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David Henderson: March 2014

An Author Archive by Month (25 entries)
In response to something I wrote in January, I received a letter last week, postmarked January 30. Well played, U.S. Postal Service. It's like many I've received over the years when the writer doesn't like an article or blog post... MORE

Lessons from "The Lives of Others"

Regulation
David Henderson
Our economic lives. A local libertarian group showed the movie, "The Lives of Others," at the Marina Public Library last night. The group invited me to give a few remarks after the showing. What motivated them to show the movie... MORE

From the Vault: Reply to the Village Voice

Regulation
David Henderson
In writing a tribute to the late Murray Weidenbaum last weekend, I came across a piece I wrote in 1979, a piece that had caused me to get in touch with Murray. I titled it "Reply to the Voice." It... MORE

Pillars of Economic Wisdom in Action

Economic Education
David Henderson
I wrote earlier about a special readings course I put together for people who had done well in my Cost/Benefit course but wanted more economics than they get in our MBA curriculum. As a kind of celebration, a number of... MORE

Michael Cannon's Cannon

Economics of Health Care
David Henderson
Cato Institute's health economist Michael Cannon is the lead economist in a legal case that takes on the IRS. The Affordable Care Act (ACA), aka Obamacare, grants tax credits to low-income people who buy health insurance in state-run exchanges. There... MORE

Endogeneity and the Drug War

Economics of Crime
David Henderson
Why the things that happened during the drug war are not a good argument FOR the drug war. And the things that happened BECAUSE of the drug war are a fortiori not an argument for the drug war. Last fall,... MORE

Murray Weidenbaum, RIP

Obituaries
David Henderson
Murray Weidenbaum, Ronald Reagan's first chairman of the President's Council of Economic Advisers, died on Thursday. The New York Times obit on him is excellent, uncovering some nuggets about him that I hadn't known. Check out the picture in the... MORE

Victory at Oberlin

Economics of Health Care
David Henderson
After my debate on Obamacare at Oberlin College on Wednesday, dozens of cheering students came running to the stage, lifted me up and carried me away because of my total victory over my opponent, Ted Marmor. OK, well that's not... MORE

David Friedman on Bill Nordhaus; Timothy Taylor on Bad Academic Writing

Energy, Environment, Resources
David Henderson
David Friedman has lately been picking apart a piece written by Yale University's Bill Nordhaus in the New York Review of Books two years ago. I did so in my class on Energy Economics two years ago, drawing on this... MORE

Reminder: My Debate at Oberlin

Upcoming Events
David Henderson
The debate is with Ted Marmor of Yale University. Topic: Affordable Health Care: A Debate: A discussion of the Affordable Care Act and alternatives with David Henderson and Ted Marmor Time: Wednesday, March 19 at 7:30pm to 8:30pm Place: Nancy... MORE

Pikkety and Inequality: My Reply to Commenters

Income Distribution
David Henderson
In response to my recent post on the New York Times interview with Thomas Piketty, a number of people commented relatively late in the game. For that reason, few regular readers will likely see their comments and so I'm choosing... MORE

Milton and Rose Friedman on Inequality

Income Distribution
David Henderson
Last week my group of students who work their way through readings had our last formal meeting. Good news: they decided over drinks afterwards that they want to continue the meetings informally next quarter and one of them suggested calling... MORE

Proposed Questions for Oberlin Debate

Economics of Health Care
David Henderson
I announced back in February that I will be debating Yale University's Ted Marmor on health care, with emphasis on the Affordable Care Act, aka Obamacare. I asked you for proposed questions because the debate isn't structured as a traditional... MORE

Francis A. Walker

Labor Market
David Henderson
In his excellent post on Francis Walker's 1896 piece attacking open borders, Bryan didn't mention just who Francis Walker was. I'm sure Bryan knows, but it might help other readers to know. Walker was not just some nativist rube or... MORE

Piketty's Dodge on Inequality

Income Distribution
David Henderson
New York Times economics columnist Eduardo Porter recently interviewed economist Thomas Piketty on his work on income and wealth inequality. Piketty, in case you haven't followed, has been documenting the increase in income and wealth inequality in the richer countries,... MORE

Adam Smith Bio Corrected

International Trade
David Henderson
It is a mistake to say that Adam Smith unambiguously favored retaliatory tariffs. Russ Roberts called my attention to a mistake in my bio of Adam Smith in The Concise Encyclopedia of Economics. I had bought the conventional wisdom on... MORE

I have a special course I'm leading this quarter for students who did well in a previous course on Cost/Benefit Analysis. We work our way through articles--sometimes technical articles from economics journals and more often articles by economists in the... MORE

Is Outrage at the Top 1% Distracting Us?

Income Distribution
David Henderson
I worry about growing income inequality. But I worry even more that the discussion is too narrowly focused. I worry that our outrage at the top 1 percent is distracting us from the problem that we should really care about:... MORE

Schuck on Why Government Fails So Often

Books: Reviews and Suggested Readings
David Henderson
I'm working my way through Peter H. Schuck, Why Government Fails So Often. It's due out next month from Princeton University Press and I'm writing a review of it. I'm over halfway through and I'm loving it. Schuck does a... MORE

Was Bork Right About Mergers?

Business Economics
David Henderson
In a just-published NBER study, "Did Robert Bork Understate the Competitive Impact of Mergers? Evidence from Consummated Mergers," NBER Working Paper 19939, economists Orley C. Ashenfelter of Princeton, Daniel Hosken of the Federal Trade Commission, and Matthew C. Weinberg of... MORE

Caldwell on Hayek's "Consistent" Stories

Austrian Economics
David Henderson
In a fascinating article on why Friedrich Hayek did not write a review of John Maynard Keynes's The General Theory of Employment, Interest, and Money, Hayek expert Bruce Caldwell writes: Perhaps most damning is the tendency of Hayek's stories to... MORE

Media Bias: RT May Have Less Than I Thought

Cross-country Comparisons
David Henderson
Like many Americans, I have been skeptical about RT, the TV network, previously called "Russia Today," that is funded by the Russian government. That didn't stop me from going on the network because I don't have a policy of going... MORE

Henderson on TANSTAAFL

Economic Education
David Henderson
At the start of every class I teach, I give my students what I call "The Ten Pillars of Economic Wisdom." These pillars, I tell them, are the basis for a huge percent of economic analysis and if they master... MORE

Reminiscences of Rogge

Business Economics
David Henderson
UPDATE BELOW: Earlier today over at Cafe Hayek, Don Boudreaux highlighted a quote from the late Benjamin A. Rogge. That brought back warm memories for me. Rogge, who lived from 1920 to 1980, was a libertarian economics professor at Wabash... MORE

1.6%, Not 97%, Agree that Humans are the Main Cause of Global Warming

Energy, Environment, Resources
David Henderson
UPDATE BELOW Mark Bahner, a commenter on my previous post on global warming and on David Friedman's post, has sifted through the data behind John Cook's statement that 97% of climate scientists who stated a position believe that humans are... MORE

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