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David Henderson: July 2017

An Author Archive by Month (23 entries)

Henderson and Cochrane on Climate Policy

Energy, Environment, Resources
David Henderson
Climate change is often misunderstood as a package deal: If global warming is "real," both sides of the debate seem to assume, the climate lobby's policy agenda follows inexorably. It does not. Climate policy advocates need to do a much... MORE

"Capitalism" has become a fighting word in the battle between East and West and for men's minds everywhere; and, like all slogans, it means many things to many men. To some "capitalism" is a term of opprobrium, signifying the oppression... MORE

A Knight Tale

History of Economic Thought
David Henderson
In the picture above, I'm wearing the actual poker hat that Frank Knight wore when he worked on articles. Here' the tale of how that came to be. In the Spring of 2002, I was teaching a microeconomics class... MORE

Frank Knight's Case for Communism

History of Economic Thought
David Henderson
When I posted on Frank Knight's case for Communism the other day, I also put it on up on Facebook and had some people wondering about context. Those of us who are fans of Frank Knight don't think of... MORE

Three Thumbsuckers

Regulation
David Henderson
When I was writing a lot for Fortune in the late 1980s and early to mid-1990s, an editor of one of my articles casually referred to it as a "thumbsucker." I thought it was an insult, but he explained... MORE

Joseph Rago RIP

Economics of Health Care
David Henderson
Wall Street Journal editorial writer Joe Rago died this week at the age of 34. If you read the Review and Outlook editorials--the unsigned editorials that are published on the left hand side of the editorial page and reflect the... MORE

Frank Knight on John B. Watson

History of Economic Thought
David Henderson
I dug out of my library a famous unpublished (until 1991) 1932 mimeograph (those under age 45 should look up that term) article by Frank H. Knight. The article is titled "The Case for Communism: From the Standpoint of... MORE

Sudan Sanctions and My Neighbor's Cat

International Trade
David Henderson
Diplomats here expect Washington to drop sanctions in the fall, as planned during the final days of the Obama administration, not least because they failed to achieve some key goals. "When the sanctions were implemented, the hope was that there... MORE

Getting Around Economic Sanctions in Sudan

International Trade
David Henderson
When I started the Ph.D. economics program at UCLA in September 1972, one of the first things we graduate students heard that we should be doing different in our daily lives was to subscribe to the Wall Street Journal. If... MORE

De-Identifying Race and Ethnicity Reduces Bias

Unintended Consequences
David Henderson
But not in the way you might expect. What we found is that de-identifying applications at the shortlisting stage of recruitment does not appear to assist in promoting diversity in hiring. In fact, in the trial we found that overall,... MORE

Enough to Buy Back the Product

Business Economics
David Henderson
I was on an email discussion this morning with some free-market economists and some economically literate fans of free markets. One of them surprised me with this statement: I always tell my students the Henry Ford $5 a day... MORE

Is Russia's Government Hostile?

Foreign Policy
David Henderson
One of the things that I think affects people's view about the Trump administration vis a vis Russia is their view of Russia. In a recent article, my friend Steve Chapman, columnist at the Chicago Tribune, writes: If this was... MORE

Farrell and Teles on Nancy MacLean

Public Choice Theory
David Henderson
A deep, historical study of public choice would be welcome, and Buchanan's role in the development of the thought and organizational infrastructure of the right has generally been overlooked. Unfortunately, the book [by Nancy MacLean] is an example of precisely... MORE

Amazon Prime's Contribution to Northern Canada

Business Economics
David Henderson
The consensus in Iqaluit seems to be that everyone with a credit card has an Amazon Prime membership. That's because people can often find groceries cheaper online than in local stores, despite government food subsidy programs. "Amazon Prime has done... MORE

Milton Friedman on Black Markets

Price Controls
David Henderson
In a June 8, 1947 NBC radio discussion titled "The Future of France," Alfred Cobban, visiting professor of political science at the University of Chicago, Milton Friedman, associate professor of economics at the University of Chicago, and Louis Gottschalk,... MORE

Friedman in 1946

Labor Mobility, Immigration, Outsourcing
David Henderson
Mr. Schultz: Friedman, how do you summarize what we have said this afternoon? Mr. Friedman: Two very different kinds of techniques are available for lessening the income inequalities of the world. On the one hand, we can use direct techniques--the... MORE

Walter Block's Reductio ad Absurdum

Competition
David Henderson
Hey, Kevin Durant, quit being a ball hog; pass it to Lebron. I was thinking of writing a post about the absurdity of the recent EU antitrust case against Google, but Walter Block beat me to it with a reductio... MORE

Making Dental Care and Health Care Less Expensive

Economics of Health Care
David Henderson
First the good news: Take Maine state Rep. Richard Malaby (R-District 136), who sponsored a bill in 2014 to let mid-level dental professionals--known as dental therapists--provide additional care for the state's poor, rural areas. Though the bill eventually passed,... MORE

Verizon vs. USPS

Competition
David Henderson
First, I erred. My own recent experience with Verizon, while personally heartening, is not good enough evidence on how large for-profit firms respond when a customer is treated badly. Two commenters said it particularly well. Commenter Tom Jackson writes:... MORE

A Lawyer's Perry Mason Moment

Law and Economics
David Henderson
In a post a few days ago, I wrote: When I was involved in a legal case as an expert once, one of the lawyers and I exchanged our stories about the closest we had ever seen to a... MORE

Murphy on Private Production of Roads

Central Planning vs. Local Knowledge
David Henderson
Most Americans recognize the efficiency of private enterprise in providing goods such as computers and cars. Yet for various reasons, when it comes to roads, most people recoil from the idea of private production. Indeed, many people think that... MORE

Verizon Victory!

Competition
David Henderson
Last week I posted about my very upsetting experience with Verizon. A few days later, a regular reader of EconLog, who tells me he has learned a lot from reading EconLog, wrote me about the issue. He has a fairly... MORE

I grew up watching Perry Mason. Almost invariably, the person on the stand with under 5 minutes to go in the show was the one who was guilty and, again, almost invariably confessed while on the stand. It didn't take... MORE

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