There’s nothing illegal about taxing tourists renting cars in Arizona to pay for sports complexes in Pima and Maricopa counties, the state Supreme Court ruled today. All seven justices agreed with the state Department of Revenue that it’s legally irrelevant that the majority of the tax is paid by out-of-state visitors. They said that does not make it illegally discriminatory.

I’m not giving anything away in saying that the winner of best picture in last night’s Oscars, Green Book, was about a white driver driving a black musician around the southern United States and that there really was a Green Book, published annually, that told black people where they go in various states (not just in the South) to eat a meal or stay overnight. It sold millions of copies. 

The Taylor Rule is an interest rate forecasting model invented by famed economist John Taylor in 1992 and outlined in his 1993 study, "Discretion Versus Policy Rules in Practice." It suggests how central banks should change interest rates to account for inflation and other economic conditions.

Michael Munger of Duke University talks with EconTalk host Russ Roberts about whether real capitalism is unstable and leads inevitably to crony capitalism. They also discuss ways to prevent the descent into cronyism and speculate on their own blind spots.