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Hoover Daily Report items by David R. Henderson

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February 19, 2014 | Defining Ideas (Hoover Institution)

Obamacare's 'Disincentive' Scheme

January 24, 2014 |

If Obama's Worried About Poverty, He Should Focus On It, Not Income Inequality

Income inequality in the United States today cannot be explained by rich people exploiting poor people.
January 10, 2014 | Investor's Business Daily

Debate Over Minimum Wage Hike Is Obscured By Myths

Raising the minimum wage won't help the poor. Why? It's a myth that most minimum wage earners are the sole breadwinners in their household. They aren't.
October 15, 2013 | Wall Street Journal

A Nobel for the Random Walk of Stock Prices

September 4, 2013 | Wall Street Journal

The Man Who Resisted 'Blackboard Economics'

June 7, 2013 | Defining Ideas (Hoover Institution)

When Government Cries Wolf

February 22, 2013 | EconLog

The Minimum Wage and Monopsony

February 19, 2013 | Wall Street Journal

An Economist Who Made the Science Less Dismal

October 15, 2012 | Wall Street Journal

On Marriage, Kidneys and the Economics Nobel

September 27, 2012 | Defining Ideas (Hoover Institution)

The Bottom One Percent

July 27, 2012 | Real Clear Policy

The Growing Dangers of Cronyism

June 28, 2012 | Regulation (Cato Institute)

In Review

April 2, 2012 | Econlib

How Property Rights Solve Problems

This is just a small list of the problems that are apparently "public-policy" problems only because the government has chosen to make them so. Private property solves people's problems every day...
November 7, 2011 | Freeman

Henderson’s Iron Law of Government Intervention: The 1967 Detroit Riot

The more I have studied government policy over the last 40 or so years, the more strongly I have come to believe that whatever problem you name, some government intervention was an important cause or, at a minimum, made the problem worse...
October 11, 2011 | Wall Street Journal

A Nobel for Non-Keynesians

People's expectations about government policy make it difficult for officials to affect the economy in the ways they intend to...
September 8, 2011 | Sacramento Bee

To really grow jobs, Obama needs to undo multiple harms

President Barack Obama is slated tonight to lay out his jobs plan. But what can he and Congress really do to help sustain and strengthen the economic recovery? I propose the following...
July 31, 2011 | San Francisco Chronicle

Tax on interstate online sales unfair

Taxing California residents on purchases from out of state, although it's marginally better for California governments, is a lousy deal for California residents...
December 1, 2010 | Health Reform Report

"Losers" are the Key to Undoing Obamacare

What's the lesson for repealing Obamacare? Show people who will lose under Obamacare, a group that includes a large majority of Americans, that they will lose and persuade them to take action...
August 23, 2010 | Freeman

The Decline in Civil Liberties

Americans are no longer free to travel by commercial air without showing a government official a government-issued ID...In an important way, the United States has become Sovietized...
July 8, 2010 | Medical Progress Today

Are Foreign Clinical Drug Trials Safe?

For this edition of our Second Opinion forum, we've asked policy experts if they think the existing foreign clinical trial system puts patients in the US at risk, or if they think Americans are better off because of these trials...
July 1, 2010 | Regulation (Cato Institute)

Regulation Overdose

It makes sense, there- fore, to review books that, for whatever rea- son, did not sell well but should have. Thus my review of Richard Epstein’s 2006 book Overdose...
April 25, 2010 | Freeman

Forgotten Lines

In the January 23, 2010, Los Angeles Times crossword puzzle, one of the clues was “Sassy reply to criticism.” The answer: “It’s a free country...” Why do I find this so striking? For two reasons...

March 9, 2010 | Monterey Herald

Letters: Professors went too far

In a story Friday about the student protests of budget cuts, The Herald reported, "Some professors took students from their classrooms to the rally.". . .

March 1, 2010 | Econlib

GDP Fetishism

When economics professors teach the basics of Gross Domestic Product (GDP), we usually caution our students that it is not a good measure of welfare. . . .

January 29, 2010 | Regulation (Cato Institute)

Not a Big Deal

In 2006, Princeton University economist and former Federal Reserve vice chairmanAlan Blinder made a splash with his claimthat 30 to 40millionAmerican jobs could become vulnerable to offshore competition over the next two decades. . . .

January 22, 2010 | Sphere (

Making Banks Too Small to Succeed?

On Thursday, the Obama administration introduced its proposal for dealing with the "too big to fail" problem for banks. . . .

January 13, 2010 | Cato Institute

Go Quietly, Old People

Formany years,DanielCallahan, cofounder of the Hastings Center, has been writing about medical ethics and bioethics. . . .

January 1, 2010 | Freeman

The Balance-of-Payments Deficit: Not to Worry

No government agency—or private entity—computes the dollar value of goods that people in the rest of the world sell to or buy from Californians. . . .

December 14, 2009 | Wall Street Journal

Why Everyone Read Samuelson

The late Nobel laureate's mathematical approach to economics has been a mixed blessing. . . .

October 12, 2009 | Wall Street Journal

A Nobel for Practical Economics

Yesterday's award of the Nobel Prize in economics to Elinor Ostrom and Oliver Williamson at first struck me as a good choice. Now I think it's a great choice...

September 9, 2009 | Forbes

Pfizer's $2.3 Billion-Dollar Settlement

Even Google didn't believe it...

July 1, 2009 | Cato Institute

Big Government’s Return

It had to happen...

July 8, 2009 | Forbes

Markets Can Determine Drug Efficacy

When Rep. Henry Waxman, D-Calif., wants to get new drugs into the hands of patients quickly and cheaply, he knows just what to do--waive some or all of the Food and Drug Administration's clinical trial requirements...

April 17, 2009 | Forbes

Did Greenspan Cause The Housing Bubble?

Critics across the political spectrum are having a field day blaming the current economic crisis on former Federal Reserve Chairman Alan Greenspan, who they allege carried out an excessively expansionary monetary policy following the recession of 2001...

March 27, 2009 | Wall Street Journal

Did the Fed Cause the Housing Bubble?

It's become conventional wisdom that Alan Greenspan's Federal Reserve was responsible for the housing crisis...

March 24, 2009 | Forbes

Taylor Rules

When Henry Paulson and Ben Bernanke proposed the $700 billion bailout last September, many mainstream economists who spoke out lined up in favor, although about as many economists were critical...

March 2, 2009 | Forbes

Will Obama And Gordon Brown Cook Up A Tax Cartel?

When President Obama and British Prime Minister Gordon Brown meet tomorrow, one of the main items on the agenda will surely be the economy and economic policy...

January 22, 2009 | Forbes

The FDA's Big Bad Wolfe

Since Barack Obama was elected, there has been much hopeful talk about addressing this country's health care problems...

January 7, 2009 | Forbes

Will The Real Christina Romer Please Stand Up?

Most people in the incoming Obama administration--and, indeed, most people-- believe that the Keynesian model of the economy is basically correct...

December 1, 2008 | Forbes

Larry Summers' Judgment

President-elect Obama has appointed Lawrence Summers, former President Clinton's last Treasury secretary, to head his National Economic Council...

November 24, 2008 | Forbes

Has Bush Heard Of Bastiat?

Unemployment benefits extension will extend unemployment...

November 3, 2008 | Forbes

The Employee Suppression Of Choice Act

Last Tuesday on, I compared the economic policy proposals of presidential candidates John McCain and Barack Obama...

October 28, 2008 | Forbes

McCain Vs. Obama: Economics

Predicting and analyzing the economic policies of either a President McCain or a President Obama is difficult for two reasons...

October 14, 2008 | Wall Street Journal

Krugman Helped Us Understand Trade

The Royal Swedish Academy of Sciences announced yesterday that the 2008 winner of the Nobel Prize in Economic Sciences is Paul Krugman...

October 12, 2008 | Monterey Herald

An opposing view on Measure Z

Many of the people who say they hate taxes are advocating yet another tax on Monterey County residents...

October 10, 2008 | Forbes

Learning From The Prisoners

One idea that has swept economics in the last 20 years is game theory...

September 28, 2008 | Forbes

Bernanke's Hype

Giving a great deal of discretionary power to one man, as the bailout bill does, is not generally a good idea. Under the bill, Treasury Secretary Henry Paulson would get to spend $250 billion, immediately if he wishes, and up to $700 billion, on buying unnamed financial assets...

March 27, 2008 | Investor's Business Daily

Blame Federal Gov't, Not The Fed, For Subprime Mortgage Problems

Why do people judge the Federal Reserve, whether under Alan Greenspan or Ben Bernanke, to be a major cause of the subprime bust? ...

November 13, 2007 | Wall Street Journal

Sell the Petroleum Reserve

For quite a while now, the spot price of oil -- that is, the price at which you can buy or sell oil for delivery today -- has been well above the futures price...

October 28, 2007 | Monterey Herald

Residents, businesses suffer

Voters in Pacific Grove will have a chance Nov. 6 to vote on whether to impose three new taxes on others and themselves...

July 20, 2007 | Wall Street Journal

A Rise-able Fallacy

The idea that an increase in economic growth leads to an increase in inflation -- and that decreased growth reduces inflation -- is reflected endlessly in the media...

July 16, 2007 | National Center for Policy Analysis

How to Fix the Alternative Minimum Tax

The Alternative Minimum Tax (AMT) is an income tax monstrosity that denies middle-to-high-income people deductions that would otherwise be legitimate....

June 14, 2007 | New York Sun

Controlling Our Borders

One of the principles Charles Hooper and I state in our book, "Making Great Decisions in Business and Life," is that in solving a problem, any alternatives you consider must be feasible...

May 17, 2007 | Wall Street Journal

Our Lawless FDA

The Food and Drug Administration spends your money and acts in your name to regulate medicines...

May 2, 2007 | Wall Street Journal

Don't Abolish the AMT

In the late 1970s, supply-side economists and journalists, many of them writing on this page, began and won a debate in economics...

April 3, 2007 | New York Sun

Deal or No Deal for Organs?

We've got a deal for you...

February 28, 2007 | Wall Street Journal

Sirius Business

In expressing its strong reservations about the proposed merger between Sirius and XM, the Federal Communications Commission seems to think that there are only two competitors and that a merger would reduce the number to one...

February 6, 2007 | Wall Street Journal

Can the CBO Spell IRA?

Is the share of income of the top 1% in the United States high and rising?

January 11, 2007 | TCS Daily

Top of the World?

This is the final installment of my three-part review of Alan Reynolds's excellent new book, Income and Wealth...

January 10, 2007 | Wall Street Journal


On Monday, Arnold Schwarzenegger presented his proposal for reducing the number of Californians who lack health insurance...

January 3, 2007 | TCS Daily

What the Real-Wage Pessimists Are Missing

Some economists and journalists—I'll call them "the real-wage pessimists"—have claimed that average real wages have fallen during substantial time periods over the last 30 or so years...

December 13, 2006 | TCS Daily

What's Really Happening in the Economy?

How often have you heard that the vast majority of families' incomes in the United States are rising little or not at all, that the middle class is shrinking, that real wages are stagnating, that the top 20%, or 5%, or 1% are getting the lion's share of the gains in the U.S. economy, that average CEO pay is getting to be a couple of orders of magnitude larger than average people's pay, or that mobility across income groups has declined?

November 20, 2006 |

Milton Friedman: A Tribute

In May 1970, a few days after graduating from the University of Winnipeg with a major in mathematics, I flew to Chicago to look into getting a Ph.D. in economics at the University of Chicago...

October 18, 2006 | TCS Daily

When Lady Luck Plays Moneyball

Most sports fans and sports analysts, for all their hours examining their teams, are fundamentally wrong about one important aspect of sports…

September 13, 2006 | TCS Daily

What Are the 'Dynamics of Economic Well-Being'?

Recently, the Census Bureau reported its findings on 2005 household income for the United States...

September 1, 2006 | TCS Daily

Got to Admit It's Getting Better...

In two major newspaper articles, one in last Monday's New York Times (August 28, 2006) and one in last Wednesday's Washington Post (August 30, 2006), two of the nation's leading newspapers do their readers a huge disservice...

August 28, 2006 | TCS Daily

Hurray for Frank Quattrone; Rotten Tomatoes for the Media

Hurray for Frank Quattrone...

August 28, 2006 |

Should the US Nuke Iran and Syria?

In a recent article, "Will the U.S. Defend Itself?", economist Walter Williams seems to make a case for nuclear war on Syria and Iran. His case cries out for a response...

August 28, 2006 | TCS Daily

Hurray for Frank Quattrone; Rotten Tomatoes for the Media

Hurray for Frank Quattrone…

August 24, 2006 | Wall Street Journal

Claims I Didn't Make Turned Into Straw Men

In his Aug. 16 Letter "Who Wants to Work for $5.15 an Hour?" responding to my criticism of the minimum wage ("If Only Most Americans Understood," editorial page, Aug. 1), Robert A. Steinberg makes up three quotes that he claims were from my article -- and then goes on to attack his fabricated quotes...

August 1, 2006 | Wall Street Journal

If Only Most Americans Understood

"The Right Minimum Wage: $0.00…

July 31, 2006 |

Remembering Hiroshima

Sometimes, something happens that is so awful that we find ourselves rationalizing it, talking as if it had to happen, to make ourselves feel better about the horrible event…

September 21, 2005

Vioxx's Runaway Jury

You'd think that a reputable company has at least the same chance of a fair trial as an accused murderer. But as the recent Angleton, Texas, jury's verdict against Vioxx shows, you'd be wrong.

