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David Henderson: March 2013

An Author Archive by Month (34 entries)

David Stockman Screeches

Monetary Policy
David Henderson
David Stockman, Reagan's first director of the Office of Management and Budget, has a strange op/ed in today's New York Times and "Angus" (aka Kevin B. Grier) does a nice take-apart. I don't agree with all of his criticisms, but... MORE

Yglesias on Freedom in the 50 States

Economic Philosophy
David Henderson
The Mercatus Center, for which I have done a few studies, is about to release a study of the degree of freedom in the 50 states of the union. I'll probably have more to say once it's released, but enough... MORE

Hummel on Bernanke's New Central Planning

Monetary Policy
David Henderson
The first two lectures cover the origins and history of the Fed. Mr. Bernanke identifies three primary functions of central banks: to conduct monetary policy (i.e., controlling of the supply of money by setting interest rates); to serve as lenders... MORE

Scott Winship on Inequality

Income Distribution
David Henderson
The idea that our economy is held back by inequality is echoed in the claims of some of the nation's most prominent economists. Princeton professor (and Nobel laureate) Paul Krugman and David Card of the University of California, Berkeley, contend... MORE

Vignettes from the Armen Alchian Memorial

Economic Methods
David Henderson
On Saturday, I attended the memorial service at UCLA for the late Armen Alchian. I arrived about an hour and a half early and so I was there when Jerry O'Driscoll came in, saying that he and Walter Williams were... MORE

Some Economics of Wal-Mart

Labor Market
David Henderson
Last month, I received an e-mail from a high school student named Kelsey Stolz and I took some time to reply. I think our correspondence would be of wider interest. Here it is. Kelsey: I am a junior in high... MORE

Armen Alchian Memorial

Economic Education
David Henderson
In a few minutes I'm flying down to Los Angeles to attend a memorial service for the late Armen Alchian. Most of the short appreciation I wrote out covers issues I've already talked about in the bio linked above and... MORE

Friday Night Video: Henderson on War for Oil

Energy, Environment, Resources
David Henderson
A friend of mine recently found a link to a video that a man named Jim Turney did of a talk I gave in Monterey in February 1991. It's at the annual convention of the Libertarian Party of California. The... MORE

Corinne Sauer on U.S. Subsidies to Middle East

Political Economy
David Henderson
After getting various comments on my post about ending U.S. government aid to the Middle East, I asked Corinne Sauer if she would read the comments and give me her take. She has done so. To recall, Corinne Sauer is... MORE

Brick's Insight on Childhood

Economics of Education
David Henderson
I watched a rerun of one of my favorite TV shows, "The Middle," last night and one segment was so good that I DVRed it and then transcribed the dialogue. (See here for some of the highlights.) In case you... MORE

"Get Married and Stay Married"

Cost-benefit Analysis
David Henderson
I'm glad that co-blogger Bryan Caplan raised the issue of the marriage premium. When I was writing a review of Dwight Lee's and Richard McKenzie's excellent book, Getting Rich in America: 8 Simple Rules for Building a Fortune and a... MORE

Was the Iraq War About Oil?

Energy, Environment, Resources
David Henderson
Reader warning: If you do not "do" nuance, then please don't read this post and especially don't comment. On this 10th anniversary of the U.S. government's invasion of Iraq, there have been many articles assessing the war. I wrote a... MORE

The Hoover/Mellon Tax on Checks

Money
David Henderson
It's heartening to see that virtually everyone who has blogged on the proposed tax on bank accounts in Cyprus has pointed out that this is a set-up for a run on Cyprus banks. I have little to add to that... MORE

End Military Aid to Israel and Egypt and ...

Game Theory
David Henderson
Corinne and Robert Sauer, founders of the Jerusalem Institute for Market Studies, have taken up a proposal put forth in 2003 by Erez Raphaeli, an independent researcher. He contended that ending the nearly $5 billion in annual U.S. military aid... MORE

Cowen on Immigration

Labor Mobility, Immigration, Outsourcing
David Henderson
Tyler Cowen's latest New York Times column, "A Profession with an Egalitarian Core," is one of the best short pieces he's written in the last year or so. HIs overall point is that economists have been on the forefront in... MORE

Scott Sumner on Real Causes of Business Cycles

Macroeconomics
David Henderson
Scott Sumner has a first-rate post this morning and one of the most important ones you can read if you want a quick look at why real changes in the economy rarely cause large business cycles. Here are the first... MORE

