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David Henderson: December 2012

An Author Archive by Month (27 entries)

My Inflation Bet with Bob Murphy

Monetary Policy
David Henderson
I was going to wait until I officially won my inflation bet with Bob Murphy before announcing it here, but because Brad DeLong and Paul Krugman, each in his own special style, have already announced my win, I'll address it... MORE

I used to think that the title of this blog post derived from baseball great Yogi Berra. But I have also seen it attributed to Danish physicist Neils Bohr. (By the way, have you ever noticed that when people quote... MORE

Pinpointing Gun Households: A Research Idea

Economics of Crime
David Henderson
I'm guessing that most of you have heard about the Westchester County, New York newspaper that published a comprehensive list of all the households in Westchester, Rockland, and Putnam counties that were listed with the government as containing a resident... MORE

Henderson on Stossel Pre-Election

Economic Education
David Henderson
In the last week of October, Sallie James of Cato and I taped a segment with John Stossel. The whole show is up on line and the segment we are on starts at about the 29:45 point and goes to... MORE

Merry Christmas to All

David Henderson
I couldn't figure out how to rotate: the picture not the cat.... MORE

Payday for Behavioral Economics

Behavioral Economics and Rationality
David Henderson
Do retirement savings policies--such as tax subsidies or employer-provided pension plans--increase total saving for retirement or simply induce shifting across accounts? We revisit this classic question using 45 million observations on savings for the population of Denmark. We find that... MORE

The Joy of Microwaves

Cost-benefit Analysis
David Henderson
When our microwave oven broke down a few weeks ago after almost 15 years of faithful service, it got me thinking about how valuable microwaves are to my family, which led to thinking about the consumer surplus we get from... MORE

Henderson on Zingales

Books: Reviews and Suggested Readings
David Henderson
My review of Luigi Zingales's book, A Capitalism for the People, has been published in the latest issue of Policy Review. One of the best parts of his book is the content on cronyism. In case you think this review... MORE

Henderson on Medicare: Bay Area NBC Affiliate

Economics of Health Care
David Henderson
Here is a segment on the Bay Area NBC affiliate based, in part, on an interview with me about the Medicare spending in our future. Hat Tip to the reporter, Sam Brock, for doing his homework.... MORE

Free Speech for Me but Not for Thee: The Case of Erik Loomis

Economics and Culture
David Henderson
Second Update: Henry Farrell of Crooked Timber has commented below, ending with: "I would be grateful if you could change the original post to reflect these facts." I won't change it, but I will alert readers to his comment. I... MORE

Does An Increase in Supply Lead to Higher Prices

Economic Education
David Henderson
Last week, I received an e-mail from the son of a friend of mine. The son is a student at a school in the Northeast. Here's the relevant part of the e-mail: I took a globalization class this past semester... MORE

Lincoln: Public Choice 101

Public Choice Theory
David Henderson
Honestly, Abe! My long-time friend, Tom Nagle, wrote the following letter to American Way, the American Airlines in-flight magazine, after reading an article on the making of the film, Lincoln. I convinced him that the probability of his getting the... MORE

Update on OTC Contraceptives

Economics of Health Care
David Henderson
In February, I wrote: Nevertheless, there is a way that the federal government now cuts access to contraceptives in a way that substantially raises the cost. Were the government to get rid of the regulation that does this, women's access... MORE

Postrel on Progress

Growth: Causal Factors
David Henderson
I wish I had been aware of Virginia Postrel's excellent piece on technological progress when I wrote my post yesterday on electricity. In it, she takes on the views of Jason Pontin, my former editor at the Red Herring, and... MORE

ELECTRICITY!

Growth: Consequences
David Henderson
In Praise of Modern Technology Early Saturday afternoon, the electric power at our home in Pacific Grove went out. We were out at lunch when it happened and when I came home, I thought it was a neighborhood-wide thing, something... MORE

Betting: Automatic Weapons vs. Rental Cars

Economics of Crime
David Henderson
One thing my co-blogger Bryan and I agree on is that proposing a bet is a good way of making people fess up to whether they're really confident, especially about their extreme statements. Bryan might have said it differently than... MORE

Murphy on Frum and Global Warming

Energy, Environment, Resources
David Henderson
Earlier this week, Robert Murphy, a frequent writer of Econlib Feature Articles, had an excellent critique of a piece on global warming by David Frum. Were I to quote all the good parts, I would end up quoting almost the... MORE

The Economics of "Right to Work"

Labor Market
David Henderson
I was at a conference last weekend at which one of the participants, from Michigan, was excited about the Michigan legislature's passage of a "right to work" law. I started to share his excitement. On the other hand, some libertarian... MORE

WSJ's "Roll Your Own" Deficit Reduction

Fiscal Policy
David Henderson
The Wall Street Journal has on its site a list of options for reducing the projected $1-trillion-plus federal budget deficit for 2020. It's a list of cuts in discretionary spending, cuts in so-called "entitlement" spending, and increases in taxes. I... MORE

People hate the property tax more than other taxes. There are fairly regular "tax revolts" against the property tax, many of which are based on local or statewide referenda. Property tax limits, whether imposed by referenda or by state legislatures,... MORE

How starting with a progressive tax system and cutting everyone's taxes by the same percent gives you a regressive tax cut. We all know what a regressive tax is: it's one that takes a higher percentage of income from low-income... MORE

Blaming the Person Offering you the Best Deal

Labor Market
David Henderson
I saw a woman on Stossel tonight who works for McDonald's. She said she was paid $8 an hour, but felt she deserved $15. I thought: Wait a minute, McDonald's isn't the only company not paying you $15 an hour:... MORE

Friday Night Video: Harvard Tries to be Hip

Economics and Culture
David Henderson
This doesn't quite match the U.S. Olympic swim team version, but it's not bad. Check out Greg Mankiw boogeying at about the 3:00 point. Go Greg!... MORE

Often over the last few years, President Obama has blamed the Bush cuts for a large part of the deficit. He's right. But he often gave the impression that they went primarily to "the rich." Of course, he didn't mean... MORE

Competition is a Hardy Weed

Business Economics
David Henderson
Pillar #10 of my "Ten Pillars of Economic Wisdom" is: Competition is a hardy weed, not a delicate flower. I thought of that when I read Steven Denning's recent article on the recent bankruptcy of Monitor. It's titled, "What Killed... MORE

Popcorn Pork

Fiscal Policy
David Henderson
As the late Professor Olson might have observed, the popcorn subsidy will likely become fiscal law because almost no one, other than the popcorn growers, will notice. Being a small lot, they have all the incentive they need to lobby... MORE

Mr. Sumner Goes to Washington

Public Choice Theory
David Henderson
Scott Sumner has posted an interesting story about his trip to Washington last week. Some highlights along with my comments in square brackets: 6. During the day I attended a bunch of foreign policy panels. It was interesting to see... MORE

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