March 16, 2005

A Citizen's Right to Income

A tax increase on people who already get a lousy deal from Social Security is wrong.

November 3, 2004

Avoiding Breadlines for Flu Vaccines

One result of price control programs and liability laws has been that the number of vaccine producers has fallen in thirty years from twenty-five down to five.

June 23, 2004

Price Controls on Gasoline? Bad Idea

Many people are convinced that high gasoline prices are due to oil companies' greed. But that explanation is insufficient.

February 23, 2004

End the FDA's Monopoly

Many users of such dietary supplements rushed to stock up on their supplies before the ban begins.

September 22, 2003

The Case for a Dynamic Economy

The history of economic growth is the history of people making more with less and shifting into new jobs that were unheard of in the previous generation.

July 15, 2002

The Case for Not Invading Iraq

There is little evidence that Hussein is mad, and his rational response to the dangerous incentives President Bush has set up should make us afraid.

May 20, 2002

Supporting the Drug War Supports Terrorists

Moreover, the United States government is effectively supporting left-wing terrorists in Colombia.

March 11, 2002

What Part of “No Law” Doesn’t Congress Get?

"Congress shall make no law . . . abridging freedom of speech." What part of "no law" does Congress not understand?

October 1, 2001

Who Pays for the Patients' Bill of Rights?

The people who actually pay the higher cost of employer-provided benefits are employees.

April 2, 2001

Two Good Reasons for a Tax Cut

Taxes should be cut independent of the current growth of the economy.

August 28, 2000

Make Money Off My Sickness . . . Please

Last May, Senator Paul Wellstone said of pharmaceutical companies, “We have an industry that makes exorbitant profits off sickness, misery, and illness of people and that is obscene.”

February 7, 2000

The Case for Sweatshops

Interviewed recently by a Miami Herald reporter, Ms. Lopez has a message for people in the United States and other wealthy countries who are nervous about buying goods from "sweatshops": "I wish more people would buy the clothes we make."


April 13, 2014 | EconLog

My San Francisco Fed Talk

April 10, 2014 | EconLog

Maximizing Short-Run Profits

March 31, 2014 | EconLog

Please Advocate Your Special Interest Rather than Sticking up for Taxpayers

In response to something I wrote in January, I received a letter last week, postmarked January 30. Well played, U.S. Postal Service. It's like many I've received over the years when the writer doesn't like an article or blog post...
March 30, 2014 | EconLog

Lessons from "The Lives of Others"

March 26, 2014 | EconLog

Pillars of Economic Wisdom in Action

I wrote earlier about a special readings course I put together for people who had done well in my Cost/Benefit course but wanted more economics than they get in our MBA curriculum. As a kind of celebration, a number of...
March 25, 2014 | EconLog

Michael Cannon's Cannon

Cato Institute's health economist Michael Cannon is the lead economist in a legal case that takes on the IRS. The Affordable Care Act (ACA), aka Obamacare, grants tax credits to low-income people who buy health insurance in state-run exchanges. There...
March 23, 2014 | EconLog

Endogeneity and the Drug War

Why the things that happened during the drug war are not a good argument FOR the drug war. And the things that happened BECAUSE of the drug war are a fortiori not an argument for the drug war. Last fall,...
March 19, 2014 | EconLog

David Friedman on Bill Nordhaus; Timothy Taylor on Bad Academic Writing

David Friedman has lately been picking apart a piece written by Yale University's Bill Nordhaus in the New York Review of Books two years ago. I did so in my class on Energy Economics two years ago, drawing on this...
March 16, 2014 | EconLog

Milton and Rose Friedman on Inequality

Last week my group of students who work their way through readings had our last formal meeting. Good news: they decided over drinks afterwards that they want to continue the meetings informally next quarter and one of them suggested calling...
March 13, 2014 | EconLog

Piketty's Dodge on Inequality

New York Times economics columnist Eduardo Porter recently interviewed economist Thomas Piketty on his work on income and wealth inequality. Piketty, in case you haven't followed, has been documenting the increase in income and wealth inequality in the richer countries,...
March 9, 2014 | EconLog

Is Outrage at the Top 1% Distracting Us?

I worry about growing income inequality. But I worry even more that the discussion is too narrowly focused. I worry that our outrage at the top 1 percent is distracting us from the problem that we should really care about:...
March 6, 2014 | EconLog

Was Bork Right About Mergers?

In a just-published NBER study,
March 2, 2014 | EconLog

Reminiscences of Rogge

UPDATE BELOW: Earlier today over at Cafe Hayek, Don Boudreaux highlighted a quote from the late Benjamin A. Rogge. That brought back warm memories for me. Rogge, who lived from 1920 to 1980, was a libertarian economics professor at Wabash...
February 27, 2014 | EconLog

David Friedman on the 97% Consensus on Global Warming

As David Friedman points out, it is hard for us who are not climate scientists to know what is true or false about global warming. But one thing we can sometimes do is check what various writers on climate science...
February 26, 2014 | EconLog

11-99 Foundation: Buying Protection

I live in California, where I often see license plate frames carrying the words,
February 19, 2014 | EconLog

Krugman on Supply-Siders and Incentive Effects of Tax Cuts

Recently, I
February 13, 2014 | EconLog

Open Letter to President Wildes re Professor Block

One of the ways I will occasionally depart from straight economics on this blog is to defend fellow academics from unfair attacks by bullies. When the president of your university attacks you unfairly and in public, he is being a...
February 11, 2014 | EconLog

Krugman and Blinder: Welcome to the Supply Side

Obamacare defenders and Princeton University economists Paul Krugman and Alan Blinder have granted that the Congressional Budget Office is making a reasonable claim in saying that by 2024, Obamacare, if not repealed or delayed, will reduce the number of hours...
February 10, 2014 | EconLog

Why Income Mobility is Larger in the Middle

Whenever we talk about income mobility, we should never forget that we're talking about mobility in each direction. One can move down the income scale as well as up. Indeed, if we measure income mobility of households by movement from...
February 3, 2014 | EconLog

Robert Murphy on the Minimum Wage

In this article, I explain why, even if the revisionist empirical studies are accurate, it still does not follow that the proposed hike in the minimum wage will be a boon for low-skilled workers. I also argue that, because critics...
January 31, 2014 | Cafe Hayek

Confusion About Income Inequality

My Econlog co-blogger, Scott Sumner, on his own blog, The Money Illusion, writes that G.I.'s (he thinks this is Greg Ip) post on The Economist blog is a
January 29, 2014 | Econlib

Marginal Tax Rates: Singing Taxman to My Class

UPDATE BELOW: Often, when I teach my classes about marginal tax rates, I give them a little history about such rates. They're shocked when I tell them that the top U.S. federal marginal tax rate on individual income in the...
January 15, 2014 | Cafe Hayek

John Cochrane Views the World

January 8, 2014 | EconLog

Sitting on an Ocean of Alaskan Oil

January 7, 2014 | EconLog

NSA Spying: A Cost/Benefit Analysis

December 28, 2013 | EconLog

The Economics of Respect

December 18, 2013 | EconLog

Higher Is Not Down

December 5, 2013 | EconLog

Nelson Mandela, RIP

December 5, 2013 | EconLog

Levatter on Brennan

November 26, 2013 | EconLog

The Pigou Club Reconsidered

November 13, 2013 | EconLog

Nowrasteh on E-Verify

October 17, 2013 | EconLog

Reinhardt on Doctors' Monopoly

October 6, 2013 | EconLog

Daniel Goleman's Attack

September 24, 2013 | EconLog

Optimal Minimum Wage?

September 16, 2013 | EconLog

Free Market Schizophrenia

July 10, 2013 | EconLog

Krugman: Where's Your Evidence?

June 9, 2013 | EconLog

Free Markets to the Rescue

June 2, 2013 | EconTalk

California's Phony Budget Surplus

May 30, 2013 | EconLog

Reynolds on Krugman and DeLong

May 29, 2013 | EconLog

Solow on Friedman

May 28, 2013 | EconLog

Jason Furman at CEA

May 1, 2013 | EconLog

Smuggling in Values

April 28, 2013 | EconLog

Budget Cuts Seem to Work

March 31, 2013 | EconLog

David Stockman Screeches

March 19, 2013 | EconLog

Was the Iraq War About Oil?

February 13, 2013 | EconLog

Must Default Be Avoided at All Costs?

February 5, 2013 | EconLog

Krugman on Gains from Trade

January 3, 2013 | EconLog

Thoughts on the Latest Tax Bill

November 11, 2012 | EconLog

My Veterans Day Tribute

November 7, 2012 | EconLog

My Election Outcomes

October 21, 2012 | EconLog

Bruce Bartlett's Mistake

October 18, 2012 | EconLog

CPI Bias and Experiment Bias

October 8, 2012 | EconLog

Henderson vs. Woodruff on Immigration

September 25, 2012 | EconLog

Why Obama Will Be Re-Elected

September 24, 2012 | EconLog

Milton Friedman on Segregation

September 21, 2012 | EconLog

Goodwin's Economix: A Graphic Novel

September 22, 2012 | EconLog

A Free Market In Health Care

September 20, 2012 | EconLog

Krugman Discovers Life Cycles

September 17, 2012 | EconLog

How Economists Helped End the Draft

September 12, 2012 | EconLog

Feldstein And Rosen On Romney Tax Cut

September 11, 2012 | EconLog

Individualism: True And False

September 5, 2012 | EconLog

Gordon On Growth: Parting Thoughts

September 4, 2012 | EconLog

Gordon On Growth: A Critique

September 2, 2012 | EconLog

GOP: Grand Old Politburo

August 20, 2012 | EconLog

Nizer on Fascism and Communism

August 14, 2012 | EconLog

Ethel Rosenberg: Born Bad?

August 6, 2012 | EconLog

Getting Rich in America

July 31, 2012 | EconLog

Memories of Milton

July 23, 2012 | EconLog

The Economics of the Olympics

July 10, 2012 | EconLog

Thomas Ricks's Fiasco

June 27, 2012 | EconLog

Where Are We on the Laffer Curve?

June 24, 2012 | EconLog

Taking Lousy Government for Granted

There are two ways to take lousy government for granted...A case in point is the coming Supreme Court decision on the Affordable Care Act...
June 16, 2012 | EconLog

David Stockman's Time Horizon

One of the biggest "inside politics" articles in 1981 was William Greider's devastating cover story on Ronald Reagan's 34-year-old director of the Office of Management and Budget, David Stockman...
June 10, 2012 | EconLog

Matt Zwolinski on Sweatshops

Philosophy professor Matt Zwolinski has an excellent video on sweatshops at basically like the video, although I have one question and one disagreement...
June 5, 2012 | EconLog

Pooling Risks

John Goodman posted yesterday on another post by law professor Jill Horwitz and economics professor Helen Levy...what I note is that their criticism repeats two common misunderstandings about insurance...
May 28, 2012 | EconLog

A Memorial Day Appreciation

Over at "Facts and Other Stubborn Things," Daniel Kuehn, a frequent commenter on this site, asks that we share thoughts of appreciation for veterans. Here is mine...
May 17, 2012 | EconLog

The Good and the Bad

Scott Sumner has an excellent post about Krugman and about fiscal policy in Britain and Sweden...
May 15, 2012 | EconLog

Are Unpaid Internships Immoral?

Is there a way around this so that more young people from low-income families could find internships? Yes. Allow them to be paid internships but allow the pay to be somewhere between 0 and the minimum wage...
May 10, 2012 | EconLog

Morning Roundup

There are too many interesting things to write about at length this morning and so I'll just say a little about three...
May 9, 2012 | EconLog

Economic Analysis of Prop 29

Next month, we California voters will get to vote on Proposition 29, an initiative to raise the cigarette tax by $1.00 per pack...I'll put my comments under two headings: (1) effect of the tax increase on tax revenues, and (2) effect of the tax increase on health care spending...
May 8, 2012 | EconLog

Regulation Matters More than Taxes, According to Study

The power to tax is the power to destroy. That seems obvious. What may be less obvious is that the power to regulate is the power to destroy...
May 4, 2012 | EconLog

Curley Effect in California

'We call this strategy--increasing the relative size of one's political base through distortionary, wealth-reducing policies--the Curley effect'...I think something similar is happening in California...
May 3, 2012 | EconLog

Paul vs. Paul

I won't analyze line by line, but I will point out where I thought Ron Paul was good and where I thought he was off, and ditto with Paul Krugman...
April 24, 2012 | EconLog

Economists on Health-Care Licensing

Milton Friedman triumphs, kind of...
April 20, 2012 | EconLog

Blinder on Health Care

Alan Blinder, in today's Wall Street Journal, has an interesting piece attacking Supreme Court judges who would actually seriously consider finding the recent health care law unconstitutional...
April 19, 2012 | EconLog

The "Buffett Rule's" Marginal Tax Rates

I've been trying to figure out what marginal tax rates would be if the so-called "Buffett Rule" were passed...
April 18, 2012 | Library of Economics and Liberty

Would Posner and Weyl Ban Gambing--and Tennis?

Robin Hanson reports on a popular article based on a paper by law and economics professors Eric Posner and Glen Weyl in which they advocate a kind of Food and Drug Administration for financial instruments...
April 14, 2012 | EconLog

Cowen on College Subsidies

Tyler Cowen's latest blog post is rich with assertions. This one stood out: Postwar higher education has proven one of America's most effective subsidies, and it has paid for itself many times over...
April 12, 2012 | EconLog

The Ten Pillars of Economic Wisdom

A few times I've referred to "The Ten Pillars of Economic Wisdom" that I teach at the start of every economics course I give...
April 9, 2012 | EconLog

Should Medicare Be Cut?

