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David Henderson: January 2018

An Author Archive by Month (35 entries)
A friend of mine was reminiscing Sunday about Dennis Peron, a friend of his who died last week. My friend told me how he managed to get a whole bunch of people in San Francisco informed about Peron's upcoming... MORE

Henderson versus Caplan on Responding to Bored Students

Economic Education
David Henderson
In his interview with The Chronicle of Higher Education, co-blogger Bryan Caplan stated: In order to make my subject relevant, I would actually have to learn a lot about the occupations the students are doing and just teach, really, a... MORE

Paul Peterson on Compulsory Schooling and His Best Teacher

Economics of Education
David Henderson
One of my more-delightful colleagues at the Hoover Institution (there are actually many to choose from) is Paul Peterson, the Henry Lee Shattuck Professor of Government at Harvard University. He's also Senior Editor of Education Next. I was up... MORE

Free the Jesuit Slaves!

Liberty
David Henderson
Much of the confusion prevailing in the historical study of liberalism can be traced to John Stuart Mill, who occupies a vastly inflated position in the conception of liberalism entertained by English-speaking peoples.1 This "saint of rationalism" is responsible for... MORE

Kling on Rules for Life

Finance
David Henderson
Former co-blogger Arnold Kling recently posted 4 rules for work life and financial life. They're excellent. I'll give each rule and comment on how they relate to my own life. You be the judge of whether they relate to yours.... MORE

Bill Bewick, whose bio identifies him as "an Edmonton-based political consultant and public policy analyst who served as the Wildrose Official Opposition Director of Policy from 2010-2017," has written an excellent analysis of the coming legalization of marijuana on or... MORE

Henderson on Monopsony Power in Labor Markets

Labor Market
David Henderson
David R. Henderson, an economist at the conservative Hoover Institution, said the existence of additional options outside a worker's current occupation or city made him skeptical that concentration was having an effect on wages. Skilled workers, he said, can seek... MORE

Burger King Has It Its Way

Business Economics
David Henderson
Clemson University economist, and expert on the FCC and net neutrality, Thomas W. Hazlett, wrote the following on Facebook yesterday (he gave me permission to quote) about Burger King's now-famous (infamous) exposition of net neutrality: Is this The Onion? A... MORE

Who's Afraid of Virginia Woolf?

Labor Market
David Henderson
Her servants. Today Google has highlighted author Virginia Woolf, who was born 136 years ago today. How the heck does this relate to economics? Here's how. In his excellent 2010 book At Home, Bill Bryson, in describing the life of... MORE

My Interview with Murphy-Lara

Austrian Economics
David Henderson
Robert Murphy, who is one of the heavy hitters for Econlib, interviewed me by email last month and it's out in the Lara-Murphy Report. The report is by paid subscription but Bob gave me permission to post the whole interview... MORE

I was interviewed live last night, my favorite kind of interview, by John Batchelor and Larry Kudlow. Here's the link. What led to the interview was this blog post.... MORE

Right to Work Works

Labor Market
David Henderson
Labor unions play a central role in the Democratic party coalition, providing candidates with voters, volunteers, and contributions, as well as lobbying policymakers. Has the sustained decline of organized labor hurt Democrats in elections and shifted public policy? We use... MORE

We're Number 11, We're Number 11!

Competition
David Henderson
In "Top 100 Economics Blogs And Websites For Economists," EconLog is ranked #11 out of the 100 blogs and websites listed. I'm not sure how they came up with the ranking, but notice that we're only 2 positions below Marginal... MORE

Henderson on Tillerson

Foreign Policy
David Henderson
Someone not familiar with the ISIS story might conclude that Tillerson was saying that the US government defeated ISIS. Of course, if you read his speech carefully, you'll see that he didn't say that. What he said was that the... MORE

Response to a New Zealander

Trade Barriers
David Henderson
A man whom I've become friends with in the last month or so often shares thoughts on email about political issues. He sent along an email he received from a friend and it includes an email from a New Zealand... MORE

Hope for Italy?

Tax Reform
David Henderson
A coalition of center-right parties (market-oriented, low-tax conservative parties in American parlance) agreed to an electoral pact on Thursday, January 18, 2018. Silvio Berlusconi of Forza Italia, Matteo's Salvini of Lega Nord, and Georgia Meloni of Nationalist Brothers of Italy... MORE

They might be. Veronique de Rugy of the Mercatus Center has an excellent piece at Reason on the connection, if any, between the recent cut in the corporate income tax rates and the spate of bonuses, pay increases, and increases... MORE

The Big Victims of Drug Prohibition

Economics of Crime
David Henderson
Never forget consumer surplus. Steven Landsburg is critical of co-blogger Scott Sumner's proposal to give preference in licensing legal marijuana sellers to those who were previously convicted of marijuana offenses. Scott calls this "affirmative action for drug pushers." Actually, though,... MORE