The video of the John Stossel show for February 28 has now been released and is here. In the fourth segment, starting at about the 26:00 point, Veronique de Rugy discusses France's failure to cut government spending and I talk... MORE

Yglesias on Narcissism

Economic Philosophy
David Henderson
UPDATE: Paul Krugman makes the point that Matt Yglesias and I make. Personal Experience and Principle Various friends on Facebook this morning were celebrating the fact that Republican Senator Robert Portman has come out (no pun intended) in favor of... MORE

In early January, I wrote a post whose subtitle was "Pssst: Someone tell the Republicans they won." The gist of it was that the Republicans got the Bush tax cuts made permanent for all but the very highest-income Americans. An... MORE

That is the title of an article by Michael Sivy sent to me by a frequent reader of Econlog. I have heard other people ask the same thing, so I'll answer. First, let me point out that authors of popular... MORE

Rand Paul's Filibuster

Central Planning vs. Local Knowledge
David Henderson
Every once in a while, I depart from strictly economic education and information, the purpose of Econlog, to comment on important things that are happening in the political world. My latest article on antiwar.com discusses the Rand Paul filibuster. This... MORE

Designing Men vs. Spontaneous Order

Economics of Health Care
David Henderson
The man of system, on the contrary, is apt to be very wise in his own conceit; and is often so enamoured with the supposed beauty of his own ideal plan of government, that he cannot suffer the smallest deviation... MORE

New York City's plan to ban large sugary drinks from restaurants, movie theaters and other establishments was invalidated by a judge on Monday, the day before the new law was to take effect. State Supreme Court Justice Milton Tingling in... MORE

Thomas C. Leonard on Nudge

Behavioral Economics and Rationality
David Henderson
See Update Below. While web surfing the other day, I came across work by Princeton economist Thomas C. Leonard. There's a lot of good work there. In this post, I want to highlight his review of Nudge by Richard Thaler... MORE

Dr. Henderson in Africa

Economics of Health Care
David Henderson
There has been a lot of discussion on this blog lately about why there are so few doctors in America. (If you want to follow the discussion in order, see here for Garett, here for me, and here for Bryan).... MORE

Friday Night Video: Henderson on Economic Myths

Fiscal Policy
David Henderson
Last November, in his final show before the Presidential election, John Stossel devoted most of the hour to election issues. One segment was on economic myths that the candidates believe or, at least, say they believe. Sallie James of Cato... MORE

"One might as well be hanged for a sheep as a lamb." Antiproliferators are playing counterproductively with the status issue in another way by seeking to dumb down the definition of a nuclear weapon state. Commonly, this designation has been... MORE

Highlights from Hummel's Macro Class

Macroeconomics
David Henderson
In 2009, I taught Jeff Hummel's Masters class in Macro at San Jose State University while he was on sabbatical. I did so to relearn macro and to learn what's new in macro. It worked. However, the segment I was... MORE

Michael Barone's Mistaken Prediction

Regulation
David Henderson
We should be happy when "Ain't it Awful" Predictions Don't Come True Often, when I make the points I made in my recent post, "Why Am I So Cheerful?", people hand me their distress. That is, they argue back about... MORE

The Robber Barons: Neither Robbers Nor Barons

Economic History
David Henderson
But a careful reading of the economic research on the "robber barons" leads to a diametrically opposite conclusion: the so-called robber barons were neither robbers nor barons. They didn't rob. Instead, they got their money the old-fashioned way: they earned... MORE

Christina Romer on the Minimum Wage

Labor Market
David Henderson
Former Obama economist Christina Romer--she was the chairman of the President's Council of Economic Advisers--has a good, though not excellent, piece on the minimum wage in the New York Times. In it, she departs from her ex-boss's views and points... MORE

The Air Travel Revolution

Regulation
David Henderson
Derek Thompson's "How Airline Ticket Prices Fell 50% in 30 Years (and Why Nobody Noticed)" is a nice round-up of the facts about the effects of airline deregulation. People who know the story well--I guess Derek would call us "nobodies"--won't... MORE

Why Am I So Cheerful?

Economics and Culture
David Henderson
After we taped a segment for the John Stossel show last Tuesday, John and I took the subway to his beautiful apartment on the Upper East Side, where he had invited me to dinner with him and his lovely wife.... MORE

Garett Jones on the Supply of Doctors

Labor Market
David Henderson
Which is the binding constraint? My co-blogger Garett Jones posted this week on the supply of doctors, suggesting a new way of thinking about them. He used the idea of opportunity cost: if potential doctors face a high opportunity cost... MORE

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