Labor Market
David Henderson
My wife and I were driving by a P.F. Chang's restaurant in Monterey today and we recalled how much hassle the city government gave the restaurant when it wanted to put a sculpture of a horse in front. The city... MORE
July 23, 2010
Property Rights
David Henderson
Sometimes it seems as if the world has turned upside down. Check out this debate between Pamela Geller, an Objectivist who likes the work of Ayn Rand [her blog is www.atlasshrugs.com] and Ibrahim Ramey of the Muslim American Society. Ms.... MORE
July 21, 2010
Labor Market
David Henderson
You ever get the feeling that some of these guys aren't the sharpest scimitars in the shed? That's what Gene Healy asks in his excellent article on terrorism. Here's another one: The notion of "savvy and sophisticated" Islamist supervillains is... MORE
Fiscal Policy
David Henderson
Arnold Kling and I have been discussing what an incredible counterexample to the Keynesian model the post-WWII years are. It occurred to me to check what Keynesians were predicting would happen after the war ended. Here's one of them: When... MORE
July 20, 2010
Politics and Economics
David Henderson
Although I haven't found time to listen to more than about 20 of Russ Roberts's Econtalk podcasts, one of his latest, his interview with our Hoover colleague Paul Gregory, is one of the best I've heard. Here are some of... MORE
July 19, 2010
Behavioral Economics and Rationality
David Henderson
In his post earlier today, Bryan writes: It's possible that immigrants will vote to destroy the system that attracted them, but unlikely. Immigrants come here because they prefer life here to life at home. It wouldn't take a marketing genius... MORE
July 17, 2010
Monetary Policy
David Henderson
One of the most misused terms nowadays, even by economists, is the term "hyperinflation." People have actually referred to the high inflation of the late 1970s as hyperinflation. It wasn't even close. Here's what Michael Salemi wrote in his article... MORE
July 16, 2010
Economic Philosophy
David Henderson
A number of commenters found, as did I, that Bryan's conservative missionary statement was quite powerful. (I'll give my own criticism or two in a later post but that's not what I want to focus on here.) The question is:... MORE
July 15, 2010
Fiscal Policy
David Henderson
Arnold laid out one of the two ways the CEA estimated the effects of Obama's "stimulus" package. Greg Mankiw has a particularly nice statement about the other way. Mankiw writes: That is, the CEA took a conventional Keynesian-style macroeconomic model... MORE
July 14, 2010
Finance: stocks, options, etc.
David Henderson
When I teach why futures markets are so neat--they help people hedge against risk--I lay out numerical examples with oil or corn. Some of the students always wonder a little about how the actual transactions are made and I tell... MORE
July 13, 2010
Public Goods
David Henderson
Like co-blogger Arnold, I enjoyed reading the discussion among Brink Lindsey, Jonah Goldberg, and Matt Kibbe about the Tea Party Movement and whom libertarians should ally with. All three made good points but none of the three addressed a key... MORE
July 12, 2010
Economics and Culture
David Henderson
In a blog post earlier this month, Bob Murphy told of his dilemma with his 5-year-old son and race. Rather than repeating the short story here, I'll let you click on the link. The one part I'll repeat is that... MORE
July 8, 2010
I was going to write on the tax advantage to LeBron James in going to income-tax-free Florida until I started to research it and see that, earlier today, Aaron Merchak at the Tax Foundation beat me to it. He did... MORE
Fiscal Policy
David Henderson
Arthur Laffer, whose work I've often respected and who, I think, has been underappreciated by the economics profession, has a piece in today's Wall Street Journal on unemployment insurance (UI). It's titled, "Unemployment Benefits Aren't Stimulus." I wish I could... MORE
July 6, 2010
Economics of Education
David Henderson
The General Educational Development (GED) credential is issued on the basis of an eight hour subject-based test. The test claims to establish equivalence between dropouts and traditional high school graduates, opening the door to college and positions in the labor... MORE
July 5, 2010
Growth: Causal Factors
David Henderson
The neoliberal policy revolution that began in the late 1970s might be the most important recent event in world history. But it remains a curiously elusive and underreported phenomenon. Many on the left question the motives behind the reforms, as... MORE
July 4, 2010
Regulation
David Henderson
First, the Environmental Protection Agency can relax restrictions on the amount of oil in discharged water, currently limited to 15 parts per million. In normal times, this rule sensibly controls the amount of pollution that can be added to relatively... MORE
July 3, 2010
Public Choice Theory
David Henderson
When I teach various concepts, I try to connect them with specific stories because I find that students remember stories. This is especially important when the concept is labeled with a very abstract label. Take "time inconsistency." When I teach... MORE
July 2, 2010
Fiscal Policy
David Henderson
Paul Martin, the Minister of Finance for Canada from 1993 to 2002 and Prime Minister from 2003 to 2006, was the person most responsible for bringing down government spending and government debt as a percent of GDP. Between FY 1993-94... MORE
July 1, 2010
Cost-benefit Analysis
David Henderson
Suppose that you want to build a house, and you solicit two builders for estimates. Builder A's eight employees can build the house in three months for $300,000. Builder B's four employees can build the same house in the same... MORE
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