With Medicare spending growing as it is likely to and becoming probably the main source of future large federal deficits, some federal government sometime will have to rein it in...
April 6, 2012 | EconLog

Obama is a Social Darwinist

President Obama recently called a House Republican budget plan "thinly veiled social Darwinism"...But Obama is a social Darwinist too. So is everybody. Let me explain...
March 25, 2012 | EconLog

The Problem with a Variable Tax on Gasoline

A policy allegedly aimed at undercutting OPEC's monopoly behavior would actually strengthen it...
March 21, 2012 | EconLog

The Thai Economy

Earlier this month, I returned from a 10-day trip to Thailand. Here are some impressions of the Thai economy...
March 18, 2012 | EconLog

Stanley Fish: "Might Makes Right"

This is the closing paragraph of a remarkable op/ed by noted literary critic Stanley Fish...
March 16, 2012 | EconLog

Sunk Cost in War

I am used to people making the sunk cost fallacy when discussing war, that is, in one of the most important cases in which not to commit the fallacy...
March 10, 2012 | EconLog

Does Obama Bear Responsibility for the Increased Gasoline Price?

His saber rattling over Iran makes people nervous about war with Iran. A war with Iran would likely cut Iran's output...
March 8, 2012 | EconLog

Minimum Wage: Charles Murray Surrenders

There's a simple solution that I have proposed earlier: allow internships to pay less than the minimum wage...
February 28, 2012 | EconLog

Peter Thiel on Regulation and Progress

I think [Thiel's] big-picture story, that heavy regulation slows progress, is basically right. But I also think he missed a lot of more-subtle technological change that has improved things in many industries...
February 13, 2012 | EconLog

How to Cut the Cost of Contraceptives by Regulating Less

If, instead, drug companies were allowed to sell contraceptives over the counter, access would rise and cost would fall...
January 31, 2012 | EconLog

Report on the Austrian Economics Conference, 1975

Many people have written about the first Austrian economics conference, the one held in 1974. I remember it well and have many reminiscences...
January 28, 2012 | EconLog

The "Bubble:" How a High-School Dropout Taught Me Capital Theory

Harry Watson, my roommate, and I were looking for an apartment in West Los Angeles or Santa Monica...
January 20, 2012 | EconLog

The Optimal Capital Gains Tax Rate is Below Ten Percent

In a 2009 study done for the Institute for Research on the Economics of Taxation (IRET), Ohio State University economist Paul D. Evans considers a broader criterion: the effect of capital gains tax rates on overall federal tax revenues. What's the difference...?
January 19, 2012 | EconLog

Jeff Sachs is Right--and Misleading

My friends Steve Horwitz and Don Boudreaux have taken strong exception to a recent piece by Jeff Sachs. But I think Sachs got this one right...
January 12, 2012 | EconLog

Caplan, Kahneman, Bastiat, and the First Amendment

Bryan Caplan's post earlier this week, "Eureka! Economic Illiteracy as Mental Substitution," is one of his best ever...
January 11, 2012 | EconLog

Don Lavoie on the Socialist Calculation Debate

The late Don Lavoie was one of the most informed and insightful modern economists on the ins and outs of the famous "socialist calculation debate...
January 9, 2012 | EconLog

Mitt Romney on Mercantilism

[Romney has said] that the Chinese want to avoid a trade war with the United States more than the U.S. wants to avoid one with China because they have more at stake. But that's false...
January 6, 2012 | EconLog

Bastiat's Insight on Government Inaction

I've noticed in discussions--in person, on Facebook, and in blogs--how hard it is for most people to see that opposition to having the government subsidize or require activity X does not mean that one opposes activity X...
January 3, 2012 | EconLog

The Interesting Political Economy of the Social Security Tax Cut

[An interesting op/ed] got me thinking more about something I had been wondering about: the interesting political economy of the recent [extension of unemployment benefits and payroll tax cut] bill...
December 11, 2011 | EconLog

NYT's Jeff Sommer's Shoddy Reporting

In "Good Morning: You're Nobel Laureates," a December 3 piece on Thomas Sargent and Christopher Sims, the most recent recipients of the Nobel prize in economics, Jeff Sommer writes...
November 15, 2011 | EconLog

My Talk at Berkeley

One enterprising student, Scott Gibb, recorded all but the first two minutes of the talk I gave at Berkeley earlier this month...My talk is titled, "The Case For a Non-Interventionist Foreign Policy." It's here...
November 10, 2011 | EconLog

Mark Thoma: Government Welfare Programs Have no Effect on Incentives

In a blog post today, Mark Thoma shows a graph giving the poverty rate with and without "the safety net," the euphemism for government welfare programs...
November 9, 2011 | EconLog

What Greg Mankiw's Defenders Missed

Last Wednesday, Greg Mankiw blogged about the students who walked out of his Ec10 class...
October 31, 2011 | EconLog

Nick Gillespie's Interview with Ken Burns on Prohibition

Reason TV has up two parts of an interview that Nick Gillespie did recently with interviewee Ken Burns...
October 7, 2011 | EconLog

How Important Was Smoot-Hawley?

I used to think that the Smoot-Hawley tariff was the fourth most important cause [of the Great Depression]...
October 5, 2011 | EconLog

Steve Jobs: Insanely Great

Steve Jobs's career was an extreme illustration of Friedrich Hayek's point about people using their own "local knowledge" to make good economic decisions...
September 11, 2011 | EconLog

The Economics of Judicial Conflict of Interest

Jeffrey Toobin implicitly makes a strong case that may surprise his fans...
September 7, 2011 | EconLog

Warren Buffett--or Howard Buffett?

A non-libertarian economist colleague recommended Warren Buffett's recent op/ed, "Stop Coddling the Rich," to me and I decided to read it for myself. I came away unimpressed...
August 21, 2011 | EconLog

What Happened to the Mixed Economy?

Open up any principles of economics textbook written between the 1950s and the early (and maybe even late) 1970s, and the odds are high that it will say that the United States has a mixed economy...
August 16, 2011 | EconLog

How I Fought Envy

I totally agree with Bryan Caplan's post on envy. Well done, Bryan. And I can say from personal experience that I fought it in myself...
August 15, 2011 | EconLog

A Day That Should Live in Infamy

Today is the 40th anniversary of President Nixon's announcement of price controls on the American economy...
August 15, 2011 | EconLog

Are Taxes on Corporations Taxes on People?

Last week, Mitt Romney, in a rare moment of passion, said that "corporations are people...
August 4, 2011 | EconLog

Summers Way Off on FDR and 1941

This article is Larry's attempt to justify large increases in government spending to increase employment. There is a huge factual problem with Larry's statement...
July 22, 2011 | EconLog

Tom Saving on the Social Security Trust Fund

I've been pointing out for years...that the Trust Fund is a fiction whereby one part of government owes money to another part of government. But what I had failed to follow the implications of that fact...
July 19, 2011 | EconLog

Debate with Ian Fletcher, Part Deux

I appreciate a number of the comments people made on my previous post on my debate with Ian Fletcher...that people should be free to make their own decisions even if that means that they consume more and save less than [Fletcher] would like...
July 14, 2011 | EconLog

Clarity on the Budget Debate

Most of the media have done a worse job than usual of reporting on the debt ceiling/budget debate...
July 11, 2011 | EconLog

Jonathan Gruber's Analysis of "ObamaCare"

Last month, MIT economist Jonathan Gruber published an NBER Working Paper, "The Impacts of the Affordable Care Act: How Reasonable are the Projections?" WP No. 17168...
July 7, 2011 | EconLog

Consumer Surplus from the Internet

"Would you give up the Internet for One Million Dollars?" That's the title of a 5-minute YouTube video produced by the Fund for American Studies. There's a lot of good stuff packed into this video plus some apparently contradictory stuff...
July 2, 2011 | EconLog

TSA Wins Another Round

The Texas legislature, after the U.S. Attorney John E. Murphy threatened that the TSA would ban all flights out of Texas if the measure passed, got cold feet about a measure to rein in TSA officials' sexual assaults on airplane passengers...
June 27, 2011 | EconLog

Medicare: Almost Everybody Loses

John Goodman's health policy blog this morning summarizes the results of a study done for the National Center for Policy Analysis...But there's a big problem with their study...
June 23, 2011 | EconLog

Obama's Criminalization of Business

Quit talking about taxes. You've won the tax issue and taxes are unlikely to fall further in the next ten years and, most likely, the next 30 years. Instead, talk about the Obama administration's hostility to business...
June 4, 2011 | EconLog

Sen on "Methodological Individualism"

About 14 people, roughly evenly split between philosophers and economists, are working our way through Amartya Sen's The Idea of Justice. One of the things I'll raise is a jarring passage on "methodological individualism..."
June 2, 2011 | EconLog

Medicare, Food Stamps, and Rationing

Bryan raises a good question: "Is it 'government rationing of food' if you can't buy cigarettes with food stamps?" The answer is no...
May 25, 2011 | EconLog

John Papola on Teaching Economics

I gave a talk at a joint Institute for Humane Studies/Mercatus Center event in San Francisco a couple of weeks ago...
May 19, 2011 | EconLog

Nikita Khrushchev on War

I've been reading John Mueller's excellent book, Atomic Obsession: Nuclear Alarmism from Hiroshima to Al-Qaeda...
May 18, 2011 | EconLog

Steven Levitt's "Daughter Test"

So if I followed Levitt's test, I would not object to a whole lot of things governments want to do to people. What's missing in Levitt? The whole idea of tolerance...
May 17, 2011 | EconLog

Good News on California Schools

The most straightforward way to cut government's role in education is not to create a complicated voucher system that could easily morph into more government spending but to cut government spending...
May 15, 2011 | EconLog

Atlas Shrugged--And I Didn't

My title is a takeoff on the title of P.J. O'Rourke's panning of the movie Atlas Shrugged...
May 14, 2011 | EconLog

Show Me Compassion: Throw Me in Prison

Washington Post columnist and former Bush speech writer, Michael Gerson, gives a strange argument against Ron Paul...
May 9, 2011 | EconLog

Nyman's Non Sequitur on Health Insurance

Nyman argues that many health economists have overstated moral hazard in health insurance. Whether that's right is an empirical issue, but let's say he is right. What follows from that...?
May 4, 2011 | EconLog

How Osama Won

One of bin Laden's main goals, claims Klein, was to bankrupt the U.S. economy...
May 4, 2011 | EconLog

Who is "We"?

In a comment on my most-recent post, Arnold Kling seems to set up a straw man...
May 4, 2011 | EconLog

David Gratzer's Misleading Article on Canada's Election

Gratzer leaves out the tremendous accomplishments of the Liberal Party between 1995 and 2006...
May 4, 2011 | EconLog

A Buck is a Buck

Nick Schulz takes on Ezra Klein and me, calling our argument "preposterous"...
April 29, 2011 | EconLog

Greider's Ad Hominem

Examples of clearcut ad hominems, I've found, are rarer than I thought before I started looking for them...But William Greider's argument against Standard & Poor's warning on U.S. government debt is about the cleanest case of an ad hominem I've come across in a while...
April 24, 2011 | EconLog

Reply to Aeon Skoble

A big part of the problem with [Aeon Skoble's] argument is his implicit collectivism. I'll explain below...
April 18, 2011 | EconLog

Mercantilism, "Chopsticks" and Otherwise

[Last week] I saw economist George Ayittey give a talk on why most African economies are in such sad shape. He blamed the things free-market oriented economists tend to blame...Then he turned to the role of China in Africa...
April 17, 2011 | EconLog

David Cay Johnston Plays with the Facts

In the latest issue of our local left-wing weekly, the Monterey County Weekly, David Cay Johnston has an article, "Tax Facts Hardly Anyone Knows...
April 12, 2011 | EconLog

Garett Jones on IQ and Economic Growth

One implication for countries that want more growth, [Garett Jones] said, is to get higher-IQ immigrants...
April 6, 2011 | EconLog

Anti-Child Labor or Anti-Market?

[My] conclusion is that the law against child labor is really a law against children making money. Thanks, government...
April 1, 2011 | EconLog

Notes on Kauffman Bloggers Forum

I watched live almost all of each morning presentation today. Some highlights...
March 29, 2011 | EconLog

Are High Food Prices Due to the Fed?

I'm not sure about the rising food price/political unrest issue--that could well be true. But I'm pretty sure that the Fed printing money/rising food prices link is weak...
March 23, 2011 | EconLog

My AEA Speech on the Presidential Panel, 1980

In 1980, the American Economics Association had its annual meeting in Denver in early September...
March 23, 2011 | EconLog

My AEA Speech for Ed Clark, 1980

I come before you to speak on behalf of Ed Clark, the Libertarian Party's candidate for President...
March 21, 2011 | EconLog

John Goodman on Inequality and Lotteries

I can't think of anything in the private sector that even begins to compare to this reverse Robin Hood redistribution from the poor to the rich and the nouveau riche...
March 20, 2011 | EconLog

How to Help Poor People in Poor Countries, Part 2

I was gratified by the response--in quantity and quality--to my post yesterday, "How to Help Poor People in Poor Countries, Part 2." I promised to say what my colleagues wrote in response to my question..
March 19, 2011 | EconLog

How to Help Poor People in Poor Countries, Part 1

A few weeks ago, we were discussing government-to-government foreign aid...
March 16, 2011 | EconLog

Effect of Monopoly Unions on Income Distribution

Let's look here at the effect of unions on owners of businesses that are unionized...
March 13, 2011 | EconLog

Minimum Wage: The Missing Explanation

So the unemployment rate among relatively unskilled workers is high--16 percent--and it's hard to explain why they can't find jobs "for less pay?" No, it's not, at least for some of them...
March 12, 2011 | EconLog

Power Corrupts

"Power tends to corrupt: absolute power corrupts absolutely." This quote is, of course, from Lord Acton. Today, Megan McArdle has laid out beautifully how it corrupts...
March 9, 2011 | EconLog

Failings of Left-Wing and Market-Oriented Economists

Tyler Cowen and co-blogger Arnold Kling have commented on what they see as the main failings of left-wing and market-oriented economists...But here's one failing, that neither Tyler nor Arnold mentions...
March 6, 2011 | EconLog

Do Labor Unions Promote the Middle Class?

