Bryan Caplan, David Henderson, and Arnold Kling

David Henderson: October 2011

An Author Archive by Month (32 entries)
Reason TV has up two parts of an interview that Nick Gillespie did recently with interviewee Ken Burns. Burns has a new 3-part PBS series out on Prohibition, which my economist/historian friend, Jeff Hummel, tells me is excellent. These interviews... MORE

Pre-Tax and Post-Tax Candy on Hallowe'en

Economic Education
David Henderson
Teaching kids about taxes and welfare using Hallowe'en candy Comedian Tim Slagle, whom for some reason I had never heard of, has an excellent video out in which he uses Hallowe'en candy to illustrate taxes. A lot packed into 3... MORE

My Segment on Stossel

International Trade
David Henderson
Here's my segment on Stossel. It's the one where he interviews me alone about: Buy American, fair trade, and "sweatshops." But it doesn't have the segment where all 4 segments, including me, respond to the audience and challenge each other.... MORE

Me on Stossel

Upcoming Events
David Henderson
I just found out that the Stossel show I taped was on this week, not next week as I had thought. It will be shown again tonight at midnight EDT and 9:00 p.m. PDT. I address "Buy American," fair trade,... MORE

Bet on Euro

Optimum Currency Areas
David Henderson
I made a bet with Iain Murray, a delightful guy from the Competitive Enterprise Institute with whom I spoke at a big Hillsdale College event in Atlanta today. We were both speakers on the program. He told me he expected... MORE

Spot the Reporter's Bias

Fiscal Policy
David Henderson
I don't usually gasp when I read the newspaper because not much surprises me any more. But Juliet Williams of Associated Press made me gasp. In an article on California governor's proposals to rein in the pensions of government workers,... MORE

Bill Niskanen, RIP

Public Choice Theory
David Henderson
William A. Niskanen, an economist who held an amazing number of different interesting jobs, died yesterday. Early in his career, he was a Robert McNamara whiz kid. His experience in the bureaucracy led him to write his early contribution to... MORE

The Doctor Might See You Now: Here Comes Rationing

Economics of Health Care
David Henderson
In The Doctor Might See You Now: the Supply Side Effects of Public Health Insurance Expansions (NBER Working Paper No. 17070), Craig Garthwaite finds that after the 1990s implementation of the State Children's Health Insurance Program (SCHIP)--a partnership between federal... MORE

Hooper on Personalized Drugs vs. the FDA

Economics of Health Care
David Henderson
My sometimes co-author Charley Hooper has an interesting post on how FDA regulation will hobble the shift to personalized drugs. Two key paragraphs: If each drug takes $1 billion to reach the market and 10 million people use it over... MORE

Are the Illegal Drug Suppliers Really Cartels?

Business Economics
David Henderson
I was watching a TV show last night about some of the ingenious ways that drug suppliers use to move drugs across the border: well-built tunnels, a crane lifting a vehicle over the wall, a catapult heaving drugs over the... MORE

My Optimisms and Pessimisms

Growth: Consequences
David Henderson
Some of the comments on Bryan's post about what he is optimistic or pessimistic about motivated me to give a much shorter list. I've always thought I was an optimistic person. Then I met Bryan. Still I have a few... MORE

Mankiw's Strange View of Japan

Fiscal Policy
David Henderson
In his New York Times column today, Greg Mankiw writes: The economists in the Obama administration are also well aware of the Japanese experience [slow growth since the early 1990s]. That is one reason they are pushing for more stimulus... MORE

A Tax and Transfer Company with an Army

Fiscal Policy
David Henderson
That's my relabeling for accuracy of an otherwise-excellent Paul Krugman post today. Two excerpts from his post: But this seems like a good time to repeat, once again, the truth about federal spending: Your federal government is basically an insurance... MORE

Immigration: Taxes vs. Fees

Labor Mobility, Immigration, Outsourcing
David Henderson
Bryan posted a provocative item yesterday in which he made the case for a 10-percentage-point higher income tax rate on immigrants vs. an up-front fee. I have two comments. But before doing so, I emphasize that Bryan and I are... MORE

My Friend Sarah

Economic Education
David Henderson
I still think this is one of the best 3-minute videos on economics.... MORE

Abba Lerner on Consumer Sovereignty

Behavioral Economics and Rationality
David Henderson
One of the deepest scars of my early youth was etched when my teacher told me, "You do not want that," after I had told her that I did. I would not have been so upset if she had said... MORE