For a Free Market in Plasma

Economic Philosophy
David Henderson
Ottawa, Ontario and Washington, D.C. - A group of professional ethicists and economists published an open letter urging provincial governments to reconsider proposals to ban compensation for blood plasma donations. The letter is signed by 26 ethicists and economists, including... MORE

Hillary Clinton Was Wrong

Economics of Crime
David Henderson
Maerker: In Mexico, there are those who propose not keeping going with this battle and legalize drug trafficking and consumption. What is your opinion? Clinton: I don't think that will work. I mean, I hear the same debate. I hear... MORE

Welcoming Prejudice

Economic Education
David Henderson
I don't believe in intellectual cooties. Reason: This year there has been a lot of discussion about whether there's a pipeline between libertarians and the alt-right. Sharpe: Yup. Libertarian Party Chair Nicholas Sarwark has been drawing some bright lines. It's... MORE

Has President Trump Been Very Consequential?

Cost-benefit Analysis
David Henderson
Over at his other blog, TheMoneyIllusion, fellow EconLog blogger Scott Sumner writes: I've often suggested that Presidents have far less power than people assume, and that events tend to follow the "zeitgeist", or the prevailing mood in the country. That's... MORE

But or Therefore?

Regulation
David Henderson
"Marin County has long resisted growth in the name of environmentalism. But high housing costs and segregation persist." So reads the title of a news story by Liam Dillon in the Los Angeles Times. The reporting is excellent. I hope... MORE

And an appeal to basic principles of freedom explains why. In his novel 1984, George Orwell gave us the memorable term "thoughtcrime" to describe thoughts which the state punishes to protect itself from criticism. The Strategic Affairs Ministry's recent decision... MORE

Economic Freedom via Freedom of Speech

Law and Economics
David Henderson
To paraphrase the Eleventh Circuit, imposing a surcharge rather than offering a discount is no more misleading than calling the weather warmer in New Orleans rather than colder in San Francisco. This is from the United States Court of Appeals... MORE

Henderson on Trump

Cost-benefit Analysis
David Henderson
Richard Reinsch, the editor of our sister Liberty Fund blog, "Law and Liberty," asked me to write a response essay to this essay on Donald Trump by Greg Weiner. When I accepted, I didn't know Professor Weiner's views well and... MORE

Henderson on The New Tax Law

Upcoming Events
David Henderson
I'll be speaking to the Monterey Peninsula Republican Women this Thursday. Topic: An Economist Analyzes the New Tax Law Date: Thurs, Jan. 11th Time: 11:30AM - 1:30PM Location:Rancho Canada Gold Course, 4860 Carmel Valley Rd., Carmel Valley. It's a luncheon... MORE

Henderson and Williams on Free to Exchange

Labor Market
David Henderson
My long-time friend Ben Powell, a professor of economics at Texas Tech University and the director of the Free Market Institute there, is quite a good interviewer: asking good questions and coming up with good lines apparently on the fly.... MORE

Jonathan Weisman's Bias

Media Watch
David Henderson
Jonathan Weisman is a New York Times reporter on economic policy. Back in 1999, he reported on economics for the Baltimore Sun. The web is great. On my computer that burned in my fire in 2007, I had both the... MORE

Female prostitution is both illegal in most American cities and extremely dangerous, as prostitutes face risks of violence from the environment and clients. Previous studies suggest that prostitution has the highest homicide rate of any female intensive occupation in the... MORE

Kathleen Wynne is Wrong

Price Controls
David Henderson
What do economists predict employers of low-wage workers will do when a government raises the minimum wage by a large amount, say, $2.40 an hour? An increase in the minimum wage doesn't magically make low-wage workers more productive. So we... MORE

Play the Hand You're Dealt

Economic Philosophy
David Henderson
In response to co-blogger Bryan Caplan's post about being on the Fox News Channel (FNC), one commenter wrote: The Fox News Network, and Carlson in particular, are basically running propaganda operations for the Trump administration. While regular readers understand... MORE

The Unintended Consequences of Drug Reimportation

Economics of Health Care
David Henderson
Allowing U.S. consumers to engage in parallel trade would require pharmaceutical companies to lower prices here, negotiate price increases with other OECD governments, contracturally prohibit buyers from re-selling, or reduce drug sales to low-price countries so that they have no... MORE

Mea Culpa on Fourth Amendment Showdown

Economics of Crime
David Henderson
On November 29, I argued that the legal authorities should have gotten a warrant if they wanted to access the information on where Timothy Carpenter made calls from. The basis for my argument was that getting the information without Carpenter's... MORE

If it's true that a worker gets paid an amount just equal to what he or she adds to total economic output, then how can there be any surplus left over to benefit the masses? In particular, suppose that an... MORE

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