What [Jacob S.] Hacker and [Paul] Pierson have done here [in the Washington Post] is point to one effect of unions--labor economists call it the "threat effect"--but left out another that is stronger...
March 2, 2011 | EconLog

Keynesian Politics and the Minimum Wage

Last month, Alex Tabarrok posted an interesting piece on the failure of Keynesian politics...It would be nice to see some Keynesians follow in their predecessors' footsteps...
March 1, 2011 | EconLog

Jack Calfee, RIP

[Calfee] was not just a first-rate economist, but also he was a first-rate economic historian. He died just shy of his 70th birthday...
February 28, 2011 | EconLog

Unions: Bob Barro's Mistaken Analogy

An analogy for business would be for providers of airline transportation to vote to force all airlines, even those that don't want to join, to comply with ticket prices that the business association sets...
February 26, 2011 | EconLog

Distribution of Tax Burden by Quintile

In comments on my post on Rand Paul and David Letterman, some commenters expressed interest in seeing the data on overall federal tax burden, not just the burden of the federal income tax...
February 22, 2011 | EconLog

Home Schooling and Socialization

David Friedman has an excellent comment on home schooling and socialization, in response to another commenter, on Bryan Caplan's recent post. Here are my thoughts...
February 20, 2011 | EconLog

Collective Bargaining "Rights"

Here is a discussion by an opponent of Walker's move that, as far as I can tell, gets the facts right. Except for one thing. It's not about rights. It's about power...
February 20, 2011 | EconLog

What is Freedom of Speech?

There are clear cases where U.S. government officials crack down on freedom of speech. The Federal Communications Commission does it regularly. This isn't one of them...
February 13, 2011 | EconLog

The "Right" Amount of Manufacturing

Free-trade critic Ian Fletcher argues that the United States has too little manufacturing. Even if manufacturing output is at an all-time high, he argues, it's still too low...
February 6, 2011 | EconLog

Now versus 1973

There's been a lot of discussion in the blogosphere lately about whether we're better off--and if so, by how much--than our counterparts in 1973...
February 4, 2011 | EconLog

The Debt Limit Debate

On January 6, 2011, Treasury Secretary Tim Geithner sent a letter to Harry Reid in which he stated: "Failure to raise the [debt] limit would precipitate a default by the United States..."
February 1, 2011 | EconLog

Clarification on Consumer Surplus

Commenters on my previous post on consumer surplus (CS) raised some questions that I want to respond to...
January 31, 2011 | EconLog

Taking Consumer Surplus Seriously

As someone who takes it seriously--I don't know of any economist who doesn't--I want to explain (1) what consumer surplus is and (2) why I take it seriously...
January 28, 2011 | EconLog

Great Stagnation or Lousy Data?

Any claim we make based on aggregate data is only as good as those data. Brink Lindsey has pointed out that, contrary to Tyler Cowen, the so-called Great Stagnation that Tyler writes about is not so much a stagnation as a reversion to a lower long-term growth trend...
January 27, 2011 | EconLog

Brett Arends on CPI

Brett Arends has an article in the January 26 Wall Street Journal titled, "Why You Can't Trust the Inflation Numbers." His distrust is all in one direction: he thinks the Consumer Price Index understates inflation. My distrust is all in the other direction: I think the CPI overstates inflation...
January 26, 2011 | EconLog

Open Immigration: How Many Would Come?

I gave what I thought to be an upper estimate of 300 million in a couple of years. Most people who commented on this, including Bryan, thought it to be too high. It well could be too high, but I found the arguments for why it's too high largely unpersuasive...
January 25, 2011 | EconLog

Questions on Immigration

While I agree with co-blogger Bryan that it would be desirable to let way more people into the United States, I haven't seen him answer in a satisfactory way some of the arguments against completely open borders...
January 12, 2011 | EconLog

Do People Always Avoid War?

In two separate blog posts, co-blogger Bryan addresses my comments on pacifism and then argues that people generally avoid fighting. I think he makes good points but he way overstated...
January 11, 2011 | EconLog

John Green on Freedom

[Green is] saying that even if freedom leads to more random acts of violence against innocent people, reducing freedom is even worse...
January 9, 2011 | EconLog

McArdle Waves the White Flag

In a post on a serious proposal to almost double the Illinois state income tax, Megan McArdle writes...
January 8, 2011 | EconLog

What is Cornucopia? Boudreaux vs. DeLong

Blogger and GMU economics professor Don Boudreaux has challenged blogger and Berkeley economics professor Brad Delong to a bet. Brad has turned down the bet and proposed his own bet...It seems to turn on the issue of what "cornucopia" means...
January 5, 2011 | EconLog

John Goodman on Magnitude of Health Problem

This is from health economist John Goodman's latest blog post, "Health Problem Quantified." The whole thing is eye-popping...[John] lays out how the basics of public choice imply that Obamacare should be easier to repeal than most laws...
January 3, 2011 | EconLog

Health Care: Costs, Spending, and Choices

This is from the abstract of "How Well Are Social Security Recipients Protected from Inflation?"...The title plus a quick reading of the abstract will cause many readers to conclude that Social Security benefits, inflation-adjusted, are declining. But that's probably false...
January 2, 2011 | EconLog

Further Advice for a Future Regulator

Tyler Cowen posted a while ago about some advice for a future regulator...I have two pieces of advice of my own to add...
January 1, 2011 | EconLog

Question for My Foreign-Policy Critics

In the comments on my post yesterday, Prakhar Goel, Patrick R. Sullivan, and Shayne Cook were critical of my views on U.S. foreign policy...So here's my question to them...
January 1, 2011 | EconLog

Reply to My Critics on Foreign Policy

...[I]f you say that given the facts of the case, the U.S. government has the right to invade Afghanistan and put innocent people at risk..., then it follows that the Venezuelan government has the right to attack the United States and put innocent Americans at risk...
December 13, 2010 | EconLog

Has the Word "Conspiracy" Lost Its Meaning?

Next time you hear someone attribute a belief in conspiracy to someone else, ask yourself if the person making the attribution is talking about conspiracy or is simply talking about, possibly unethical, self-dealing...
December 12, 2010 | EconLog

Miron and McArdle on WikiLeaks

On his show this Sunday on Fox Business, John Stossel had as panelists David Boaz, Jeff Miron, Larry Elder, and Megan McArdle. They handled most of the issues beautifully. But there was one clearcut exception: WikiLeaks...
December 9, 2010 | EconLog

The Stimulus Worked, Kind of

Why do I say stimulus worked? Because I don't judge it by Keynesian criteria. I judge it by efficiency criteria...
December 6, 2010 | EconLog

The Amazon Boycott: Blaming a Victim

Amazon had the courage to host WikiLeaks and then it gets blamed for buckling under government pressure? This makes no sense, especially since the boycotters are likely to take their business to companies that never supported WikiLeaks...
November 29, 2010 | EconLog

Price Controls and Black Markets in Canadian Health Care

When I teach a segment on Canada's extreme price controls on health care--set typically at zero for the patient--I ask my students what they think would result...
November 21, 2010 | EconLog

TSA: Totally Subjugating Americans

I've been working on what TSA really stands for and the title above is the one I've narrowed in on. I'd be interested in hearing yours. A few developments...
November 18, 2010 | EconLog

One and a Half Cheers for Fox News

Senator Jay Rockefeller made a splash Wednesday by suggesting that the Federal Communications Commission shut down the Fox News Channel and MSNBC...
November 18, 2010 | EconLog

Heilbroner on Forced Labor

Bryan's various posts on Eugene Richter's dystopian novel, Pictures of the Socialistic Future, persuaded me to read the book...
November 16, 2010 | EconLog

Monetary Policy: Giving and Buying

In discussions of monetary policy, I've noticed that some discussants fail to note the distinction between giving and buying...
November 15, 2010 | EconLog

Abolish the TSA

Art Carden has an excellent article on in which he advocates abolishing the TSA. I give a segment on this in my econ class when I discuss, at length, Hayek's "The Use of Knowledge in Society." How does Hayek's article apply...?
November 14, 2010 | EconLog

I Agree: Budget Cutting is Easy

I found it way easier than I thought it would be to cut the federal budget on the New York Times' interactive site. After I was done, the Times announced that I had solved the deficit. How did I do so...?
November 8, 2010 | EconLog

Should the Cost of War Include Interest Payments?

In a recent article, Bob Murphy responds to my statement that counting the interest cost on the debt generated by war spending is not justified. I argued that it's double counting and that the initial outlay is the correct measure of the cost. Bob lays out my argument more completely than I did...
October 30, 2010 | EconLog

Abolition of the Corporate Income Tax

Megan McArdle has a good post on her case for abolishing the corporate income tax. I say "good," not "excellent," because, in the midst of a comprehensive though succinct analysis, she doesn't get the issue of incidence correctly...
October 23, 2010 | EconLog

The Supremacy Clause

Some opponents of California's Proposition 19, which I posted about earlier, claim that if it passes, California's state law will conflict with federal law on marijuana. Then, they argue, because of the supremacy clause of the U.S. Constitution, federal law will dominate...
October 21, 2010 | EconLog

California's Proposition 19

I voted for [Proposition 19] because I want the government to let people do, in the late Leonard Read's inimitable phrase, "anything that's peaceful." But I did have doubts...
October 18, 2010 | EconLog

Obama's Almost Contradiction

Obama admits there's no such thing as a "shovel-ready project" even though a huge part of the argument for the 2009 increase in domestic spending was that it would go to "shovel-ready projects..."
October 17, 2010 | EconLog

Lionel McKenzie, RIP

Lionel McKenzie, the man who started the University of Rochester's Ph.D. program in the 1950s, died last week. He was one of the heavy-hitting contributors to general equilibrium theory...
October 15, 2010 | EconLog

Peter Diamond on Social Security

In 1977, President Carter proposed that Social Security benefits be indexed, not to the price level as had been the case, but to wages. Because real wages tend to rise, this wage indexing would be expected to cause Social Security spending to rise faster than otherwise...
October 14, 2010 | EconLog

David Ignatius, Court Reporter

[David] Ignatius asks why there is so much rage against the federal government given how good policy from Washington has been. Ignatius's Exhibit A is the TARP...
October 11, 2010 | EconLog

My Response to Karier's Criticism

In 9 of the last 14 years, I have written the Wall Street Journal article that appears the day after the Nobel prize in economics is awarded...
October 7, 2010 | EconLog

Bill Gates on Education and Philanthropy

I was impressed by the latest "60 Minutes" report on Bill and Melinda Gates and many of their choices about what to spend their fortunes on...
October 7, 2010 | EconLog

Krugman, Tennessee Fires, and Health Care

So which do you think is worse: not providing health care to someone who doesn't pay or forcibly preventing someone from getting health care who is willing to pay...?
October 5, 2010 | EconLog

Bizarre Salon Attack on Libertarians

Alex Pareene, at Salon, has a bizarre attack on libertarians. He titles it "For-Pay Fire Department Lets Man's House Burn..." It turns out, though, that the fire department in Tennessee was not a private for-profit fire department...
September 29, 2010 | EconLog

Dorman on Minimum Wage

A few days ago I posted about economist Peter Dorman's views on the minimum wage and just noticed that a few days later he replied as a commenter. This is my reply to him...
September 24, 2010 | EconLog

Hedengren et al and Dorman Advance the Ball

In an article in Econ Journal Watch, David Hedengren, Dan Klein, and Carrie Milton present data showing a sharp divide among economists who sign petitions on economic policy issues...Recently, Peter Dorman, one of the people who signed a lot of liberty-reducing petitions, responded...
September 22, 2010 | EconLog

Economists Signing Petitions

Dan Klein and David Hedengren have a piece at Cato on economists signing petitions. One of their basic findings is how little overlap there is between the group of economists who sign anti-freedom petitions and the group who sign pro-freedom petitions...
September 18, 2010 | EconLog

Caplan On Immigration

I would say that Bryan Caplan hit a home run with his recent lecture on immigration, but that would be an understatement. Bryan was the Mr. October of economists...
September 14, 2010 | EconLog

Are Social Security Commitments a Sunk Cost?

