An interesting question emerged from some discussion surrounding my last carbon tax post. How big will the tax be? The letter says $40 a ton, but then rising. But how far? And in response to what question? It occurs to me that the two obvious targets lead to radically different answers.

A Stanford study indicates they make poor investment decisions because they’re overly influenced by campaign contributions and political considerations.

Hoover Institution fellow Richard Epstein discusses his Defining Ideas article "The Greatness Of Harold Demsetz."

As is probably well-known by now, John Bogle, the man who started Vanguard Financial, died on Wednesday. He helped save millions of people like me thousands of dollars in fees. His basic insight was that it’s hard to beat the market and so the best idea is to have a broad portfolio of stocks that roughly matches the overall stock market.