David R. Henderson

Research Fellow
Biography: 

David R. Henderson is a research fellow with the Hoover Institution. He is also a professor of economics at the Naval Postgraduate School in Monterey, California.

Henderson's writing focuses on public policy. His specialty is in making economic issues and analyses clear and interesting to general audiences. Two themes emerge from his writing: (1) that the unintended consequences of government regulation and spending are usually worse than the problems they are supposed to solve and (2) that freedom and free markets work to solve people's problems.

David Henderson is the editor of The Concise Encyclopedia of Economics (Warner Books, 2007), a book that communicates to a general audience what and how economists think. The Wall Street Journal commented, "His brainchild is a tribute to the power of the short, declarative sentence." The encyclopedia went through three printings and was translated into Spanish and Portuguese. It is now online at the Library of Economics and Liberty. He coauthored Making Great Decisions in Business and Life (2006). Henderson's book, The Joy of Freedom: An Economist's Odyssey (Financial Times Prentice Hall, 2001), has been translated into Russian. Henderson also writes frequently for the Wall Street Journal and Fortune and, from 1997 to 2000, was a monthly columnist with Red Herring, an information technology magazine. He currently serves as an adviser to LifeSharers, a nonprofit network of organ and tissue donors.

Henderson has been on the faculty of the Naval Postgraduate School since 1984 and a research fellow with Hoover since 1990. He was the John M. Olin Visiting Professor with the Center for the Study of American Business at Washington University in St. Louis in 1994; a senior economist for energy and health policy with the President's Council of Economic Advisers from 1982 to 1984; a visiting professor at the University of Santa Clara from 1980 to 1981; a senior policy analyst with the Cato Institute from 1979 to 1980; and an assistant professor at the University of Rochester's Graduate School of Management from 1975 to 1979.

In 1997, he received the Rear Admiral John Jay Schieffelin Award for excellence in teaching from the Naval Postgraduate School. In 1984, he won the Mencken Award for best investigative journalism article for his Fortune article "The Myth of MITI."

Henderson has written for the New York Times, Barron's, Fortune, the Los Angeles Times, the Chicago Tribune, Public Interest, the Christian Science Monitor, National Review, the New York Daily News, the Dallas Morning News, and Reason. He has also written scholarly articles for the Journal of Policy Analysis and Management, the Journal of Monetary Economics, Cato Journal, Regulation, Contemporary Policy Issues, and Energy Journal.

Henderson has spoken before a wide variety of audiences, including the American Farm Bureau Federation, the Chicago Council on Foreign Relations, the St. Louis Discussion Club, the Commonwealth Club of California (National Defense and Business Economics Section), the Cato Institute, and the Heritage Foundation. He has also spoken to economists and general audiences at many universities around the country, including Carnegie-Mellon, Brown, the University of California, Berkeley, the University of California, Davis, the University of Rochester, the University of Chicago, Harvard University's John F. Kennedy School, and the Hoover Institution. He has given papers at annual conferences held by the American Economics Association, the Western Economics Association, and the Association of Public Policy and Management. He has testified before the House Ways and Means Committee, the Senate Armed Services Committee, and the Senate Committee on Labor and Human Resources. He has also appeared on the O'Reilly Factor (Fox News), C-SPAN, CNN, the Newshour with Jim Lehrer, CNBC Squawk Box, MSNBC, BBC, CBC, the Fox News Channel, RT, and regional talk shows.

Born and raised in Canada, Henderson earned his bachelor of science degree in mathematics from the University of Winnipeg in 1970 and his Ph.D. in economics from the University of California, Los Angeles, in 1976.

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Recent Commentary

Poverty in the US
Analysis and Commentary

Spot the Problem

by David R. Hendersonvia EconLog
Thursday, September 25, 2014

In a July post, Matt Bruenig estimates that in the absence of government programs to alleviate poverty, the percent of Americans who would be officially classified as poor would be a whopping 23.8% versus what it actually is: 15%.

Analysis and Commentary

Richard McKenzie on Foreign Export Subsidies

by David R. Hendersonvia EconLog
Wednesday, September 24, 2014

This is a quote from Richard McKenzie, Competing Visions: The Political Conflict over America's Economic Future​, 1985.

Abstract for values and virtues
Analysis and Commentary

Zeke Emmanuel on Optimal Life Expectancy

by David R. Hendersonvia EconLog
Tuesday, September 23, 2014

Like Arnold Kling, I found some of the information in Ezekiel Emanuel's article on aging troubling. But also, like health policy analyst Greg Scandlen, I found Ezekiel Emanuel troubling. I first saw reference to his article in a Tyler Cowen post and read the whole thing through. It shifted my prior.

Pills
Analysis and Commentary

Unintended Consequences of De-Insuring Insurance

by David R. Hendersonvia EconLog
Monday, September 22, 2014

Over at Mother Jones, Kevin Drum has noticed that some health insurers are charging a huge co-insurance rate for HIV drugs. He writes:

an image
Analysis and Commentary

Response to Krugman on My Canada Study

by David R. Hendersonvia EconLog
Sunday, September 21, 2014

"I think this qualifies as a cockroach idea (zombies just keep shambling along, whereas sometimes you think you've gotten rid of cockroaches, but they keep coming back.) I thought we had disposed of all this four years ago. But nooooo."

Analysis and Commentary

Start!

by David R. Hendersonvia EconLog
Thursday, September 18, 2014

Over at marginalrevolution.com, Tyler Cowen has posted some excellent rules for managing your time. I won't repeat them here--they're short enough--but I want to add an important one, comment on a few, and add a final one.

Analysis and Commentary

Scotland, Quebec, and Tupy

by David R. Hendersonvia EconLog
Thursday, September 18, 2014

Scotland's greater statism and, ironically for the birth place of Adam Smith, suspicion of capitalism, is a potent obstacle to reform in England and Wales. It is also a serious danger to economic prosperity north of the border.

Oil Drilling
Analysis and Commentary

My 1984 CEA Memo on Alaskan Oil Exports

by David R. Hendersonvia EconLog
Wednesday, September 17, 2014

Earlier this week, I posted a 1983 memo that I wrote to my boss at the Council of Economic Advisers, Martin Feldstein, about a meeting to discuss relaxing the limits on exports of Alaskan oil. Below is a follow-up memo on the same issue, written a few months later to Bill Niskanen at the Council. Everything in square brackets is added by me now to explain things that otherwise might not be clear.

Retirement
Analysis and Commentary

Vanguard's Strange Assumption

by David R. Hendersonvia EconLog
Tuesday, September 16, 2014

I'm a big fan of Vanguard. All of my IRA-type assets are in Vanguard funds. And when I mistakenly claimed in a Wall Street Journal that John (Jack) Bogle, who started Vanguard, had learned from work by Eugene Fama, Bogle was very nice in the way he corrected me and then, when I acknowledged my mistake, wrote the following nice letter to me:

Analysis and Commentary

My 1983 CEA Memo on the Ban on Alaskan Oil Exports

by David R. Hendersonvia EconLog
Monday, September 15, 2014

Last week, I posted here and here about Larry Summers's excellent talk in which he advocated removing the ban on U.S. oil exports. I then remembered that when I was the Senior Economist for Energy Policy with President Reagan's Council of Economic Advisers, I had written a memo on the issue of relaxing the constraint on exporting Alaskan oil.

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