In a word, No...
September 13, 2010 | EconLog

Social Security: The Privatization Shell Game

Bryan posits a policy in 2005, had Bush succeeded beyond his wildest dreams, of privatizing Social Security. Bryan gives an argument against that. But..[t]he way I put it then was that this kind of privatization is a shell game that ends up actually reducing economic freedom even if it works...
September 11, 2010 | EconLog

Hummel on Government Military Pay Policy

When you consider how young people's discount rates fall with age, taxing them heavily while they're really young and then compensating them when they're five years older is even more perverse than it might at first appear...
September 11, 2010 | EconLog

My 2003 Bet

If you think unintended consequences apply to domestic economic policy, where, at least, some of the results of the policies are visible to people who live here and some of the victims get to vote, think about how bad the unintended consequences can be when the victims aren't people who are visible...
September 9, 2010 | EconLog

Taking Up Bryan's Challenge

The fact is that many people (I think most) do let schooling interfere with their education...
September 7, 2010 | EconLog

Germany's Economic "Miracle"

Larry White has a good op/ed in tomorrow's Wall Street Journal on Germany's post-World-War-II economic miracle...
September 7, 2010 | EconLog

Unintended, but Totally Predictable, Consequences

Even though this action was a totally predictable response to the incentives we set up, it's unwarranted and unnecessary...
September 6, 2010 | EconLog

The Medicare Fraud in Our Future

In tonight's 60 Minutes episode, the lead item was on the huge amount of Medicare fraud that takes place...
September 5, 2010 | EconLog

Tax Rates, 1990 to Now

In a comment on my post, "From the Vault: My Review of Krugman," commenter David C [commented]...I have two responses...
September 4, 2010 | EconLog

Good News about the Oil Spill

Here's a microbe that even scientists didn't seem to know much about and it comes along and saves the day. And yet many people would have us believe that we can predict the weather on Earth 100 years from now...
September 1, 2010 | EconLog

David Friedman on Eggs and Quality

[David Friedman] points out that even though the British government doesn't require vaccination of hens against salmonella, 90 percent of egg producers have their hens vaccinated. Why...?
August 30, 2010 | EconLog

Adam Smith on Ford's $5 a Day

Don Boudreaux has an excellent post taking on the myth that one reason Henry Ford paid the huge (at the time) daily wage of $5 was that he wanted workers to have more money to buy his cars. Don gives an alternate explanation...
August 26, 2010 | EconLog

GDP and Well-Being

If you, like me, liked Arnold's post today on the pitfalls of GDP, take a look at my piece titled "GDP Fetishism." I explicitly address, among other things, the huge problem with valuing the G (government spending on goods and services) part of GDP at cost...
August 22, 2010 | EconLog

Do Mark Shields and Michael Gerson Understand Principles?

It's not really surprising that neither Shields nor Gerson nor the headline writer understands the difference between defending someone's right to do something and defending the doing of it...
August 21, 2010 | EconLog

My Reason Interview

Peter Suderman of Reason interviewed me last week in connection with a short article I did on how Canadian politicians Jean Chretien and Paul Martin turned around the federal budget from persistent deficits to persistent surpluses (until the latest recession)...
August 19, 2010 | EconLog

Geraldo Rivera as Coase

Just watching the O'Reilly Factor a few minutes ago, I saw Geraldo Rivera make an interesting proposal about the controversial mosque/athletic facility/culinary school/art studio near ground zero in Manhattan...
August 16, 2010 | EconLog

Harry & Teddy and High Inflation

This is from Thomas Griffith, Harry and Teddy, a book about the relationship between Henry R. Luce and Theodore H. White, much of which revolved around their passion and thoughts about China under Chiang Kai-Shek...
August 16, 2010 | EconLog

Taking Dean Baker Seriously

My book review of Dean Baker's short book, Taking Economics Seriously, is just out in Policy Review. Although I liked a fair amount of the book--see my review--Dean restricted himself with his implication that unless a large number of people hold a view, the view does not have to be taken seriously...
August 10, 2010 | EconLog

Mark Kleiman on Responsibility

In the video on this page, economist Mark Kleiman, whose expertise is on the drug war, tells of an interesting approach taken by a Hawaiian judge to make people keep their promises not to use illegal drugs...[W]hat I found interesting is Professor Kleiman's idea of responsibility...
August 9, 2010 | EconLog

The Origin of Origin Laws

Bryan Caplan asks the normative question, "Is anyone willing to often even a semi-plausible economic argument in defense of mandatory national origin labels?"...I'm not. But I do have an answer to this positive question: what is the origin of national origin labels...?
August 7, 2010 | EconTalk

Jerry Jordan on Regime Uncertainty

In this five-minute interview with Karen Gibbs, Jerry Jordan lays out nicely the "regime uncertainty" (Bob Higgs's term) that we face...
August 6, 2010 | EconLog

How FDA Regulation Stifles Drug Development

In the current issue of Regulation magazine, I have a review of two books, Overdose, by Richard Epstein, and Leviathan's Drug Problem, by John R. Graham. Both are excellent. Although Epstein's book came out in 2006, it didn't make much of a splash. More's the pity, because it's full of insights...
August 4, 2010 | EconLog

How Don Boudreaux Got Hooked on Economics

This is the story Don told me about how he got hooked on economics. I tell this story whenever I teach the economics of price ceilings, for reasons you'll see shortly...
August 2, 2010 | EconLog

Murphy on Discrimination

This month's Feature Article on Econlib, by economist Robert Murphy, is the nicest succinct article I've seen on how free markets make people pay a price for the kind of discrimination that most people abhor...
August 1, 2010 | EconLog

In Praise of Don Boudreaux

Don, an economics professor at George Mason University, has mastered the art of writing letters to the editor...The unifying theme in virtually everything he writes is why markets and freedom generally work so well, why government generally destroys things, and how people have such a double standard...
July 27, 2010 | EconLog

Mark Thoma Doesn't Get It

The debate between advocates of government intervention like Mark and critics like me is still unjoined--by Mark...
July 27, 2010 | EconLog

Government as Deus Ex Machina

When people advocate government intervention, they rarely, maybe never, tell us how the incentives will be set up so that government will do the right thing...
July 27, 2010 | EconLog

How Many Jobs, Two?

I said in my previous blog that I would give an unspecified prize to the best proposal for getting rid of a government ban on some peaceful activity...So let me give the top few and why...
July 24, 2010 | EconLog

How Many Jobs?

If a local government in Pacific Grove or elsewhere got rid of [certain] laws, how many extra productive jobs would be created? How many people would hire workers to cut down trees, build extra rooms, etc...?
July 23, 2010 | EconLog

Objectivist Attacks Property Rights

Sometimes it seems as if the world has turned upside down. Check out this debate between Pamela Geller, an Objectivist who likes the work of Ayn Rand [her blog is] and Ibrahim Ramey of the Muslim American Society...
July 21, 2010 | EconLog

Paul Samuelson's Prediction for Post World War II

Arnold Kling and I have been discussing what an incredible counterexample to the Keynesian model the post-WWII years are. It occurred to me to check what Keynesians were predicting would happen after the war ended. Here's one of them...
July 21, 2010 | EconLog

Paul Gregory on Communism

Although I haven't found time to listen to more than about 20 of Russ Roberts's Econtalk podcasts, one of his latest, his interview with our Hoover colleague Paul Gregory, is one of the best I've heard. Here are some of the highlights...
July 19, 2010 | EconLog

The Rational Voter?

When people come here from other countries, sometimes it's because they want more freedom and sometimes it's because they want more wealth. They see the possibilities for wealth but don't necessarily understand what political and economic system led to that wealth...
July 16, 2010 | EconLog


A number of commenters found, as did I, that Bryan's conservative missionary statement was quite powerful...
July 13, 2010 | EconLog

Political Coalitions and the Tea Party Movement

Like co-blogger Arnold, I enjoyed reading the discussion among Brink Lindsey, Jonah Goldberg, and Matt Kibbe about the Tea Party Movement and whom libertarians should ally with. All three made good points but none of the three addressed a key issue: what's the context...
July 12, 2010 | EconLog

Celebrate Diversity, But Don't Ever Talk About It

[Steve Sailer] ends his discussion with this line, which I think is the best in a thoughtful, profound book: "We're supposed to celebrate diversity, but not notice it..."
July 8, 2010 | EconLog

Laffer on Unemployment Insurance

Arthur Laffer, whose work I've often respected and who, I think, has been underappreciated by the economics profession, has a piece in today's Wall Street Journal on unemployment insurance (UI)...
July 2, 2010 | EconLog

Take That, Keynes and Lerner

Paul Martin, the Minister of Finance for Canada from 1993 to 2002 and Prime Minister from 2003 to 2006, was the person most responsible for bringing down government spending and government debt as a percent of GDP...
June 30, 2010 | EconLog

"Worker Bee" Stings the Blogosphere

The title I've chosen for this post could have been the title of a short recent piece by self-described "worker bee" economist Kartik Athreya. Economics is hard, says Athreya. Well, yes. So what follows from that...?
June 28, 2010 | EconLog

Russ Roberts on Hayek

Russ Roberts has a nice op/ed on Hayek's main ideas in today's Wall Street Journal. He highlights four contributions of Hayek...
June 28, 2010 | EconLog

The Everyday Wonder of Markets

We are so used to the everyday wonder of markets that we have little wonder…
June 24, 2010 | EconLog

Bartlett's Final Chapter

His main point in the chapter seems to be that because of huge spending commitments in the future, "we" will need to raise taxes substantially as a % of GDP...
June 22, 2010 | EconLog

More on Supply-Side Economics

What I meant was that tax revenues were lower than otherwise, that is, lower than they would have been...
June 17, 2010 | EconLog

Bruce Bartlett on Debt Default

On the prospect of U.S. government default on its debt, Bruce Bartlett writes, after mentioning John Tamny...
June 4, 2010 | EconLog

Social Security and Kids

[I]f one's goal is to reduce distribution, why not take the next logical step: make Social Security non-distributive. How would you do that? End it...

June 1, 2010 | EconLog

M3 Plummeting

The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc. This is from Ambrose Evans-Pritchard in the Telegraph, a British publication...

May 26, 2010 | EconLog

The Actual Civil Rights Act

Over at Marginal Revolution, Alex Tabarrok points out that much of the discussion of the Civil Rights Act is so 20th century...

May 23, 2010 | EconLog

Sumner on World Economic Growth

This morning, Scott Sumner has an excellent post on economic growth and the extent to which it is due to what he calls "neoliberal" reforms...

May 21, 2010 | EconLog

Milton Friedman on Racial Discrimination

Kentucky candidate for U.S. Senate Rand Paul has made waves lately by saying that he would not have supported the part of the 1964 Civil Rights Act that violates private persons' freedom of association...

May 20, 2010 | EconLog

Income Variability

In a post two months ago, I pointed out the important distinction between being high-income and being rich. I gave an example of a friend, and a couple of the commenters suggested that my friend guest blog about his situation...

May 21, 2010 | EconLog

Bartlett on Supply-Side Economics, Continued

Three days ago I posted on part of Bruce Bartlett's excellent chapter, "The Rise and Fall of Supply-Side Economics," in his book, The New American Economy. I promised to get to the fall part...

May 18, 2010 | EconLog

Bruce Bartlett on Supply-Side Economics

Bruce Bartlett's The New American Economy is currently my "Starbuck's book..."

May 17, 2010 | EconLog

The Wall Street Journal's Math

I was wondering when I would first see someone make the error that arises from using the modern usage consistently. I just did...

May 17, 2010 | EconTalk

Finally, Some Good News

This is from Mark Lilla, "The Tea Party Jacobins," in The New York Review of Books. I'm not sure Lilla is right about the cultural trends. But if he is, this is good news indeed...

May 13, 2010 | EconLog

Arizona Collectivism

In a post a few days ago, I pointed out that many people on both sides of the new Arizona immigration law are being collectivists. A particularly flagrant example popped up in Highland Park, Illinois...

May 13, 2010 | EconLog

Why Bryan Caplan's CEA Veto Wouldn't Work

In which the author shows himself to be more Caplanesque than Caplan...

May 10, 2010 | EconLog

Arizona Immigration: Battle of the Collectivists

It's not hard for me to take sides on whether police in Arizona should be able to stop people simply on suspicion that they're in the United States illegally. I think this is one more step on the road to a police state...

May 8, 2010 | EconLog

From the Vault: My 1983 Memo on Population Growth

I came across the following memo that I wrote while a senior economist with President Reagan's Council of Economic Advisers...

May 5, 2010 | EconLog

The Symmetry of Counterfactuals

Bottom line: to argue for anything, there's no avoiding counterfactuals. And it's symmetric...

May 3, 2010 | EconLog

Capitalism: A Confused Story

Last week, I watched Michael Moore's latest movie, Capitalism: A Love Story, with two of my students. I took notes and we stopped at various points to discuss it. Some highlights...

May 2, 2010 | EconLog

Amartya Sen vs. Dan Klein on Adam Smith

Last week the New York Times blog had a post referencing an article on Adam Smith by Amartya Sen. Those of Sen's thoughts that sounded correct were not news and those that sounded like news were ones that I wasn't sure were correct...

April 23, 2010 | EconLog

Tyler Cowen on Prohibition

Tyler Cowen has written an excellent review of Daniel Okrent's new book, Last Call: The Rise and Fall of Prohibition...

April 22, 2010 | EconLog

My Recollections of the 1970s

Bryan's question (When you were actually living through the Seventies, did public policy and the overall health of the economy seem worse than today? The same? Better?) is tough to answer...

April 20, 2010 | EconLog

Reflections on Competing Visions

After my discussion this morning on KQED, I had an "aha" moment....The aha moment was in noticing the difference between my approach, on the one hand, and Michael Krasny's and Sylvia Allegretto's, on the other...

April 18, 2010 | EconLog

Canada's Road to Balanced Budgets

Arnold has commented on Tyler Cowen's post on the steps the Canadian government took in the 1990s to reduce budget deficits and turn them into surpluses. The government did it mainly with reductions in the growth of government spending and secondarily with tax increases.

April 12, 2010 | EconLog

Tyler Cowen's Speech at APEE

I heard a very good speech by Tyler Cowen at the Association for Private Enterprise Education conference in Las Vegas today. It was titled "Why Is It Such a Deep and Long Recession?"

