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David Henderson: May 2016

An Author Archive by Month (29 entries)

Ozimek on Hanauer

Price Controls
David Henderson
A few days ago, a regular reader of Econlog wrote me to suggest that I do a critique of a long piece written by Nick Hanauer, the person who made a few billion dollars as a tech investor. Hanauer has... MORE

Robert Murphy on Voting

Public Choice Theory
David Henderson
A few days after I posted my critique of Jim Harper's post advocating voting, Bob Murphy posted an excellent critique that affirms my point and goes further. Recall Jim Harper's statement that even though your vote is highly unlikely to... MORE

Americans, on Average, Gain Big from Trade with China

International Trade
David Henderson
Update below The rise in exports from China has been one of the most significant events in international trade in recent decades. This trend has accelerated since that country's entry into the World Trade Organization (WTO) in 2001. Even before... MORE

My Response to Scott Sumner

Economic Philosophy
David Henderson
I'm still scratching my head at co-blogger Scott Sumner's recent post titled "You're not special." It seems like a combination of extreme subjectivism, denial of subjectivism, putting his thumb on the obvious, and argument from authority. Extreme Subjectivism Scott writes,... MORE

To Vote or Not to Vote?

Public Choice Theory
David Henderson
One of my favorite writers and thinkers on the Cato blog, Cato at Liberty, is Jim Harper. He posted yesterday on voting, titling his piece "Don't Not Vote." He makes some good points but goes too far. The issue for... MORE

An Economist's Case for a Non-Interventionist Foreign Policy

Unintended Consequences
David Henderson
When I posted about a talk I was about to give a week or so ago, a number of readers asked if I could post the talk. There was no video, but I used my iPhone and the recording came... MORE

Must a Business Serve the Whole Public?

Regulation
David Henderson
Former New Mexico governor Gary Johnson, running for the Presidential nomination of the Libertarian Party, wrote on Facebook: In a nationally-televised debate among three of the Libertarian candidates for President (A debate that should, by the way, have been more... MORE

The other story was about a policy change achieved through executive action: The Obama administration issued new guidelines on overtime pay, which will benefit an estimated 12.5 million workers. What both stories tell us is that the Obama administration has... MORE

My Daughter the Juror

Revealed Preference
David Henderson
My daughter, Karen Henderson, a resident of San Francisco, recently served on a California jury for almost two weeks for $15 a day. She is self-employed and her opportunity cost, therefore, was quite high. But as she said in a... MORE

Did Global Warming Help Cause California's Drought?

Energy, Environment, Resources
David Henderson
President Obama and Governor Brown believe the science is settled and carbon emissions lead to droughts. Before we test the veracity of their beliefs, consider that many of the warmest places on Earth, such as rainforests, are both warm and... MORE

Morley Safer, RIP

Obituaries
David Henderson
CBS Sixty Minutes reporter Morley Safer died today. He was one of my favorites. He had that smile of doubt when he was hearing someone he interviewed tell him what he thought was a spin. He was also a fellow... MORE

Why Bernie Doesn't Quit: Public Choice 101

Public Choice Theory
David Henderson
Jesse Walker, over at Reason's Hit and Run, just posted an excellent piece making an obvious point. I'm not undercutting him here: part of why it's obvious is that he says it so well. Here's the key part: Sometimes they... MORE

We're Number 10! We're Number 10!

Econlog Administrative Issues
David Henderson
A site called "Intelligent Economist" has posted its ranking of the "Top 100 Economics Blogs of 2016." And guess what? We're number 10. Here's the post. The site does not make clear how it came to that ranking. We're number... MORE

Is Drug Trafficking Inherently Violent?

