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David Henderson: October 2014

An Author Archive by Month (27 entries)

About That 97 Percent

Energy, Environment, Resources
David Henderson
I've posted before (here and here) about the John Cook study that purports to find that 97% of climate scientists believe that humans are the main cause of global warming. Now Richard Tol, a professor of the economics of climate... MORE

Henderson on Minimum Wage for Prager University

Price Controls
David Henderson
Prager University has published a beautiful graphic-filled video on the minimum wage with me as the "talent." You can see it here or here.... MORE

Is Violence Against Women Ever OK?

Economics of Crime
David Henderson
Of course, it is. I'm glad that co-blogger Bryan Caplan has introduced us to Scott Alexander. I had never come across him before, but I found most of the long piece that Bryan referred to refreshingly thoughtful. There is so... MORE

John Goodman on Why We Have Political Stability

Public Choice Theory
David Henderson
One person who does understand economics and who frequently writes approvingly of Roosevelt's approach to politics is Paul Krugman. In The New York Times last Friday he had this to say: "... the political right has always been uncomfortable with... MORE

Teaching the Children by Example

Economic Philosophy
David Henderson
Here's a letter I had published in today's Monterey Herald. What's important is not so much the measure being debated and voted on, but the way the local school district used our money. It was the lead letter in the... MORE

Who Will Build the Roads?

Central Planning vs. Local Knowledge
David Henderson
Is that even the right question? Often, when believers in economic freedom advocate economic freedom, questioners and skeptics ask us, "But if you didn't have government doing it, who would build the roads?" My guess is that most such... MORE

Henderson on Piketty, Part 4

Income Distribution
David Henderson
Here's the next installment from "An Unintended Case for More Capitalism," my long review in Regulation of Thomas Piketty's Capital in the Twenty-First Century: How does Piketty handle this serious problem? [The problem that his proposed tax on capital would... MORE

I'm 90 Percent American and 10 Percent Canadian

Behavioral Economics and Rationality
David Henderson
You can take the boy out of Canada, but you can't (completely) take Canada out of the boy As a U.S. federal employee, I'm going through a security clearance for the first time in years. The guy who came to... MORE

I was on the road from Sunday a.m. to late last night and thus my sparser than usual blogging. I taught classes in Patuxent River, MD on Monday, Norfolk, VA on Tuesday, and Arlington, VA on Wednesday, with lots of... MORE

Progress on OTC Contraceptives

Economics of Health Care
David Henderson
In February 2012, I posted a proposal that the federal government allow contraceptives to be sold over the counter. I wrote: Nevertheless, there is a way that the federal government now cuts access to contraceptives in a way that substantially... MORE

Henderson on Piketty, Part 3

Income Distribution
David Henderson
More excerpts from my recently published review of Thomas Piketty's Capital in the Twenty-First Century. For those who are worried about growing wealth inequality because their own wealth is not growing, there is a simple solution: save more and invest... MORE

I have not posted on that sweet man, Leonard Liggio, who died this week. It's partly because co-blogger Alberto Mingardi already has and partly because, while thinking about what to say, I came across a video by Tom Palmer. The... MORE

A Stigler Story

Economic Philosophy
David Henderson
And now for something completely different. I ended my Wall Street Journal piece on Jean Tirole with the following paragraph: If George Stigler were alive today, he would probably recognize, in Jean Tirole, a kindred spirit. In 1950 Stigler advocated... MORE

Jean Tirole on Scaling Back Government

Fiscal Policy
David Henderson
Around the same time, Canada cut government expenditure by 18.9% without social turmoil - and without greatly reducing health, justice, or housing programmes. They did this while maintaining tax levies, so the result was a reduced public deficit and falling... MORE

Henderson on Tirole

Regulation
David Henderson
But they do not commit the mistake of thinking that regulators are necessarily better than firms in setting prices. Consider the recent issue of interchange fees (IF) in payment-card associations like Visa and MasterCard. Many regulators have advocated government regulation... MORE

Henderson on Piketty, Part 2

Books: Reviews and Suggested Readings
David Henderson
In Piketty's view, if someone's share of wealth stays constant, he cannot be better off, even if wealth has increased. Yesterday I highlighted the opening of my lengthy published review of Thomas Piketty's Capital in the Twenty-First Century. Here's the... MORE

Henderson on Piketty, Part 1

Books: Reviews and Suggested Readings
David Henderson
My long review of Thomas Piketty's Capital in Twenty-First Century is finally out. It is titled "An Unintended Case for More Capitalism." Over the next few days, I'll be highlighting various parts of my review. Here's the first highlight: Unlike... MORE

Unclear Thinking About Income Inequality

Income Distribution
David Henderson
I wanted to let you know that on Wednesday, October 22, Intelligence Squared US will hold a debate on the motion "Income Inequality Impairs The American Dream of Upward Mobility." This is the opening sentence of a note I received... MORE

Maskin's Failure

Finance
David Henderson
UPDATE BELOW In particular, if I'm a bank and I'm making risky loans, I have an incentive, if I can, to make those loans using other people's money, in other words to make highly leveraged loans. But when I do... MORE

Pot Calling the Kettle . . . White?

Labor Market
David Henderson
After years of playing down the problem, technology companies like Google, Facebook and Apple now say they're serious about improving the gender and ethnic diversity of their work forces and corporate boards. Recent data from those companies and others like... MORE

Lemieux: Let's Lose the "We"

Economic Philosophy
David Henderson
One can barely read a newspaper or listen to a politician's speech without hearing the standard "we as a society" or its derivatives. "You know, we're going to have to make some choices as a society," said President Barack Obama... MORE

Can a Principled Person "Rise Above Principle?"

Economic Philosophy
David Henderson
In a recent critique of Richard Epstein's call for another U.S. military intervention in the Middle East, I wrote the following at the end of my piece: One issue I did not address was the issue of whether President Obama... MORE

Happy Birthday, Leland Yeager

International Macroeconomics: Exchange Rates, International Debt, etc.
David Henderson
A regular reader of Econlog told me that while he likes my obituaries of famous economists, it would be nice to pay tribute to older accomplished economists while they're still alive. Here is my first. Yesterday was Leland Yeager's 90th... MORE

Jeff Hummel's Case for Martin Van Buren over Tyler

Public Choice Theory
David Henderson
Last weekend, I posted about who should be on Mt. Rushmore. In the comments, there was discussion about who was the greatest American president. Ivan Eland, not a commenter but a friend who has written a book on the subject,... MORE

The Wonder of Markets

Growth: Causal Factors
David Henderson
"Blue Jeans meeting." That's what I think showed up on my cell phone at about 6:20 this morning. I didn't know what it meant and I ignored it. It turned out that it was a reminder to talk to an... MORE

Ron McKinnon, RIP

Obituaries
David Henderson
Ron McKinnon, the Stanford University economist who specialized in international finance, has died. According to his colleague John Shoven, Ron "fell on an escalator at SFO about twelve days ago and was badly injured." I didn't know Ron well but... MORE

The person who wants to get you fired is not your friend. Daniel S. Hamermesh and Elena Stancanelli recently presented data showing that Americans work longer hours, and more night and weekend hours, than Europeans. I'm not familiar with Professor... MORE

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