April 8, 2010 | EconLog

What Nudge Really Says

Co-bloggers Arnold and Bryan have posted recently on their view that "libertarian paternalism" would be more attractive if its advocates pushed to replace existing paternalist policies with softer "nudging" paternalist policies. Scott Sumner has said something similar.

April 8, 2010 | EconLog

My Letter to Wall Street Journal

On Monday, I sent a letter to the Wall Street Journal about its editorial, "The Separation of Health and State." Here it is...

April 6, 2010 | EconLog

Presentation in Las Vegas

Next Tuesday, April 13, I'll be making a presentation in Las Vegas at the annual meetings of the Association for Private Enterprise Education (APEE). My topic is "Is the Middle Class Disappearing?" Unusually for me, I actually have the final draft complete a week before presenting.

April 6, 2010 | EconLog

How Much is Government Costing Us?

A few months ago, in the comments on one of Bryan's posts, Bob Murphy asserted that real income per capita would rise by a large double-digit percent within a year or two if the size of the government were scaled back by about 90 percent.

April 4, 2010 | EconLog

Turley on Constitutionality of Obamacare

One of my favorite legal scholars, Jonathan Turley, has weighed in on the constitutionality of the Obama health insurance scheme.

April 1, 2010 | EconLog

Congress Messes Up

Large parts of the Senate bill on health care that went into law were written behind closed doors. And it shows.

March 30, 2010 | EconLog

Biggest Flaw in Labor Theory of Value

On his blog today, Tyler Cowen responds to the question, "What is the biggest flaw in the labor theory of value?". . . .

March 30, 2010 | EconLog

Alan Reynolds on Top Tax Rates

In today's Wall Street Journal, Alan Reynolds has an excellent piece on how much revenue can be expected from the Obama tax rate increases to pay for Obamacare. . . .

March 28, 2010 | EconLog

Response on Means Testing

Bryan writes: I'm a big fan of means-testing the welfare state, but many of my favorite people disagree.

March 26, 2010 | EconLog

Health Care: Finally Some Good News

Ben Stein writes: But among the glorying, there was little or no mention of my former boss, Richard M. Nixon, and this was a monstrous wrong, one of an innumerable number of wrongs directed at Mr. Nixon. . . .

March 27, 2010 | EconLog

Gary Becker Interview

In today's Wall Street Journal, Hoover's Peter Robinson reports on an interview with Gary Becker. . . .

March 25, 2010 | EconLog

Great Moments in Property Rights

"My back yard is empty, but that does not give Netanyahu the right to put up an apartment complex on it." . . .

March 24, 2010 | EconLog

John Dingell's Mask Slips

On March 22, on a radio talk show, Detroit-area Congressman John Dingell stated that it would take a long time to get the regulations together to implement Obamacare because, in his words, "it takes a long time to do the necessary administrative steps that have to be taken to put the legislation together to control the people." . . .

March 23, 2010 | EconLog

Obama's and Kucinich's Conversation

I think Bryan has done an admirable job of explaining how the immediate ban on pricing for pre-existing conditions will cause major adverse selection and will break down health insurance as insurance. . . .

March 19, 2010 | EconLog

Health Insurance: What Krugman Didn't Say

In his pitch for the Obama health care restructuring, Paul Krugman quotes a Reuters story about a young man who was denied benefits for a pre-existing condition even though he didn't have such a condition when he got his health insurance. . . .

March 20, 2010 | EconLog

Walter Block on Capitalism

Walter writes: I readily admit that "capitalism" has a bad press, and its historical use is none too salutary either. . . .

March 17, 2010 | EconLog

Oops. My Mistake

Commenters on my post last night pointed out something I had not been aware of: the special treatment local governments give Bass Pro Shops to set up. . . .

March 16, 2010 | EconLog

I Love Capitalism, Again

Driving home from skiing today--it was a gorgeous day in California, by the way--I saw a Bass Pro Shops in a city called Manteca. . . .

March 15, 2010 | EconLog

The Social Security "Trust Fund"

This is from "Social Security to Start Cashing Uncle Sam's IOUs," by the Associated Press today. . . .

March 12, 2010 | EconLog

Cognitive Dissonance on Vehicle Safety

In this morning's Monterey Herald are two articles from the Associated Press, the first co-authored by Ken Thomas and Natasha Metzler and the second co-authored by Ken Thomas and Natasha Metzler. . . .

March 13, 2010 | EconLog

Does Schooling Create Positive Externalities?

Last night, I was a guest of San Jose State University's economics department on a bus ride through Pebble Beach, complete with drinks and hors d'oeuvres. . . .

March 11, 2010 | EconLog

Confusing Health Care and Health Insurance

President Obama Walks Into His Own Trap. . . .

March 11, 2010 | EconLog

We Smell a Rat

The FDA is getting worse and worse. . . .

March 10, 2010 | EconLog

Taxation of Unemployment Benefits

On the comments yesterday on my post on the effect of unemployment benefits on unemployment, Noah Yetter wrote: You have to pay taxes on unemployement benefits? . . .

March 9, 2010 | EconLog

The Effect of Unemployment Insurance on Unemployment

Last week, I addressed the issue of how much of the current unemployment is due to the many extensions of unemployment benefits. . . .

March 8, 2010 | EconLog

Bryan, in his earlier post today, refers to an excellent quote from Walter Block that I hadn't been aware of.

Bryan, in his earlier post today, refers to an excellent quote from Walter Block that I hadn't been aware of. . . .

March 8, 2010 | EconLog

More on Callahan

Arnold called for a real health care debate between him and Daniel Callahan and quoted from his book. . . .

March 7, 2010 | EconLog

De Rugy on VAT

Veronique de Rugy recently published an excellent article on the perils of a value-added tax (VAT). . . .

March 5, 2010 | EconLog

Unemployment Benefits: How Much Unemployment Do They Cause

Though participants agreed there was considerable slack in resource utilization, their judgments about the degree of slack varied. . . .

March 7, 2010 | EconLog

Sanctions and Game Theory

Jacob Hornberger had an insightful blog post on Friday in which he applied basic game theory to the issue of sanctions. . . .

March 6, 2010 | EconLog

Sloppy Reporting on Greece

The Greek government doesn't plan to cut spending by 4.8 billion Euros. . . .

March 4, 2010 | EconLog

From the Vault: My 1983 Piece on Market for Kidneys

I came across this memorandum I wrote while I was the senior economist for health policy with the Council of Economic Advisers. . . .

March 3, 2010 | EconLog

John Goodman on ObamaCare

John Goodman writes: The two most serious defects of ObamaCare were never discussed at the Health Care Summit or in the President's speech this afternoon. . . .

March 3, 2010 | EconLog

Logic: Denying the Antecedent

My favorite part of the introductory philosophy course I took at the University of Winnipeg was the segment on logic, especially on logical fallacies. . . .

February 26, 2010 | EconLog

LDC Debt

In going through memos I wrote at the Council of Economic Advisers, I came across the following memo that I wrote to Jeff Frankel, who replaced Paul Krugman as the International Finance economist at the CEA. . . .

February 25, 2010 | EconLog

Health Care Summit "Mid-Mortem"

I've been watching the health care summit on C-SPAN and I followed the live blogging on Cato's site done by Arnold Kling and others. . . .

February 26, 2010 | EconLog

Insights on Krugman

The New Yorker carries a long puff piece on Paul Krugman that gives you some insight into the man and his work, especially his New York Times column. . . .

February 24, 2010 | EconLog

CEA on "Reforming Health Care"

The chapter, "Reforming Health Care," in the Economic Report of the President February 2010, is chock full of interesting facts and arguments. . . .

February 23, 2010 | EconLog

Reply to DeLong

Brad DeLong, in a belated comment at the end of my post, writes: So is your argument really that if not for the stimulus package wages would be falling--and falling wages would be inducing employers to hire lots more workers? . . .

February 22, 2010 | EconLog

Ralph Nader and Campaign Finance

At the event I was at on Saturday, Ralph Nader gave an excellent speech. . . .

February 21, 2010 | EconLog

Fun With Ralph Nader

Yesterday, I was at an all-day meeting of "left and right" in Washington to see if we could put together a coalition against the various wars that the U.S. is in but not in. . . .

February 18, 2010 | EconLog

Cross-Country Musings

I'm a congenital optimist. . . .

February 17, 2010 | EconLog

Raise the Age

Whenever I've talked to college audiences over the last 10 years, I've told them that the biggest domestic political issue for the whole rest of their adult lives is likely to be spending on Medicare, Medicaid, and Social Security. . . .

February 14, 2010 | EconLog

Buy Local

My friend Ted Levy sent me the following story: I'm walking through a local Phoenix mall and pass a kiosk for Rosetta Stone, the language-learning software. . . .

February 15, 2010 | EconTalk

Budgetary Implications of Defense: Bleg

On the KQED interview I did on the federal budget, I made the following statement: I'm actually an advocate of having the defense budget be the defense budget, not the offense budget. . . .

February 13, 2010 | EconLog

Are Conspiracies Always Implausible?

Bryan, in posting on Arnold's view of what Ben Bernanke is doing, wrote: Arnold's story fits the facts, but it just seems too conspiratorial. . . .

February 14, 2010 | EconLog

Tom Sowell's Latest Book

My Hoover colleague, Thomas Sowell, has come out with yet another book. Titled Intellectuals and Society, it has been sitting on my pile for about two weeks. . . .

February 11, 2010 | EconLog

Response to Tom West

On Wednesday, Tom West asked: Let me ask you again, David. Are they any non-fraudulent contracts between capable parties that you believe *should* be disallowed by law? . . .

February 10, 2010 | EconLog

Unintended Consequences, Chapter 4387

The maximum hours question returned to the United States Supreme Court three years later in Muller v. Oregon with this twist--Oregon's maximum hour statute applied only to women. . . .

February 9, 2010 | EconLog

From the Vault: Cuban Immigrants, 1994

In going through some articles this weekend, I found the following, reprinted in full. It's titled, "Cubans Want Freedom, Not Welfare" and was published in the St. Louis Post-Dispatch, September 30, 1994. . . .

February 8, 2010 | EconLog

Adverse Selection on Purpose

In a post a few weeks ago, I stated that I had coined a term in 1994 to describe the effects of a ban on pre-existing conditions clauses in health insurance: adverse selection by law. . . .

February 5, 2010 | EconLog

Problems with Means Testing

While I do think that future budget deficits will push us towards some version of means testing, I can't agree that it's awesome. . . .

February 6, 2010 | EconLog

Survey on the FDA

I just finished filling out my survey on my views of the Food and Drug Administration's monopoly on approvals of drugs and medical devices. . . .

February 4, 2010 | EconLog

DeLong on Horwitz on Bastiat

A few days ago, Steven Horwitz wrote the following: Even with those flaws, the Administration's accounting is still one-sided. . . .

February 3, 2010 | EconLog

Bravo for Scott Sumner

Co-blogger Bryan posted on one part of Scott Sumner's recent post on non-blog blogging. . . .

February 1, 2010 | EconLog

McChesney on Government Pensions

This is from Northwestern University law professor Fred McChesney's Econlib article, "Government Pensions: Such a Deal," posted today. . . .

February 1, 2010 | EconLog

Best Paragraph of the Day

This is from Aram Bakshian's review in today's Wall Street Journal of Andrew Young's The Politician, the just-released book about former Senator John Edwards. . . .

January 29, 2010 | EconLog

Bhagwati vs. Blinder

My review of Jagdish Bhagwati and Alan S. Blinder, Offshoring of American Jobs, appears in the latest issue of Regulation. . . .

January 28, 2010 | EconLog

Art Carden on SOTU

Over at the "Division of Labor" blog, Art Carden has a great post on President Obama's State of the Union address. . . .

January 26, 2010 | EconLog

Gunnar Myrdal on Minimum Wages

The economist who laid out most clearly the devastating effect of the minimum wage on black labor was Swedish economist Gunnar Myrdal in his classic 1483-page study, An American Dilemma: The Negro Problem and Modern Democracy, Volume 1, 1944. . . .

January 25, 2010 | EconLog

O'Grady on Haiti

Apparently-serious people are suggesting that Bill Clinton be made the aid czar. . . .

January 24, 2010 | EconLog

60 Minutes "Gets" Minimum Wage, Kind Of

It's hard to tell whether Pelley gets the irony of the U.S. Congress "helping" Samoa by destroying its tuna industry. . . .

January 22, 2010 | EconLog

Adverse Selection by Law

Finally, Krugman admits the problem with a ban on pre-existing conditions clauses in health insurance. . . .

January 23, 2010 | EconLog

Too Small to Succeed?

Indeed, one of the major contributors to bank failures during the Great Depression was the National Banking Act of 1864. . . .

January 21, 2010 | EconLog

Boone Pickens Illustrates Becker's Theory of Discrimination

In his latest TV ad for subsidies for wind-generated power, T. Boone Pickens states words to the effect: Much of our oil is imported from countries that hate us. . . .

January 20, 2010 | EconLog

Let Them In

Jacob Hornberger has an interesting post today comparing Obama and FDR. . . .

January 20, 2010 | EconLog

Huge News Story I Missed in December

Just before Christmas, I read somewhere that Mitch McConnell, the minority leader in the U.S. Senate, had made it easier for Harry Reid to pass the ugly Senate health care bill. . . .

January 20, 2010 | EconLog

McArdle Advocates 376,537.65% Marginal Tax Rate

Here's what Megan McArdle advocated today: eliminate the tax-deductibiity of health insurance benefits for people making more than $150K a year in household income, $100K for singles. . . .