Economics of Crime
David Henderson
Andrew C. McCarthy, a former federal prosecutor whose writing I have sometimes agreed with and found well-reasoned (see this, for example), writes the following: The bill that GOP leadership is currently joining with Democrats to try to ram through Congress... MORE

Don't Confuse Government Support with Charity

moral reasoning
David Henderson
Both Prime Minister Justin Trudeau and Alberta Premier Rachel Notley have announced that they will match Red Cross donations for Fort McMurray dollar-for-dollar. So people who consider giving money to the Red Cross for Fort McMurray know that their dollar... MORE

Reason TV's excellent video tells the story of Howard Root's fight against a federal government charge that, if successful, could have put him in prison. His "crime?" Telling doctors that a medical device that could be used for an... MORE

Peace Pick of the Week! Saturday, May 14, 3:00 - 4:30 pm, An Economist's Case for a Non-Interventionist Foreign Policy. David Henderson applies economic analysis, combined with history, to make the case that the United States should have stayed out... MORE

Supply Management or Cartel Enforcement?

Regulation
David Henderson
The question is not whether to manage supply but who is to manage supply? Should producers of milk, eggs, cheese, and poultry be allowed to manage their supplies or should marketing boards, using the power of the state, do it... MORE

Munger on Division of Labor

Growth: Causal Factors
David Henderson
In the early 1800s, David Ricardo developed a theory of comparative advantage as an explanation for the origins of trade. And this explanation has substantial power, particularly in a pre-industrial world. Assume, for example, that England is suited to produce... MORE

Fewer Judges, More Justice

Economics of Crime
David Henderson
Ten percent of federal judgeships are currently vacant, yet little is known on the impact of these vacancies on criminal justice outcomes. Using judge deaths and pension eligibility as instruments for judicial vacancies, I find that prosecutors decline more cases... MORE

Choose for Yourself, Not Others

Economics of Health Care
David Henderson
Don't let your own perceived limits cause you to use force on others who have different views. Over at Cafe Hayek, Don Boudreaux quoted one of my favorite passages from my book The Joy of Freedom: An Economist's Odyssey: The... MORE

Great Moments in Arguing: Lindsey Graham Edition

Unintended Consequences
David Henderson
Taking the lead in bashing Trump at the Milken conference was South Carolina Republican Lindsey Graham, who on a panel said that his party had "lost its way" in nominating the New York real estate magnate. Referencing Trump's recent lament... MORE

What If Donald Trump Isn't All That Different?

International Trade
David Henderson
I woke up Wednesday morning feeling a little bleak that our two main choices are two really awful candidates: Hillary Clinton and Donald Trump. Many of my libertarian and conservative friends have denounced Trump continuously, both on his policy views... MORE

Public Choice in Foreign Policy

Public Choice Theory
David Henderson
1.3 million is greater than 58,000 One of public choice economists' biggest insights is why, in a representative democracy, concentrated interest groups often gain at the expense of the dispersed consumers or taxpayers. Our favorite examples tend to be the... MORE

Correlation versus Causation

Economic Methods
David Henderson
This is from here. HT to Timothy Taylor.... MORE

Co-blogger Scott Sumner has written an excellent post this morning pointing out that the Keynesian model per se is not a big government model. He is right, for the reasons he gives. When the late Ben Rogge came to give... MORE

The End of British Coal

Energy, Environment, Resources
David Henderson
I was going through my pile of unread Wall Street Journals over the weekend and found this news story: Scott Patterson, "End of an Era: England Closes Its Last Deep Coal Mine," December 11, 2015. Here's one key paragraph: The... MORE

Anger B&B

Public Choice Theory
David Henderson
But the standard rendition of the B&B [Bootleggers and Baptists] story leaves out something that bootleggers and Baptists need to achieve their goals: emotion. One of the common emotions is anger, and the group whose anger is most important is... MORE

More from Lester Thurow

Books: Reviews and Suggested Readings
David Henderson
In my post on the late Lester Thurow on April 15, I promised to post more from his book The Zero-Sum Society. Here are some further excerpts. Thurow as Ludwig von Mises Proposition VII: Regulation Leads to Regulation Since individual... MORE

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