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David Henderson: February 2015

An Author Archive by Month (23 entries)

William McGurn's Analogy

Liberty
David Henderson
In a piece titled "Snow(den) blind: Libertarians' telling 'hero'," William McGurn, a former George W. Bush speechwriter and Wall Street Journal columnist, and currently editorial page editor of the New York Post, writes: The libertarians who champion Snowden will claim... MORE

Various friends on Facebook have been venting, quite justifiably, about the Federal Communications Commission's vote to regulate the Internet as a public utility. Some of the more extreme venters have claimed that it will slow down communication and reverse much... MORE

McCloskey on Piketty

Books: Reviews and Suggested Readings
David Henderson
I'm starting to work on a paper that I'll give at the APEE (Association for Private Enterprise Education) meetings in Cancun in April. The working title for the paper, although I might change it when it comes time to submit... MORE

The Minimum Wage and Monopsony

Labor Market
David Henderson
I promised a few weeks ago to "write a further note explaining a more-sophisticated way of understanding the harmful effects of the minimum wage." This isn't it. The reason is that three issues came up in the comments and e-mails... MORE

Prison Sentences Much Longer than Juries Would Like

Economics of Crime
David Henderson
Jacob Sullum, over at Reason's Hit and Run blog, has a very interesting post about a federal judge in Cleveland who, after a jury found a man guilty of receiving, possessing, and distributing child pornography, polled the jury for the... MORE

From 2007 to 2012-13, The Income Share of Top 1% Fell

Income Distribution
David Henderson
The share of income (including capital gains) held by the top 1 percent grew from 10 percent in both 1960 and 1980 to 21.5 percent in 2000. Since then, it fell to under 17 percent in 2002 before rising to... MORE

The Fatal Conceit in Foreign Policy

Central Planning vs. Local Knowledge
David Henderson
A fellow free-market-oriented economics blogger, whom I respect but whom I won't name because I also respect Facebook privacy, wrote the following on Facebook: I guess I disagree with standard libertarian view on this [ISIS]. Libertarians, like progressives, do not... MORE

Major Improvements in Our Lives

Economic History
David Henderson
Michael D. Thomas, an economics professor at the Heider College of Business at Creighton University in Omaha, Nebraska, reported on Facebook an interesting conversation he had with a student this week. It led to a more interesting set of comments... MORE

Is Inequality Bad for Babies?

Income Distribution
David Henderson
Here is where inequality comes in--if when Chen and co-authors look at children born to advantaged individuals (meaning married, college-educated and white) in the US, they survive at the same rates as their counterparts in Austria and Finland. But the... MORE

Answering Paul Krugman's Challenge on Inequality

Income Distribution
David Henderson
And challenging Paul to step up. Paul Krugman writes: So, can anyone show me an example of a prominent Republican politician proposing anything that would reduce after-tax-and-transfer inequality? Bank shots don't count -- saying that slashing food stamps will help... MORE

Eric Posner's Tin Ear

Labor Market
David Henderson
Legal scholar Eric Posner has written a piece on Slate defending various restrictions on students' speech. Robby Soave, at Reason's Hit and Run blog, has a good critique of much of Posner's article. But I want to point out a... MORE

The Iron Law of You

Behavioral Economics and Rationality
David Henderson
How Russ Roberts Can Change Your Life I recently sent off my review of Russ Roberts' book How Adam Smith Can Change Your Life. The publication I sent the review to is a quarterly and so it should run in... MORE

Allen Wallis vs. David Henderson on Amnesty

Labor Market
David Henderson
I was talking to a fellow academic economist today who is also a strong critic of military conscription. He had read my post in which I discussed my disagreement with the late W. Allen Wallis about amnesty for draft dodgers.... MORE

The Incredible Chinese Contract Manufacturers

International Trade
David Henderson
Contract manufacturers make products for other companies that prefer to focus on product design and marketing. In China, "you can find a specialist in any product," said Stephen Maurer, a Shanghai-based managing director at consulting firm AlixPartners. "You want a... MORE

"Canadians have told us loud and clear: advertising is part of the spectacle" associated with the [Super Bowl] game, Jean-Pierre Blais, chairman of the Canadian Radio-television and Telecommunications Commission, said Thursday [January 29, 2015]. This is from Paul Vieira,... MORE

Hell Nyet, We Won't Go

Labor Market
David Henderson
The late Milton Friedman was the one of the strongest and most eloquent opponents of military conscription. In all my conversations with him, though, and in all of his writing on the draft, I don't recall whether he took a... MORE

Jonathan Gruber on Sin Taxes

Behavioral Economics and Rationality
David Henderson
I found an interesting article on sin taxes written by MIT economist Jonathan Gruber. It's titled "Taxing Sin to Modify Behavior and Raise Revenue." When I want an article for my class on Cost/Benefit Analysis that is written by someone... MORE

A Local's Defense of Property Rights

Property Rights
David Henderson
I live in coastal California, where defenses of property rights are few and far between. That's why I was heartened by this cover story in our local left-wing newspaper, the Monterey County Weekly. It's titled "A longtime Carmel Valley activist... MORE

Reply to Student on Minimum Wage

Labor Market
David Henderson
Two weeks ago today, I gave a talk at Susquehanna University in Selinsgrove, Pennsylvania. I had a good time, by the way, and I estimate that, in the midst of a small snow storm, over 150 students and faculty attended.... MORE

Decisions and Outcomes

sports economics
David Henderson
UPDATE BELOW In yesterday's post in which I applied the Third Pillar of Economic Wisdom to some decisions made near the end of the Superbowl game, I didn't challenge the conventional wisdom that say that Seahawks coach Pete Carroll made... MORE

Seattle Seahawks' Many Margins

sports economics
David Henderson
Pillar #3. Economic thinking is thinking on the margin. If you think that the tools of economics don't apply to yesterday's exciting Superbowl, then you're mistaken. Consider one of the last plays, the one all the commentators were talking about... MORE

Are Competition and Cooperation Opposites?

Competition
David Henderson
In short, real-world examples of "cooperation" are often not as selfless as, say, volunteering to donate blood or anonymously sending cash to a charity. Instead, real-world cooperation is often enforced by a group of peers, using a combination of economic,... MORE

The Jevons Fallacy

Energy, Environment, Resources
David Henderson
Noah Smith writes: And while our use of natural gas and coal doesn't feed the coffers of unsavory regimes like Russia and Saudi Arabia the way our use of oil does, it's still the case that these energy sources are... MORE

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