January 15, 2010 | EconLog

Hayek and Central Planning

As I've posted about earlier, to understand why socialism must fail, you need to understand Hayek's argument (which he drew from Ludwig von Mises and elaborated on) that the information that's most valuable is information held in the hands of millions of individual actors. . . .

January 18, 2010 | EconLog

Gifts in Kind vs. Gifts in Money

A standard thing we teach our students is that it's more efficient to give money to people than to give stuff. . . .

January 14, 2010 | EconLog

Go Quietly, Old People

My review of bio-ethicist Daniel Callahan's new book, Taming the Beloved Beast: How Medical Technology Costs Are Destroying Our Health Care System, was posted on-line yesterday. . . .

January 12, 2010 | EconLog

Jonathan Gruber and Me

Jonathan Gruber has gotten some negative press for not revealing that he received substantial payments from the Obama Administration while also writing a Washington Post article favoring Obama's proposed government interventions in medical care. . . .

January 12, 2010 | EconLog

In Praise of Facebook

Over the Christmas holiday, I was talking to a young man I know who works for Facebook. . . .

January 10, 2010 | EconLog

Friedman and Schwartz Speak Truth about Power

One of my favorite parts of Milton Friedman's and Anna J. Schwartz's modern classic, A Monetary History of the United States, 1867-1960, is a lengthy footnote on pp. 463-64. It's their explanation of why they think the reported amount of gold in the United States, prior to FDR's confiscation order, was unrealistically low. . . .

January 9, 2010 | EconLog


My review of Pete Leeson's book, The Invisible Hook, is on the web at Regulation magazine. . . .

January 8, 2010 | EconLog

Rubin on Palin

I'm glad Arnold called our attention to this piece on Palin by Jennifer Rubin. . . .

January 10, 2010 | EconLog

Avatar as a Defense of Property Rights

This is from my defense of Avatar from charges by some free-market critics. . . .

January 7, 2010 | EconLog

From the Vault: My 2006 Piece on Bernanke

We still have enough freedom of speech in this country that someone can present another person's paper, properly identifying it as such. . . .

January 5, 2010 | EconLog

The Economics of Illegal Drugs

A recent article by David Luhnow in the Wall Street Journal, "Saving Mexico," contains a lot of good economic analysis of the market for illegal drugs, as well as a few statements that a completely economically literate writer would not have made. . . .

January 4, 2010 | EconLog

Predictably Irrational or Predictably Rational?

"Perfect rationality" as a statement of human nature, as distinguished from a theoretical device, makes for evolutionary nonsense. . . .

December 16, 2009 | EconLog

Is Blinder Going Off the Reservation?

Co-blogger Arnold focused earlier this morning on part of Alan Blinder's Wall Street Journal article, "The Case for Optimism on the Economy." . . .

December 15, 2009 | EconLog

My WSJ Article on Samuelson

My article on Paul Samuelson's work is in today's (Tuesday's) Wall Street Journal. . . .

December 14, 2009 | EconLog

Wall Street Journal on Health Care

Today's lead unsigned editorial on health care in the Wall Street Journal is one of the best they have run. . . .

December 13, 2009 | EconLog

Borenstein's Biased Reporting

I posted last week on Andrew C. Revkin's and John M. Broder's New York Times news story, to show how clever journalists can bias the reader at every turn. . . .

December 12, 2009 | EconLog

Ayn Rand and the World She Made

I posted briefly on Anne C. Heller's book, Ayn Rand and the World She Made, and have now finished it. . . .

December 11, 2009 | EconLog

The Best Sentence of the Week

Some students and I, in a special readings class, were working our way through some chapters of David Friedman's law and economics book, Law's Order. . . .

December 9, 2009 | EconLog

Murphy on Geo-Engineering

Murphy compares the cost of doing nothing about global warming with the cost of Waxman-Markey and writes: Of the estimates in the eleven studies published since the year 1995, the worst case is a global GDP loss of 1.9 percent. . . .

December 8, 2009 | EconLog

CBS Sixty Minutes: Insider Trading in Sports

Last week, I blasted CBS's show 60 Minutes. . . .

December 7, 2009 | EconLog

NY Times' Non-Reporting Reporting

If you want to see a great example of a purported news story in which the reporters try to bias the story one way, check out today's New York Times story on Climategate. . . .

December 6, 2009 | EconLog

A Glimmer of Hope on Freedom

In some ways, Canada has much less freedom of speech than we have in the United States. . . .

December 5, 2009 | EconLog

Ridiculous Sentence on Economic Policy

Co-blogger Bryan asked for candidates for ridiculous sentences on economic policy. . . .

December 5, 2009 | EconLog

Dean Baker Nails It on Immigration

In a Washington Post story today, reporter Philip Rucker bemoans the fact that the expansion of demand for medical care that would follow from the passage of Congress's health care bill would butt up against a restricted supply of doctors. . . .

December 2, 2009 | EconLog

Fortune Encyclopedia of Economics in Alexandria

The predecessor to The Concise Encyclopedia of Economics was The Fortune Encyclopedia of Economics. . . .

December 1, 2009 | EconLog

Ayn Rand Discovers Public Choice

This is from Ayn Rand and the World She Made, by Anne C. Heller. . . .

November 30, 2009 | EconLog

CBS's Propaganda on Gold

In the lead segment of "60 Minutes" last night, CBS did the unusual: it presented an incoherent story. . . .

November 25, 2009 | EconLog

Price Discrimination: Illegal or Not?

In his excellent post on price discrimination and how pervasive it seems to be, Arnold states: The manufacturer would like to charge $400 to JS and $200 to BZ. However, to do so blatantly would be illegal. . . .

November 28, 2009 | EconLog

Bob Murphy on EMH

Ever since I was an assistant professor at the University of Rochester's B-school (now called the Simon School) in the late 1970s, I have believed in the Efficient Markets Hypothesis. . . .

November 26, 2009 | EconLog

Accountability and the Web

Musician Dave Carroll recently posted a video on YouTube after United Airlines refused to take responsibility for one of its employees' having wrecked his Taylor guitar. . . .

November 24, 2009 | EconLog

SuperFreakonomics, III

This is my third post (see the first two here and here) on Levitt and Dubner's SuperFreakonomics. . . .

November 23, 2009 | EconLog

UC Tuition: The Revolt of the Will-Haves

Taxpayer funding of higher education is a forced transfer to the relatively wealthy. . . .

November 22, 2009 | EconLog

The Right Minimum Wage Question

Like Bryan, I received the same request from the same friend: what question(s) would I want to put on a survey of economists. . . .

November 18, 2009 | EconLog

International Trade Economists are Bayesians

In Bryan's excellent recent post on why most economists aren't Bayesians, he writes that the position of economic theorists is: If no one has proven that Comparative Advantage still holds with imperfect competition, transportation costs, and indivisibilities, only an ignoramus would jump the gun and recommend free trade in a world with these characteristics. . . .

November 14, 2009 | EconLog

FDA May Decide to Raise Transactions Costs

The headline in the New York Times is, "F.D.A. Says It May Ban Alcoholic Drinks With Caffeine." . . . .

November 13, 2009 | EconLog

Did Oil Price Increases Contribute Much to Stagflation?

One of the standard claims made about the 1970s is that a major contributor to inflation and low growth was OPEC. . . .

November 11, 2009 | EconLog

Maine's Pelosi/Baucus Care

An excellent news story in today's New York Times highlights the problems with government regulation of health insurance in Maine, problems that, the reporter notes, would likely occur if the U.S. Senate's and the U.S. House of Representatives' versions of health insurance "reform" were implemented. . . .

November 9, 2009 | EconLog

Israel's Nasty Minimum Wage

This is from a recent story in the Israeli newspaper Haaretz. . . .

November 9, 2009 | EconLog

Mises in the Wall Street Journal

Mark Spitznagel has a piece in the Wall Street Journal on Ludwig von Mises' classic book, The Theory of Money and Credit. . . .

November 8, 2009 | EconLog

Stiglitz and Orszags on Fannie Mae

Calomiris points out that Joe Stiglitz, Jonathan Orszag, and Peter Orszag were hired by Fannie Mae to write a paper in 2002 defending the claim that the odds of Fannie Mae ever getting into financial trouble were extremely low. . . .

November 5, 2009 | EconLog

Government Protects People from Preying Contractors

The Broward Sherriff's Office is engaging in entrapment operations to catch unlicensed contractors. . . .

November 4, 2009 | EconLog

Armen Alchian

In this month's Featured Article, Fred McChesney pays tribute to the work of Armen Alchian and makes the case that he deserves the Nobel prize in economics...

November 4, 2009 | EconLog


In fighting Measure J, the measure on the Pacific Grove ballot that went down to defeat last night, I optimized...

October 30, 2009 | EconLog

Do They Care?

While many people dismiss insights from public choice, what's striking is its casual acceptance in conversation and discussion...

October 29, 2009 | EconLog

Politics for Kids

A few weeks ago, Carl Mounteer, a local lawyer, and I were invited to present our views on a local tax issue to the Monterey County Weekly, the local left-wing weekly...

October 26, 2009 | EconLog


The congressional leadership has been very vocal lately about the need for competition in health insurance...

October 23, 2009 | EconLog

Anderson on Enron

One of the views I had accepted uncritically is that all of the people at Enron charged with crimes really were guilty...

October 23, 2009 | EconLog

SuperFreakonomics, II

As I work my way through SuperFreakonomics, I'm starting to take back my claim that it's better than Freakonomics...

October 25, 2009 | EconLog

Tyler’s Triple on Health Care

Hey, it’s baseball playoff time and the article is in the New York Times and so of course I'm going to use a baseball metaphor...

October 20, 2009 | EconLog

Super Freakonomics

I'm only 27 pages into Levitt's and Dubner's new book, but already I'm liking Super Freakonomics better than Freakonomics...

October 18, 2009 | EconLog

Obama's CEA on Adverse Selection

Back in July, Bryan had an excellent post on adverse selection, pointing out that the textbook idea that adverse selection is an important problem in insurance is simply wrong...

October 17, 2009 | EconLog

Mad About Trade, II

Further highlights from Daniel Griswold's new book, Mad About Trade, which I first blogged about here...

October 18, 2009 | EconLog

Great Moments in Health Economics

From President Obama's Council of Economic Advisers, "The Economic Case for Health Reform," June 2009:...

October 14, 2009 | EconLog

Are Taxes “Passed On”?

In arguing with the recent study done by Price Waterhouse Coopers for the American Health Insurance Plans (AHIP), the White House bloggers say the following:...

October 12, 2009 | EconLog

Take That, Math Geeks

That was the title I gave my Wall Street Journal article on the Nobel prize that appears on line now and will appear in print tomorrow...

October 11, 2009 | EconLog

Britain's Central Planning Death Panels

Hazel Fenton, from East Sussex, is alive nine months after medics ruled she had only days to live, withdrew her antibiotics and denied her artificial feeding...

October 11, 2009 | EconLog

Free Market M.D.

The doctor then takes a history and physical, spending about 30 minutes with me, for which the flat fee is $50...

October 11, 2009 | EconLog

Economies of Scale in Compliance

This morning, after a highly-productive Liberty Fund seminar in Santa Fe, I went over to Pasquale's for breakfast. I sat with a woman who runs a Mexican restaurant in a small town in Colorado...

October 7, 2009 | EconLog

What Leonhardt Leaves Out

In a positive article, almost a puff piece, on Bruce Bartlett, New York Times reporter David Leonhardt highlights Bruce's advocacy of a value-added tax for the United States...

October 6, 2009 | EconLog

Economic Therapy

As events have unfolded during the past year and a half, a growing number of people have asked me what I think of the economy...

October 5, 2009 | EconLog


Not everyone, however, is convinced that preparing for a 17-day sports event is the best way to undertake socially responsible urban planning...

October 5, 2009 | EconLog

The Real Meaning of Privilege

Once we start using the word "privilege" where what we really mean is "wealth," we start applying this term to those who came by their wealth without special privilege-the Bill Gateses of the world, sure, but also the more-common successful businessmen or professionals who are earning a few million dollars a year down to a few hundred thousand dollars a year and who don't show up on any "richest people" lists...

October 5, 2009 | EconLog

Multiply Scott Sumner

It seems to me that there are two ways of thinking about how monetary policy would react to fiscal stimulus...

October 5, 2009 | EconLog

Ross Douthat’s Strange Supply Curve

In his New York Times column this morning, Ross Douthat considers various ways of reducing income inequality...

October 4, 2009 | EconLog

Mad About Trade

I've been enjoying Daniel Griswold's new book, Mad About Trade...

September 30, 2009 | EconLog

Soviet Shoes

I mentioned in Tuesday's post that one of my favorite passages from Scott Shane's Dismantling Utopia is the passage about shoes...

September 29, 2009 | EconLog

My First Day of Class

I started my Executive MBA economics class today that I teach in front of a camera to 3 remote locations: D.C., Norfolk, and Oceana...

September 25, 2009 | EconLog

Weird Economics at G-20 Summit

From the September 22 Wall Street Journal: Those countries running current account deficits, most notably the U.S., would have to define ways to boost savings...

September 23, 2009 | EconLog

Unintended Consequences of Regulation

From yesterday's Wall Street Journal, two good old-style news stories on the consequences of regulation...

September 24, 2009 | EconLog

Data on Canadian Medical Care

My wife had breast cancer in 1986 and is an active consumer of information about breast cancer...

