Bryan Caplan, David Henderson, and Arnold Kling

David Henderson: June 2012

An Author Archive by Month (25 entries)

Would Conscription Reduce Support for War?

Public Choice Theory
David Henderson
A number of prominent people in recent years as well as many people I run into in academia have been arguing that one virtue of returning to conscription is that it would put the sons of wealthy and politically powerful... MORE

Where Are We on the Laffer Curve?

Taxation
David Henderson
A cut in federal income tax rates in the US right now would raise taxable income enough so that the annual total tax revenue would be higher within five years than without the tax cut. This is one of the... MORE

Mexico's Economic Growth

Growth: Causal Factors
David Henderson
In the United States, the image of Mexico is abysmal and largely wrong. The average American seems to believe that Mexico is a destitute, quasi-socialist nation with rampant drug violence that is sending waves of illegal immigrants to the United... MORE

I Flunk Horwitz's Doonesbury Contest

Economic Education
David Henderson
Attention undergraduates: Here is an opportunity for you to get published. Take a look at today's Doonesbury as it's chock full of bad economics. I would like to have a contest to see which undergraduate can produce the best response... MORE

Taking Lousy Government for Granted

Public Choice Theory
David Henderson
Their Supreme Gall There are two ways to take lousy government for granted: (1) to understand clearly how lousy, petty, vicious, self-serving, and narcissistic most government is, and (2) to understand implicitly how lousy, petty, vicious, self-serving, and narcissistic most... MORE

Marco Rubio: Trade Agreements Are About Producers

International Trade
David Henderson
One of the hardest ideas for non-economists to get is the idea that a government's unilateral elimination of trade barriers create a net benefit for the people in the country whose government makes the unilateral move. I pointed this out... MORE

Friday Night Video: Greed Is

Economic Philosophy
David Henderson
This is one of the best of Milton Friedman, all in 2.4 minutes. He's not saying greed is good. He's saying greed is. The big question is which institutions harness that greed for good outcomes.... MORE

Anna J. Schwartz, RIP

Money
David Henderson
Anna J. Schwartz, who co-authored A Monetary History of the United States, 1876-1960 with Milton Friedman, died today. She was 96. Their book was a tour de force. They spent years on it in the late 1950s and early 1960s.... MORE

Steve Chapman Publicizes My Bet

Monetary Policy
David Henderson
In his column in the Chicago Tribune today, Steve Chapman publicizes my inflation bet with Bob Murphy: Inflation hawks have been predicting a severe outbreak for years. But David Henderson, an economist at Stanford University's Hoover Institution and the Naval... MORE

A Fiscal History Lesson

Fiscal Policy
David Henderson
The Hoover Institution's on-line publication, Defining Ideas, has published my article, "A Fiscal History Lesson." In it, I retell the story that I told at longer length in my 2010 Mercatus study, "The U.S. Postwar Miracle." Two highlight paragraphs: In... MORE

Rick Berman: Mercenary/Hero for Freedom

Public Choice Theory
David Henderson
"If this country is worth saving, it's worth saving at a profit." --H.L. Hunt This is a quote from one of the best books of the 1970s, The Machinery of Freedom, by David Friedman. It comes at the end of... MORE

Krugman on Inflation

Macroeconomics
David Henderson
Paul Krugman writes: I've been writing about how macroeconomic reality under Ronald Reagan didn't actually match the myth, and many people are inevitably upset. And one of the things they tend to bring up is the hoary old myth that... MORE

David Stockman's Time Horizon

Social Security
David Henderson
"I'm just not going to spend a lot of political capital solving some other guy's problem in 2010." --David Stockman, in William Greider, "The Education of David Stockman," Atlantic, December 1981. One of the biggest "inside politics" articles in 1981... MORE

This is from a talk I gave on my book, The Joy of Freedom: An Economist's Odyssey, less than 3 months after 9/11. HT to Jim Cardoza.... MORE

Merit, Ethics, and Reward

Business Economics
David Henderson
I've enjoyed the back and forth between co-blogger Bryan Caplan and Trevor Burrus. I'm starting to think that a good line for Vizzini to have used in "The Princess Bride," besides "Never get involved in a land war in Asia,"... MORE

Tear Down These Walls

Labor Market
David Henderson
My article, "Tear Down These Walls," based on my blog post of the same name, is now out in The Freeman. One highlight: Immigration reform would dwarf any other measure economists have considered to help people in poor countries. Take... MORE

Wal-Mart's Positive Effects

Business Economics
David Henderson
Devin G. Pope and Jaren C. Pope have recently had a Working Paper published by NBER. It's #18111 (May 2012) and it's cleverly titled, "When Walmart Comes to Town: Always Low Housing Prices? Always?" Here's an ungated version. In it,... MORE

Elinor Ostrom, RIP

Central Planning vs. Local Knowledge
David Henderson
As many bloggers have noted, Elinor Ostrom, who co-won the Nobel Prize in economics, died today of cancer. Here's the post I wrote after she won the prize, along with Oliver Williamson. And here are two paragraphs from my Wall... MORE

Rejoicing Over Class Cutting

Economics of Education
David Henderson
Bryan Caplan poses again the puzzle about students, human capital, and signaling. I won't repeat it because he says it so well. One of his commenters, Cameron Mulder, has an interesting piece of evidence against the idea that students rejoice... MORE

Matt Zwolinski on Sweatshops

Labor Market
David Henderson
Was Schindler Wrong? Philosophy professor Matt Zwolinski has an excellent video on sweatshops at LearnLiberty.org. LearnLiberty.org has given me permission to put it here. I basically like the video, although I have one question and one disagreement. My question is... MORE

Means Testing Isn't "Awesome"

Fiscal Policy
David Henderson
Over two years ago, Bryan Caplan posted on why means testing is "awesome". He didn't actually make that case, though. The case he actually made is that means testing is a good idea. "Awesome" is a step above "a good... MORE

Sheldon Richman, with whom I seem to agree well over 90 percent of the time, writes the following: Generations of government intervention have reduced workers' bargaining power in favor of employers. Any interference with the free market that suppresses competition... MORE

Do Economists Study Money?

Money
David Henderson
Non-economists often think that "economists study money." The reality, though, is that most academic economists hardly think about money at all. Whether we're talking about tariffs, wages, Social Security taxes, or pollution, the analysis (though often couched in dollar terms... MORE

Pooling Risks

Economics of Health Care
David Henderson
John Goodman posted yesterday on another post by law professor Jill Horwitz and economics professor Helen Levy. In their post, Professors Horwitz and Levy defend Obamacare from various criticisms. I won't bother repeating John Goodman's arguments. Rather, what I note... MORE

Vignettes from the Harold Demsetz Conference

Economic Philosophy
David Henderson
As a student of UCLA economist Harold Demsetz, I was invited to a conference in his honor. It occurred on Friday and Saturday. My travel and attendance there, plus my time spent on my Saturday lunch tribute to him, are... MORE

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