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David Henderson: August 2016

An Author Archive by Month (26 entries)

John Kerry, Anti-Terrorist

Behavioral Economics and Rationality
David Henderson
Remember this: No country is immune from terrorism. It's easy to terrorize. Government and law enforcement have to be correct 24 hours a day, 7 days a week, 365 days a year. But if you decide one day you're going... MORE

The Economics of Paid Parental Leave

Labor Market
David Henderson
On her website, Democratic presidential candidate Hillary Clinton calls for "up to 12 weeks of paid family leave and medical leave" for an employee to "care for a new child or a seriously-ill family member." She claimed, in her acceptance... MORE

The Nationalization of U.S. Mortgages

Finance
David Henderson
First, banks have partially withdrawn from the mortgage game after facing swathes of new rules and $110 billion of fines for misconduct. They still own mortgage-backed bonds and they still make home loans to wealthy folk, which they keep on... MORE

Limbaugh Comes Around on Immigration Policy

Labor Mobility, Immigration, Outsourcing
David Henderson
I was driving home from a hiking trip on Friday and tuned into Rush Limbaugh's show for longer than I usually do. (My morning commute is 11 minutes.) He raised an issue I heard him raise a few months... MORE

I was on WRKO radio in Boston this morning discussing the VAT. Here's the link.... MORE

Sunday Reading

David Henderson
On Gary's goofs, smugglers solve alleged public good problem, FDA-caused massive deaths, and reparations from descendants of slave owners. These are some of the most interesting things I found on the web this morning. 1. Robert Murphy on Gary Johnson's... MORE

The Twenty-Niners

Economics of Health Care
David Henderson
"We're Hiring Economics Writers," says the headline of a post at the web site FiveThirtyEight. Good for them. Then they write: This is a part-time staff position (up to 29 hours per week) and does not offer benefits. Any idea... MORE

Do Steps Toward Freedom Create Net Benefits?

Regulation and Subsidies
David Henderson
Noah Smith recently wrote a piece titled "Being an Ideologue Means Never Having to Say You're Wrong." It starts out well. He writes: "Communism would have worked, if the Soviet Union had only tried it for real." I must have... MORE

Social Security Reformer

Social Security
David Henderson
The Committee for a Responsible Federal Budget has come up with a very clever tool. It's called "The Reformer: An Interactive Tool to Fix Social Security." Notice that it's to fix Social Security, not what I would like to see,... MORE

Lester versus DiMicco on NAFTA

International Trade
David Henderson
Simon Lester, at Cato at Liberty, has a telling Twitter discussion with Dan DiMicco of Nucor Steel. DiMicco is an adviser to president candidate Donald Trump. According to Time: He [DiMicco] has been an avid supporter of Trump's trade proposals,... MORE

Working Around FDA Regulation

Regulation
David Henderson
Premium cigar makers, racing to pump out new brands before stricter rules took effect this week, have flooded the market with hundreds of new smokes, some a bit "green," with rough labels--one exec put his daughters to work cutting... MORE

The Case for Low-Income Housing

Central Planning vs. Local Knowledge
David Henderson
Any discussion of trailer parks should start with the fact that most forms of low-income housing have been criminalized in nearly every major US city. Beginning in the 1920s, urban policymakers and planners started banning what they deemed as... MORE

The Ugly Ugly FDA's Cartel Enforcement

Regulation
David Henderson
E-cigarettes do not contain tobacco. They contain nicotine, a chemical derived from tobacco and other plants. Plain English was never a deterrent, though, to regulators on an empire-expanding mission. The Food and Drug Administration this week rolled out new regulations... MORE

The Perverse Death/Estate Tax

Taxation
David Henderson
Paul Krugman recently posted about Donald Trump's proposal for eliminating the death tax, aka the estate tax. But Paul really only scratched the surface. The death tax has a number of perverse effects, none of which Paul discusses. You might... MORE

Common Arguments Against Immigration

Labor Mobility, Immigration, Outsourcing
David Henderson
New research by Harvard professor George Borjas on the effect of the Mariel Boatlift - a giant shock to Miami's labor market that increased the size of its population by 7 percent in 42 days - finds large negative... MORE

My First Seven Jobs

Labor Market
David Henderson
Various friends on Facebook have been posting about their first 7 jobs, but typically without comment. What I would find more interesting, and I encourage you to give your own, is a list of the jobs along with something about... MORE

Fama versus Thaler

Behavioral Economics and Rationality
David Henderson
Normally, when I face a choice between watching a 40-minute video and reading the transcript, I do the latter. My main reason is that I can read the transcript in 5 to 7 minutes. For some reason I made an... MORE

Casey Mulligan Visits Cuba

International Trade
David Henderson
Last month, while on vacation, I missed an excellent trip report by University of Chicago economist Casey Mulligan. He reports the facts seen through the eyes of a first-rate microeconomist. He understands private property and related incentives and the damage... MORE

Friday Night Video: Ben Powell on Sweatshops

Labor Market
David Henderson
This talk by Ben Powell is NOT a home run. It is about 3 or 4 home runs: analysis, data, presentation, humor. It's all there. He gave this talk at the Mises Institute in Alabama late last month. I'm... MORE

Obama: Stop Me Before I Regulate Again

Energy, Environment, Resources
David Henderson
After decades of talk, we finally began to wean ourselves off foreign oil. We doubled our production of clean energy. This is from President Obama's speech at the Democratic National Convention, a speech that most commentators rightly hailed as optimistic.... MORE

A Carbon Tax Is Not a Price

Taxation
David Henderson
But carbon already has a price, or, more exactly, multiple prices. Natural gas has a price; oil has a price; coal has a price. And their prices are related to the valuable carbon component of those fuels because it's carbon... MORE

Thomas Schelling Bio

Game Theory
David Henderson
Schelling's early work was on the most important issue of the Cold War: preventing it from becoming a hot war. In his classic 1960 book, The Strategy of Conflict, Schelling laid out some important applications of game theory to the... MORE

Paid Parental Leave: No Free Lunch

Labor Market
David Henderson
When the government mandates one component of compensation, other components adjust. Various friends on Facebook have expressed the view that government-mandated paid parental leave, which seems to have been advocated by Donald Trump supporter Ivanka Trump and is advocated by... MORE

Harry Markowitz on Armen Alchian

Microeconomics
David Henderson
I am about to order this book. I have just read its quite favorable reviews, and I am not a bit surprised at their being impressed by Armen Alchian's writings. I was a colleague of Armen's, at the Rand Corporation... MORE

I watched much of the Republicans' and Democrats' conventions, as my long-suffering wife can ruefully attest to, so that you didn't have to. What you have may heard about the Republicans' convention is that it was so negative and... MORE

It's Not Just About the Money

Labor Market
David Henderson
But West was not the only Spurs player to take a pay cut. Spurs superstar Tim Duncan "slashed his salary in half before the 2013 season, then won his fifth NBA title." And before the 2015-2016 season, he "cut his... MORE

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