September 21, 2009 | EconLog

The Feds' Attack on Freedom of Speech

Not the Fed, as in Bernanke, but the Feds, as in the federal government...

September 21, 2009 | EconLog

Competition in Media Works

When I read that President Obama would make the rounds of all the major network news shows except that of Fox News Channel, I was skeptical that any hard information would come out...

September 18, 2009 | EconLog

One More Step toward Fascism

The Wall Street Journal reports the following today: Policies that set the pay for tens of thousands of bank employees nationwide would require approval from the Federal Reserve as part of a far-reaching proposal to rein in risk-taking at financial institutions...

September 19, 2009 | EconLog

Obama's Bait and Switch

In the spring of this year, President Obama argued that one reason for health care reform was to get long-term spending on government health care under control...

September 19, 2009 | EconLog

Should You Pay Off Your Mortgage?

That's a question asked by Louis J. Prues and answered by the Wall Street Journal's Kelly Greene in the weekend Journal...

September 19, 2009 | EconLog

Former President Carter Presents Us With a Teachable Moment

One of the terms most misused in recent years is the charge of ad hominem...

September 16, 2009 | EconLog

Economics of Mandated Health Insurance

Today's Wall Street Journal contains an interesting front-page news story about mandated health insurance, focusing on the case of Massachusetts...

September 14, 2009 | EconLog

Tea and Empathy

I've been following the discussion of the tea parties, intellectuals, etc...

September 11, 2009 | EconLog

The Fed's Hold on Economists

And celebrity is no shield against Fed excommunication...

September 10, 2009 | EconLog

Obama's Contradiction on Health Care: II

Three commenters on my post last night (ed, mark, and Karl Smith) pointed out, correctly, it turns out, that I missed Obama's point...

September 9, 2009 | EconLog

Obama's Baby Step on Free Trade

Finally, I have something positive to say about Obama's economic policy...

September 9, 2009 | EconLog

Friedman vs. Bernanke, II

As noted in my previous post on this, Tyler Cowen and I have converged: we agree that Bernanke's and Friedman's views on the causes of the Great Depression differed and that, although there is some ambiguity, there is no clear evidence that Friedman would have favored the Paulson-Bernanke bailouts...

September 9, 2009 | EconLog

Obama's Contradiction on Health Care

Here are two segments of Obama's speech this evening...

September 7, 2009 | EconLog

Labor Day is Not Union Day

The present recession has increased private-sector unemployment to over ten percent, and feckless attempts by government to ameliorate the recession have greatly expanded government employment...

September 4, 2009 | EconLog

Friedman vs. Bernanke

In the back and forth between Tyler Cowen and me, with a lot of heavy hitters commenting, we have actually made progress...

September 5, 2009 | EconLog

Implicit Marginal Tax Rate Could be 131 Percent

University of Chicago economist Casey Mulligan, in his latest NBER piece, finds greater than 100 percent marginal tax rates across a large swath of the U.S. population...

September 6, 2009 | EconLog

Casey Mulligan on Employment

Casey Mulligan's blog is a gold mine...

September 3, 2009 | EconLog

Capitalism and the Jews

My co-blogger, Arnold Kling, posted yesterday on American Jews and politics...

September 2, 2009 | EconLog

More on Monopoly

My co-blogger, Bryan, posted an excellent piece on the origins of monopoly...

August 31, 2009 | EconLog

Tyler Cowen, Milton Friedman, and Bailouts

In my responses (here and here) to Tyler Cowen's posts (here and here) on whether Milton Friedman would have supported the bailout of banks, I let myself be distracted by Tyler's use of the word "pretend."...

August 30, 2009 | EconLog

Dr. Ouelett on Canada's Medicare

Early this morning (PDT), C-SPAN carried an interesting interview and call-in show with Dr. Ouelett, outgoing president of the Canadian Medical Association...

August 28, 2009 | EconLog

How American Health Care Killed My Father

Not my father: David Goldhill's father...

August 26, 2009 | EconLog

Kennedy and Airline Deregulation

My Hoover colleague, Thomas G. Moore, has a letter on his office wall from Senator Kennedy thanking him for his contributions to transportation deregulation...

August 26, 2009 | EconLog

Caplan's Talk in Sweden

There is more than one way to make economics fun, and I hope that future research will compare and contrast the effectiveness of different approaches...

August 25, 2009 | EconLog

Tyler Cowen on Pretense

On his blog today, Tyler Cowen, who does not usually use harsh language, does use it when referring to libertarians...

August 25, 2009 | EconLog

The Best Question I Heard Yesterday

I sat in on Jeff Hummel's graduate course in Monetary Theory at San Jose State University last night...

August 23, 2009 | EconLog

Why oh Why Can't We Have a Better Press Corps?

Those who read Brad DeLong's blog will recognized his oft-asked question...

August 23, 2009 | EconLog

What Would Coase Say?

Ronald Coase won the Nobel prize for, in part, what has become known as the Coase Theorem...

August 24, 2009 | EconLog

Correction on Corporate Campaign Contributions

How's that title for alliteration?...


April 4, 2014 | John Batchelor Show

David Henderson on the John Batchelor Show (31:21)

January 29, 2014 | NPR

David Henderson on Here and Now (1:18)

In his State of the Union address, President Obama said Washington's job is to reverse income inequality trends. Two economists with opposing views join us.
January 24, 2014 | Special Report with Bret Baier (Fox News)

David Henderson on the Special Report With Bret Baier (1:11)

Watch previous Special Report shows aired on Fox News Channel and exclusive online political coverage.
October 15, 2012 | Opinion Journal (Wall Street Journal)

David Henderson on Opinion Journal Live

June 20, 2012 | CrossTalk (RT - Russia)

Tehran Countdown: Is no progress a failure?

Was there any hope for a better outcome, and what was it based on? How will Iran weather the sanctions? Is there any scenario that could lead the sides to some sort of a deal?...
January 19, 2012 | Stossel (Fox Business)

What is War Good For?

Col. David Hunt and Prof. David Henderson discuss America’s current military campaigns and Ron Paul’s call for limited military involvement around the world...
December 6, 2011 | John Batchelor Show

Victor Davis Hanson and David Henderson on the John Batchelor Show

Guests: Satyajit Das, author; David Drucker, Roll Call; David Henderson, Hoover; Victor Davis Hanson, Hoover...
November 29, 2011 | KGO-TV (San Francisco)

The Economy: ABC7 talks with top economists

There are small signs that the economy is beginning to recover. But are we doing everything we can to help it along? For answers, ABC7 went to some of the top economists in the country...
October 28, 2011 | FOX Business

“Buy American” is Nonsense

Economist David Henderson argues that we should buy the cheapest goods available to free up capital for further spending...
October 25, 2011 | Frank Beckmann Show (WJR)

David Henderson on the Frank Beckmann Show

David Henderson, Research Fellow with the Hoover Institution and Associate Professor of Economics at the Naval Postgraduate School in Monterey California, regarding Obama growing the government at a record shattering pace...
September 2, 2011 | Market Wrap With Moe Ansari

Hiring Standstill Points to Growing Recession Risk

Moe discusses with [David Henderson] about the job report and the economy...
February 19, 2011 | Orange County Register Online

David Henderson on Oil and the Middle East

Alan Bock of the Orange County Register interviews David R. Henderson, a research fellow with the Hoover Institution and an associate professor of economics at the Naval Postgraduate School in Monterey, California...
December 12, 2010 | John Batchelor Show

David Henderson on the John Batchelor Show

Arif Rafiq, Pakistan Policy blog, David Henderson, Hoover, Mark Feldstein, author, Poisoning the Press...
November 22, 2010 | Econ Journal Watch

David Henderson on Economists and the Draft

David Henderson tells the story of how economists had a significant voice in ending conscription in the United States. The podcast summarizes the paper Henderson wrote for EJW, “The Role of Economists in Ending the Draft...”
November 14, 2010 | Terry Gilberg Show (KFYI)

David Henderson on the Terry Gilberg Show

Terry has special guest economist David Henderson to talk about how the new Congress will deal with the economy...
October 22, 2010 | John Batchelor Show

The John Batchelor Show

GUESTS: Leslie Kaufman, NYT; Gina Kolata, NYT; David Henderson, Hoover; Patrick Merrell, NYT...
October 14, 2010 | John Batchelor Show

The John Batchelor Show

GUESTS: Mike Granoff, Better Place Inc.; Khaled Abu Toameh, Jerusalem Post; Bob Zimmerman,; David Henderson, Hoover Institution...
September 16, 2010 | WGN News

Economics professor David Henderson on income tax

Mike McConnell is joined by David Henderson of the Naval Postgraduate School to talk about tax rates and our current economic status...
April 20, 2010 | KQED

Economy on the Rebound?

Is the recession over? If so, what does that mean for those struggling to find work and keep their homes...

February 26, 2010 | Market Wrap With Moe Ansari

Analyzing Todays GDP Data and Existing Home Sales Reports

Should we cut down taxes for small businesses? . . .

February 2, 2010 | NPR

2011 U.S. Budget

President Obama's $3.8 trillion budget for the fiscal year starting October 1st includes cutting spending on federal programs and raising $2 trillion in taxes. . . .

September 15, 2009 | KQED

Lehman Anniversary

One year ago today, the global financial services firm Lehman Brothers filed for bankruptcy...

Other Media

December 1, 2012 | Policy Review

December/January Policy Review Issue

June 20, 2012 | Defining Ideas (Hoover Institution)

A Fiscal History Lesson

Following World War II, government spending cuts led to an incredible economic boom...
March 30, 2012 | Policy Review

Bartlett on Tax Reform

David R. Henderson on The Benefit and the Burden: Tax Reform — Why We Need It and What It Will Take by Bruce Bartlett...
March 27, 2012 | Social Science Research Network

War and Presidential Greatness

In this paper we consider commonalities between highly ranked presidents and compare plausible determinants of greatness according to historians. We find that a strong predictor of greatness is the fraction of American lives lost in war during a president’s tenure...
December 1, 2011 | Policy Review

When Economics Was Young

David R. Henderson on Keynes Hayek: The Clash that Defined Modern Economics by Nicholas Wapshott...
December 1, 2011 | Defining Ideas (Hoover Institution)

Keynes a la Mode

Was the economist truly a “capitalist revolutionary,” as a new book claims...?
October 1, 2011 | Policy Review

The Roaring Thirties

David R. Henderson on A Great Leap Forward: 1930s Depression and U.S. Economic Growth by Alexander J. Field...
July 27, 2011 | Defining Ideas (Hoover Institution)

The FDA’s War on Drugs

When it comes to off-label uses, government policy is harming sick people...
June 1, 2011 | Policy Review

The Roots of the 2008 Economic Collapse

David R. Henderson on What Caused the Financial Crisis? by Jeffrey Friedman, ed....
June 1, 2011 | Defining Ideas (Hoover Institution)

Northern Exposure

A prudent Canada shows up debt-ridden America...
May 9, 2011 |

Closing the Door on Innovation: Why One National Curriculum is Bad for America

A Critical Response to the Shanker Institute Manifesto and the U.S. Department of Education’s Initiative to Develop a National Curriculum and National Assessments Based on National Standards...
February 1, 2011 | Policy Review

Home Economics

David R. Henderson on At Home: A Short History of Private Life by Bill Bryson...
December 1, 2010 | Policy Review

Good on Taxes, Bad on Trade

David R. Henderson on Seeds of Destruction by Glenn Hubbard and Peter Navarro...
November 6, 2010 | Mercatus Center

The U.S. Postwar Miracle

October 21, 2010 | National Center for Policy Analysis

Mini-Med Plans

On September 23, 2010, a wide array of provisions from the controversial new Obama health care law went into effect, creating new restrictions on existing health insurance plans and an even bigger set of restrictions on new health plans...
April 27, 2010 | Independent Institute

From “Porous” to “Ruthless” Conscription, 1776–1917

The United States shifted from a relatively porous state military draft in the nation’s early years to a harsh federal draft in 1917. This development had three major causes...

January 11, 2010 |

In Defense of Avatar

Do savages have rights? . . .

July 29, 2009 | KQED

Jobs and the Economy

Recent economic data indicate that the economy may be slowly creeping out of recession...

April 25, 2009 | EconLog

Emmanuel Saez's Medal

Berkeley economist Emmanual Saez has won the 2009 John Bates Clark Medal, awarded bi-annually by the American Economic Association since 1947 to "that American economist under the age of forty who is judged to have made the most significant contribution to economic thought and knowledge."...

March 25, 2009 | EconLog

Taylor Rules

My book review of John Taylor's latest book, Getting Off Track, appeared on yesterday.

November 1, 2008 | Cato Institute

Are We Ailing from Too Much Deregulation?

"Americans May be Losing Faith in Free Markets" reads the title of a July 16 "news analysis" by Los Angeles Times reporter Peter G. Gosselin...

September 25, 2008 | New York Times

Letter: Economists Of The World, Unite!

This just in: To the Speaker of the House of Representatives and the President pro tempore of the Senate:...

June 29, 2008 | Pittsburgh Tribune-Review

Book Reports: Lessons in Economics

Anyone who's ever used a copy of the 1993 "Fortune Encyclopedia of Economics" knows how handy and readable it is...

July 30, 2007 | EconTalk

Henderson on Disagreeable Economists

David Henderson, editor of the Concise Encyclopedia of Economics and a research fellow at Stanford's Hoover Institution, talks with EconTalk host Russ Roberts about when and why economists disagree...

July 21, 2007 | LewRockwell

The Invisible Heart

Are you ready for a novel that appeals to your intellect and your heart at the same time?