Uwe Reinhardt Nails It

Economics of Health Care
David Henderson
I posted recently on John Goodman's and Virginia Traweek's post on nurse practitioners. There ensued on his site a lively debate among those who want to allow more room for NPs to practice and those who don't. Uwe Reinhardt, a... MORE

Krugman on How Blogs Have Changed Economic Debate

Information Goods, Intellectual Property
David Henderson
Second, even for more academic research, the journals ceased being a means of communication a long time ago - more than 20 years ago for sure. New research would be unveiled in seminars, circulated as NBER Working Papers, long before... MORE

Great Moments in Labor Supply

Labor Market
David Henderson
I was watching a recent episode of one of my favorite TV shows, Harry's Law. This line was so good that I paused and wrote it down word for word. A father comes to Tommy Jefferson, upset because his dead... MORE

Free the Nurses--and the Patients

Economics of Health Care
David Henderson
If a natural disaster hit Oregon, the victims would have fared much better. The state's 8,500 nurse practitioners (NPs) are free to come to the aid of people in need of care, with no legal obstruction. In Oregon, nurses with... MORE

More on Kevin Murphy and the NBA

Business Economics
David Henderson
On September 26, I wrote a blog post titled, "Note to David Stern and the NBA: Be Afraid; Be Very Afraid." In it, I noted that the NBA players' union had hired one of the smartest economists in the world,... MORE

The Top 1 Percent Includes You

Growth: Consequences
David Henderson
But if you take a wider and longer view, you reach a striking conclusion: virtually every American who has heard John Kerry or Al Gore speeches is in the top one percent. This includes the middle-class family from Indiana, the... MORE

Russ Roberts on Motivations for Belief

Macroeconomics
David Henderson
Pardon me for coming late to this discussion. I've been sitting on airplanes this week but am now back. Russ Roberts recently wrote: The evidence for the Keynesian worldview is very mixed. Most economists come down in favor or against... MORE

Henderson on Sargent and Sims Nobel

Macroeconomics
David Henderson
"A Nobel for Non-Keynesians," my piece on the Nobel prize winners, Thomas J. Sargent and Christopher A. Sims, ran in the Wall Street Journal today. I wrote it yesterday a.m., which is why I didn't take time to post on... MORE

Robert Solow on Sylvia Nasar

Books: Reviews and Suggested Readings
David Henderson
But this suggested theme does not hold up. The book is not "The Story of Economic Genius" that is promised in the subtitle. It is instead the story of the public and private lives of a handful of major figures... MORE

How Important Was Smoot-Hawley?

International Trade
David Henderson
I used to think that the Smoot-Hawley tariff was the fourth most important cause [of the Great Depression]. But Douglas Irwin's new book, Peddling Protectionism, has convinced me that Smoot-Hawley, though bad, was even less important than I had thought.... MORE

Most of the Devils Are Here

Finance
David Henderson
How did Fannie Mae get such political clout? This is one of the best-told stories in the book. McLean and Nocera tell how a well-connected Democrat named Jim Johnson made Fannie Mae almost invulnerable politically. Johnson, who had been Vice... MORE

The Anti-Terrorist Bureaucracy

Public Choice Theory
David Henderson
Now that the big kahuna -- Osama bin Laden -- has been killed, the "War on Terror" is much less exciting. Even before Osama's demise, experts sent chills through the massive post-9/11 U.S. government anti-terrorism bureaucracies by concluding that the... MORE

Steve Jobs: Insanely Great

Economic History
David Henderson
I woke up in Turkey at 4:00 a.m. Thursday, went to my computer, and found out that Steve Jobs had died. I titled this post as I did because "insanely great" was the term Jobs loved to use to discuss... MORE

Leon Louw's Talk at Mont Pelerin

Economic Philosophy
David Henderson
One of the highlights of the Mont Pelerin Society meetings that are ending in Istanbul tonight was a talk by Leon Louw of the Free Market Foundation in South Africa. Some high points: 1. He led off by stating, "I... MORE

Joshua Hall on the Decline of Conscription

Labor Market
David Henderson
This month's Feature Article on Econlib is "The Worldwide Decline in Conscription: A Victory for Economics?" by Beloit College economics professor Joshua C. Hall. Josh, who is a co-author of Economic Freedom in the World, shows that one component of... MORE

From the Vault: My Response to Victor Fuchs

Economics of Health Care
David Henderson
Stanford University health economist Victor Fuchs wrote an op/ed in the Wall Street Journal on January 26, 1996, titled "The Tofu Triangle." Here is my letter in response. The Journal published it on February 22, 1996, titling it "Equal Justice."... MORE

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