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David Henderson: October 2015

An Author Archive by Month (24 entries)

George Selgin on Bernanke's Spinning

Politics and Economics
David Henderson
Moreover, thanks to Bloomberg's having forced the Fed to disclose the contents of all three Maiden Lane portfolios, we now know that, by April 3, 2008, when Bernanke made the same "investment grade" claim in testifying before the Senate Banking... MORE

Heather MacDonald on the Drug War

Economics of Crime
David Henderson
Heather MacDonald, the Thomas W. Smith fellow at the Manhattan Institute for Policy Research, recently testified before the Senate Judiciary Committee. The second last sentence of her closing paragraph gives the gist of her message: In closing, let me say... MORE

Less Output or Cartel Output: That is the Issue

Cost-benefit Analysis
David Henderson
Or, at least, it's one of the most important issues. As soon as I arrived in the United States in September 1972, I started paying close attention to California politics. I was fascinated by the number of initiatives on the... MORE

Paul Krugman writes that Marco Rubio and other Republican candidates are proposing wildly unaffordable tax cuts whereas the two main Democratic candidates are not. And it is true that unless the Republican candidates get serious about substantially cutting the size... MORE

Rubio versus Harwood and Rubio versus Free Labor Markets

Labor Mobility, Immigration, Outsourcing
David Henderson
Last night's Republican debate was quite interesting. I can't do justice to all of it in one post, but here are two highlights that involve Marco Rubio. I said yesterday that leftist John Harwood was a strange pick to be... MORE

The Stupid Party

Politics and Economics
David Henderson
The old line among libertarians circa the late 1970s was that Democrats are the evil party and Republicans are the stupid party. I think both parties have covered both adjectives in recent years, what with wars, torture, drone killings based... MORE

Boudreaux on Economic Principles

Economic Education
David Henderson
Questioner: How's your wife? Henny Youngman: Compared to what? I thought of this old Henny Youngman joke while reading Don Boudreaux's excellent post this morning, "On the Principles of Economic Principles." Don is responding to a statement from blogger Ezra... MORE

Kevin Williamson on Human Progress

Growth: Causal Factors
David Henderson
I've got to admit it's getting better. Over at National Review, Kevin Williamson has an excellent article on human progress. Its title: "Take a Bow, Species." Were I to excerpt the really good parts, I would probably end up excerpting... MORE

Reagan Learned

moral reasoning
David Henderson
My favorite paragraph I've read all week (on the aftermath of the Abel Archer exercise) is from then President Ronald Reagan, writing in his diary at the time: He wrote in his diary on Nov. 18, 1983: "I feel the... MORE

Raj Chetty on Income Mobility

Income Distribution
David Henderson
Mr. Chetty and the economists he works with tackle problems that seem intractable, and offer hopeful prescriptions. Consider economic inequality--the income spread between rich, middle-class and poor. Mr. Chetty addresses the issue indirectly. He examines income mobility, which he defines... MORE

Canada's Election Outcome

Public Choice Theory
David Henderson
Co-blogger Scott Sumner writes: Yesterday's win for the Canadian Liberals was a huge win for libertarian policies in North America: If Scott had simply inserted the word "some" before "libertarian," I would agree with him. He has correctly identified the... MORE

First-Order Effects Are First

Behavioral Economics and Rationality
David Henderson
Co-blogger Bryan Caplan's excellent post on forecasting this morning reminds me of a similar point that co-author Charley Hooper (CLH) and I made in our book, Making Great Decisions in Business and Life. Here it is: First Find First-Order Effects... MORE

Meer vs. Galbraith on the $15 Minimum Wage

Labor Market
David Henderson
I finally got around to watching the debate about the minimum wage between Jonathan Meer and Jamie Galbraith. Meer is an economics professor at Texas A&M University and Galbraith is an economics professor in the Lyndon B. Johnson School at... MORE

Deaton on Medicare and Life Expectancy

Public Choice Theory
David Henderson
The recent Nobel Prize winner, Angus Deaton, in his book, The Great Escape, writes: The very wealthy have little need for state-provided education or health care; they have every reason to support cuts in Medicare and to fight any increases... MORE

Henderson on Deaton

Labor Mobility, Immigration, Outsourcing
David Henderson
Hoover has published my longer piece on Nobel Prize winner Angus Deaton. It's titled "A Nobel for Humanity." It's not my title, but I like it better than the one I gave it, just as I liked the Wall Street... MORE

The Deaton Paradox

Fiscal Policy
David Henderson
Yesterday I was busy writing the piece on Nobel Prize winner Angus Deaton for the Wall Street Journal. Here's the link, although realize that it's gated. The good news: Hoover asked me to do a longer piece, which will be... MORE

Comparative Phooling

Books: Reviews and Suggested Readings
David Henderson
Bad government is itself a product of phishing and phoolishness, for "we are prone to vote for the person who makes us the most comfortable," even when that person's decisions are effectively bought by special interests. This is a quote... MORE

"The likelihood of Hitler being able to accomplish his goals would have been greatly diminished if the people had been armed," he told CNN on Thursday. This is from a BBC report titled "Ben Carson defends linking gun control to... MORE

Gross Evidence on Immigrant Voting

Public Choice Theory
David Henderson
One of the concerns I have had about substantially expanding immigration to the United States, Canada, and other countries is that a large number of immigrants, not understanding the important role of economic freedom in raising our standards of living,... MORE

Mark Thoma on NAFTA

International Trade
David Henderson
Yesterday, economist Mark Thoma wrote a piece on Donald Trump's claim that NAFTA was a disaster. It's titled "Is Donald Trump right to call NAFTA a 'disaster'?" I thought Thoma would say it wasn't a disaster because, however imperfect NAFTA... MORE

Kling on Phishing for Phools

Books: Reviews and Suggested Readings
David Henderson
Phooey The other Feature Article on Econlib today is "Phools and Their Money," Arnold Kling's review of Phishing for Phools: The Economics of Manipulation & Deception by George A. Akerlof and Robert J. Shiller. A highlight, after Arnold gives their... MORE

Robert Murphy on Minimum Wage Studies

Labor Market
David Henderson
Many economists who currently support large minimum wage hikes claim that the best research now shows that such an increase would not cause significant drops in employment. However, their conclusion relies on a dubious reading of the literature. Dozens of... MORE

Henderson on Thaler's Misbehaving

Books: Reviews and Suggested Readings
David Henderson
University of Chicago economist Richard H. Thaler, probably the most important founder of "behavioral economics," is a fantastic storyteller. In his latest book, Misbehaving, he tells, roughly chronologically, of his initial doubts about the standard economist's "rational actor" model and... MORE

Saturday Morning Video: Love Gov on Government Spying

Economics and Culture
David Henderson
This morning I watched the final short video in the 5-part Love Gov series. Now that I've seen them all, I would rank them, from top to bottom, 1, 2, 5, 3, 4. In this one, Alexis finally develops some... MORE

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