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David Henderson: December 2017

An Author Archive by Month (23 entries)

Money as Coined Liberty

Money
David Henderson
Here is another installment of the questions I asked as discussion leader of a colloquium on Ken Rogoff's and others' proposals to abolish $100, $50, and possibly $20 bills. I've previously posted here, here, and here. (1) On page... MORE

Tales of Chicago Workshops

History of Economic Thought
David Henderson
A number of economists are posting on Facebook this morning about the article on Princeton economist Anne Case's view on why so few women go into economics. The piece is short and I have nothing to add to it,... MORE

Bombing Makes People Mad

Unintended Consequences
David Henderson
This study uses discontinuities in U.S. strategies employed during the Vietnam War to estimate their causal impacts. It identifies the effects of bombing by exploiting rounding thresholds in an algorithm used to target air strikes. Bombing increased the military and... MORE

Mark Steyn Agrees with Bryan Caplan on Immigration

Labor Mobility, Immigration, Outsourcing
David Henderson
about one important factual claim, not about the best policies. My fellow Canadian Mark Steyn wrote recently about what he sees as some of the harmful effects of Muslim immigration into Europe. I hasten to say that I don't disagree... MORE

Market Failure or Market Success?

Economic Education
David Henderson
Rising incomes also have contributed to our expanding waistlines. U.S. GDP per capita and calorie intake have risen virtually in tandem since 1970. At the same time, the growth of the service sector and the use of workplace technology have... MORE

I've posted a few times (here and here) on Kenneth Rogoff's proposals to get rid of the $100, $50, and possibly $20 bill. Here are a few more questions I asked about his writing at the colloquium: On page 93,... MORE

My Shortrun Tax Strategy

Taxation
David Henderson
I promised yesterday to say more about the short-run implications of the tax bill for me. I'm not giving advice but some of you might find this helpful. The first major point is that the increase in the standard deduction... MORE

Five Thoughts About the Tax Bill

Taxation
David Henderson
Here are five thoughts about the tax bill: they are from big-picture economic analysis. Later today or tomorrow, I'll post on how I plan to adjust my behavior before December 31, 2017 in response to the tax bill. 1. How... MORE

Krugman Talks Sense on Trade and Immigration

Growth: Causal Factors
David Henderson
On December 15, the Business Insider posted an excellent interview by Josh Barro of Paul Krugman. It's excellent in the sense that Josh kept the conversation going quickly, as did Paul, so that they managed to cover a lot of... MORE

UPDATE BELOW: Many tweeters have been making fun of the following Dianne Feinstein tweet: The Republican tax bill caps the mortgage interest deduction at $750,000 for new mortgages. In California, seven counties have average home prices that are more... MORE

Peace at a 49ers Game

Economics and Culture
David Henderson
Yesterday I attended only my second NFL game. What a game to choose, with the home team winning in the last 3 seconds with a come-from-behind field goal. Field goal kicker Robbie Gould made 6 field goals on 6... MORE

Tirole on Economics for the Common Good

Books: Reviews and Suggested Readings
David Henderson
In 2014, French economist Jean Tirole, chairman of the Toulouse School of Economics and the Institute for Advanced Study in Toulouse, won the Nobel Prize in Economics. Although he is well known within the increasingly technical economics profession, Tirole... MORE

Origins of the Entitlement Nightmare

Books: Reviews and Suggested Readings
David Henderson
Currently, the U.S. federal government spends about $2.4 trillion per year--about 12% of GDP--on entitlement programs. This amounts to $7,500 per person annually. Only 48% of this spending goes to people officially classified as poor. The federal government provides more... MORE

Rogoff on How to Deal with Emergencies Without Cash

Monetary Policy
David Henderson
As noted in my previous post, I was discussion leader at a recent colloquium on moving towards a cashless or less-cash society. Here are some quotes from Rogoff, followed by questions I asked. Rogoff: Certainly, a lot of the... MORE

Rogoff's Alternative to the Wall

Labor Mobility, Immigration, Outsourcing
David Henderson
Cash also plays a role in the illegal immigration problem that bedevils countries like the United States. It is incredible that some politicians talk seriously about building huge border fences, yet no one seems to realize that a far more... MORE

Eugene Volokh on Everything

Free Markets
David Henderson
Nick Gillespie has a good interview with Eugene Volokh of the famed law blog The Volokh Conspiracy. Among the most interesting highlights are his discussion of the cake baker and anti-discrimination laws. Volokh makes the important distinction between whether a... MORE

Is Hiring Jews Evidence of anti-Semitism?

moral reasoning
David Henderson
At first glance, the title of this post seems strange. How could hiring Jews be evidence of anti-Semitism? And yet that is where we are. I got a late start this morning and made the mistake, while on my exercise... MORE

In an article in which he makes a number of good points, on net defending a baker's decision not to bake a cake for a celebration that the baker objects to on religious grounds, Andrew Sullivan writes: And it is... MORE

A Man Called Ove

Economics and Culture
David Henderson
I rarely recommend movies on EconLog but this is an exception. My wife and I saw A Man Called Ove last night and loved it. I would give it a 9 on a scale of 1 to 10. It's a... MORE

The important effect of incentives on allocation over time. One of the differences between the House and Senate versions of the tax cut is whether the corporate tax rate falls in 2018 (House) or 2019 (Senate.) It might look as... MORE

A number of friends on Facebook have been discussing whether the federal tax system is "progressive." That word has emotive content--"progressive" seems good--but all it means is that the higher your income, the higher your tax rate. One economist friend... MORE

The Inverse-Hirschman Scenario

Economics of Education
David Henderson
I call attention to the Inverse-Hirschman scenario's twist for a specific historical reason. It basically describes another historical situation--this one in Charlottesville, Virginia in the spring of 1959, amidst ongoing court orders to desegregate. The Charlottesville school system's attorney... MORE

Vladimir Kogan Replies on Sabotage

Economics of Health Care
David Henderson
Vladimir Kogan, one of the co-authors of the study I recently criticized on Republicans "sabotaging" the implantation of Obamacare, wrote me on November 27. I replied to him on November 29 and he replied to my reply the same day.... MORE

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