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David Henderson: September 2017

An Author Archive by Month (22 entries)

My Retirement

Labor Market
David Henderson
You need to read to the end to know the significance of this picture. Today is my last official day at the Naval Postgraduate School (NPS) in Monterey. After today, I will be an emeritus professor, with all the... MORE

Raj Chetty's Non Sequitur

Income Distribution
David Henderson
Stanford economics professor Raj Chetty, who studies income inequality, has put out on the web a rich array of PowerPoints and videos as part of his Equality of Opportunity project. I haven't looked at them all yet--the sheer number of... MORE

DeLong on Scott's Seeing Like a State

Austrian Economics
David Henderson
I was talking to an economist friend today about Berkeley economist Brad DeLong and I told him that my two favorite DeLong pieces are his "Cornucopia," which I have blogged about, and his review of James Scott's Seeing Like a... MORE

Henderson on Rothstein's The Color of Law

Regulation
David Henderson
"We have created a caste system in this country, with African Americans kept exploited and geographically separate by racially explicit government policies." So writes Richard Rothstein in The Color of Law: A Forgotten History of How Our Government Segregated... MORE

Abraham Lincoln on the Theory of Public Choice

Public Choice Theory
David Henderson
We then, do not say, nor need we say, to maintain our proposition, that Bank officers are more honest than Government officers, selected by the same rule. What we do say is that the interest of the Sub-Treasurer is against... MORE

Cold James Buchanan

Tax Reform
David Henderson
I'm about 60 percent of the way through Nancy MacLean's Democracy in Chains, a book that many critics have commented on. On p. 32, Professor MacLean writes: His bearing was "austere," a later colleague explained; while he was "a good... MORE

Feldstein's Insight on Standards of Living

Growth: Consequences
David Henderson
In a recent op/ed in the Wall Street Journal, my former boss at the Council of Economic Advisers and Harvard economist Martin Feldstein points out that the data on real incomes in the United States systematically understate its growth. The... MORE

My 1983 Response to Koch Lobbying on Oil

Energy, Environment, Resources
David Henderson
In preparation for my imminent retirement, I've been going through files and files, throwing things out but keeping things too. I came across a letter I wrote to George Pearson of Koch Industries, who took me to dinner in July... MORE

Happy Birthday, Dr. Johnson

Economic Philosophy
David Henderson
Google today highlights the birthday of Sam Johnson, the famous British intellectual in the 18th century. He is thought of as the father of the modern dictionary. I discovered him when I was in 10th grade and was hanging around... MORE

Over at Hit and Run, Reason's blog, Robby Soave, whose work I normally like a lot, laid an egg. His post is titled "The Real Boobs Are People Who Think ESPN Must Fire Jemele Hill." You can read his post,... MORE

A Poll of Economists on Price Gouging

Price Controls
David Henderson
In May 2012, the IGM Forum, based at the University of Chicago Booth School, did a poll of economists on a proposed anti-price-gouging law in Connecticut. The economists polled were on the IGM's panel of "experts." To clarify, the vast... MORE

Report from Naples

Central Planning vs. Local Knowledge
David Henderson
Former star student Thomas Strenge wrote me an interesting email and gave me permission to quote. What follows below is my slightly edited version of what he wrote. My Mom lives about 10 miles inland from Naples and her experience... MORE

Core Concepts

Economic Education
David Henderson
One of my former students, a student who performed very well in my class and has kept in touch on economic issues, sent me a link to John Cassidy, "A New Way to Learn Economics," New Yorker, September 11, 2017.... MORE

My Pre 9/11 Column

Foreign Policy
David Henderson
Various authors have posted what they wrote in the hours and days after that horrible morning of September 11, 2001. I've decided to post the last part of a column I wrote for Red Herring that was published on November... MORE

Law Professor Glenn Reynolds Doesn't Understand U.S. Law

Labor Mobility, Immigration, Outsourcing
David Henderson
Byron York, in "Crime and immigration: What's in the Dream Act," Washington Examiner, September 7, writes: Commentary on the DACA controversy frequently notes that the nation's nearly 700,000 so-called Dreamers are a law-abiding group. But a new bill to give... MORE

In Defense of Dudley

Growth: Causal Factors
David Henderson
Looking for Bastiat's Broken Window Fallacy Where There Isn't One. A libertarian friend on Facebook linked to this two-minute interview of William Dudley, president of the New York Federal Reserve Bank, and claimed that Dudley was subscribing to Frederic Bastiat's... MORE

Rugged Communitarians

Behavioral Economics and Rationality
David Henderson
Houston, we're solving our problems. This culture really shines through during events like Hurricane Harvey. Despite what the narrative spinners would have you believe, we are not rugged individualists; we are rugged communitarians. We know that when times are tough,... MORE

California is Broke(n)

Labor Market
David Henderson
A resident of my city of Pacific Grove recently did a huge service on Facebook by linking to a site that gives pay and pensions for state and local government workers. It's breathtaking. Question: Who received the highest pension in... MORE

Thaler on Price Gouging

Price Controls
David Henderson
In a segment on the economics of price gouging on NPR Marketplace last Friday [it starts at about the 11:40 point], my former University of Rochester colleague Richard Thaler points out that merchants who price gouge create ill will among... MORE

Lemieux on Antidumping and Countervailing Duties

International Trade
David Henderson
On April 27, 2017, Boeing petitioned the U.S. Department of Commerce to impose antidumping and countervailing duties for a total of "at least" 159.91% on Bombardier's C Series commercial jets. Antidumping duties are supposed to compensate for the sale of... MORE

Henderson and Cochrane on Climate Policy

Energy, Environment, Resources
David Henderson
Under my agreement with the Wall Street Journal I can now show you the whole article that John Cochrane and I had published on July 30. Here it is. Climate Change Isn't the End of the World By David R.... MORE

Gary North on Domestic Communism

Economic Philosophy
David Henderson
In retrospect, it is difficult to believe that Congress bothered to come to Hollywood to investigate Communist infiltration, other than for publicity. The movies that Hollywood cranked out from 1934 to 1959 were patriotic. They were socially conservative to a... MORE

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