EconLog small logo

David Henderson: January 2017

An Author Archive by Month (23 entries)

The Pros and Cons of the TPP

International Trade
David Henderson
As a two-armed economist, I'll say that the benefits of the TPP are uncertain. Chop off one of my arms and I'll say that the net benefits are positive. This is from my article "All things considered, TPP would've... MORE

Video of My Talk at Kansas State

Income Distribution
David Henderson
I had a great time visiting students and faculty, and giving an evening talk, at Kansas State University in Manhattan, KS. You can watch it here or on Youtube. I was impressed with both students and faculty, and one... MORE

A Wall

International Trade
David Henderson
Before I built a wall I'd ask to know What I was walling in or walling out, And to whom I was like to give offense. Something there is that doesn't love a wall, That wants it down! From... MORE

James Kwak on Minimum Wage

Price Controls
David Henderson
On my to-do list for the last week or so has been to write a detailed response to University of Connecticut law professor James Kwak's claim that many economists and others have misleadingly and simplistically applied basic Econ 101 analysis... MORE

Trump's Toothless Pipeline Protectionism

International Trade
David Henderson
Tom DiChristopher of CNBC called me yesterday to get my take on Donald Trump's attempt to make builders of the Keystone pipeline use American-made pipe. The result is this excellent report by him, in which he quotes me accurately and... MORE

My Kansas State Speech

Upcoming Events
David Henderson
A reminder. My speech is tonight. Here are the details.... MORE

Ending the Requirement to Show Drug Efficacy

Economics of Health Care
David Henderson
In my January 14 post, "Why Are Drug Prices So High?", I referenced Charley Hooper's and my proposal that Congress go back to pre-1962 law and have the FDA be a certifier of only safety, not efficacy. In the... MORE

My Speech at Kansas State University

Upcoming Events
David Henderson
This Thursday, I will be speaking at Kansas State University in Manhattan, Kansas. Title of Talk: "Economic Inequality: Popular Misconceptions and Important Facts" Thursday, January 26, 2017 6:30 PM Waters 231 Underwritten by Fred and Mary Koch Foundation... MORE

Ominous Inaugural Addresses

International Trade
David Henderson
WASHINGTON--President Donald Trump delivered what historians and speechwriters said was one of the most ominous inaugural addresses ever, reinforcing familiar campaign themes of American decline while positioning himself as the protector of the country's "forgotten men and women." In a... MORE

The Economics of the Affordable Car Insurance Act

Economics of Health Care
David Henderson
"The Affordable Car Insurance Act (ACIA), which President-elect Donald Trump and the Republican-controlled Congress have vowed to repeal, was crafted to overcome two basic problems in the provision of car insurance in the United States. First, the costs are incredibly... MORE

St. Louis Federal Reserve Bank Vice-President and economist Stephen D. Williamson has written a critical review of Kenneth Rogoff's The Curse of Cash. I use the word "critical" in the sense we academics use it: a balanced critique that... MORE

Why Are Drug Prices So High?

Economics of Health Care
David Henderson
Economists have shown that the cost to get one drug to market successfully is now more than $2.8 billion. This cost has been growing at 7.5 percent per year, more than doubling every ten years. Most of this cost... MORE

On November 8, Indian prime minster Narendra Modi announced that the two largest denominations of banknotes could not be used for payments any more with almost immediate effect. Owners could only recoup their value by putting them into a bank... MORE

Trump's Trade Trifecta

International Trade
David Henderson
Well, it's now obvious that Canada has not dodged a bullet. One of President-elect Trump's most sincerely held views is that free trade is suspect. He buys into virtually every mercantilist myth, even claiming in a recent tweet, "China has... MORE

Hugh Hewitt on the Interest Deduction

Taxation
David Henderson
In yesterday's Wall Street Journal, talk radio host Hugh Hewitt has an op/ed titled "Policy Purity is Bad Politics." In it, he argues against capping the mortgage interest deduction. I'll comment on three things: 1. His economic analysis, 2. His... MORE

Gruber on Romney and Obama

Economics of Health Care
David Henderson
I found this 33-minute PBS interview of Jonathan Gruber, one of the architects of both Romneycare in Massachusetts and Obamacare for the United States, interesting. I've posted about Gruber earlier in these 14 posts. The interviewer is lobbing softballs throughout,... MORE

McArdle Advocates Paternalism

Social Security
David Henderson
And it's expensive paternalism. Megan McArdle of Bloomberg, who is normally a first-rate analyst of economic issues, has written an inaccurate attack on 401(k) plans and, worse, proposes a huge paternalistic government program for retirement in her column "The 401(k)... MORE

Stigler on Shaw on Income Equality

Income Distribution
David Henderson
I enjoyed rereading George Stigler's 1959 piece "Shaw, Webb, and Fabian Socialism," which I posted about earlier. Here's another excerpt: Shaw and Webb discharged a portion, but only a very small portion. of the duties of a responsible proponent... MORE

What's Wrong with Trade Restrictions in One Graph

International Trade
David Henderson
Timothy Taylor, at the Conversable Economist, has an awesome graph (reprinted above) and an excellent discussion of trade in the modern world. We often picture some companies producing for export but using as inputs almost entirely domestically produced items.... MORE

Trump's Security: Government or Private

Cost-benefit Analysis
David Henderson
DECEMBER 20, 2016 --President-elect Donald Trump is breaking with tradition yet again, this time by retaining his own private security force. In what security experts are calling an unprecedented move, Mr. Trump has continued to employ a private security and... MORE

Dave Barry Highlights

Public Choice Theory
David Henderson
Meanwhile, newly released State Department emails cause some people to suggest that the reason a variety of dodgy foreign businesspeople and nations gave millions of dollars to the Clinton Foundation while Hillary Clinton was secretary of state was that they... MORE

The NSR, which many people understand more intuitively from physics, sheds light on the DWL in economics. As I explain below, while the NSR does not literally meet the Mankiw challenge, it does come close: it illustrates that each tax... MORE

Stigler on Shaw on Marx

History of Economic Thought
David Henderson
George Bernard Shaw finds one of two crucial mistakes in Karl Marx; George Stigler finds the other. One of the late George Stigler's many contributions to economics, one that was not recognized by the Nobel Committee when it made its... MORE

Return to top