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James Ceaser is the Harry F. Byrd Professor of Politics at the University of Virginia, director of the Program for Constitutionalism and Democracy, and was a senior fellow at the Hoover Institution. He is the author of several books on American politics and American political thought, including...
Job-Saving Technologies
This is an age of anxiety about the job-killing effects of automation, with dire headlines warning that the rise of robots will render entire occupational categories obsolete. But this fatalism assumes that we are powerless to harness what we create to improve our lives – and, indeed, our jobs.
Central Banks As Central Planners
Two news items cropped up this week on the general topic of central banks as emergent central planers.: a nice WSJ editorial by James Mackintosh on QE extended to buying corporate debt, and the Fed's proposed rule governing "Macroprudential" countercyclical capital buffers.
John H. Cochrane For President
"John H. Cochrane for President" is my "call" after reading his article in last week's Wall Street Journal. Mr. Cochrane is a senior fellow at Stanford University's Hoover Institution and in my opinion a really smart, and pragmatic, guy.
What To Do About London Housing
James Jirtle, a long-time reader of Marginal Revolution, recently wrote Tyler Cowen and asked his views about what to do about high housing prices in London. Mr. Jirtle listed 11 proposed responses and asked which Tyler thinks "are likely to be effective."
A World Cup In The Battle Of Ideas
Markus Brunnermeier, Harald James and Jean-Pierre Landau have just published a fascinating book, The Euro and the Battle of Ideas, in which they bring together their respective skills in economic theory, economic history and economic policy to bear on one of the most important macroeconomic problems of our times—the rules versus discretion debate.
Carbon Compromise?
In a remarkable and clear oped "A Conservative Answer to Climate Change" James Baker and George Shultz lay out the case for a carbon tax in place of the complex, cronyist and ineffective regulatory approach to controlling carbon emissions.
Robert Reich: A Carbon Tax Would Give Each Family $2,000 A Year
A group of former Republican administration officials (including James A. Baker, Henry Paulson, George P. Shultz, Marty Feldstein and Greg Mankiw) is proposing a carbon tax that would start at $40 per ton and gradually increase.
Heed Republican Elders’ Carbon-Tax Wisdom
The Climate Leadership Council, including former Secretaries of State James Baker and George P. Shultz, former Treasury head Henry Paulson and leading conservative economists, calls for taxing corporate polluters and sending the proceeds to Americans in the forms of dividends.
Equality, Inc.
LeBron James, worth over $400 million, is now in the “Equality” business. He released his $185 Nike LeBron 16 “Equality Pack” sneakers on MLK Day last month to add to his lucrative collection of sports gear.
All That Glitters Is Not Gold
I wrote a Wall Street Journal Oped on the gold standard, partly in response to last week's Oped by James Grant (whose "PhD standard" is a great quip) and Greg Yp's excellent column on Judy Shelton and gold.
Why Is John Cochrane Nodding To A Gold Bug?
John Cochrane gave a preview of a WSJ oped he wrote in response to something from James Grant. Permit me to be brief about the utter nonsense from Grant before noting the more worthwhile discussion from Cochrane:
Liberty City
Dekornfeld: But nothing would prepare him [James Massey] for what he would find in Von Ormy because all those classes were about building city government. And in Von Ormy, the sole goal seemed to be the opposite.
The Public Choice Problems With Carbon Taxes
Adrian College political science professor James Hanley, responding to this editorial in the Washington Post, wrote the following on Facebook and gave me permission to use it as a post.
Fabio Rojas's Weak Argument For Subsidizing Illegal Aliens
Somehow I missed Indiana University sociology professor Fabio Rojas’s April article titled “Conservative Arguments in Support of Undocumented College Students,” published by the James G. Martin Center for Academic Renewal. It appeared on April 19. I won’t comment on whether his arguments are conservative; I don’t care. The problem is that they’re not good arguments.
Lester Grinspoon RIP
On Thursday, June 25, Lester Grinspoon, M.D. died, one day after his 92nd birthday. This afternoon, I looked at my markups of two of his books, Marihuana Reconsidered, 2nd ed. 1977 and Cocaine: A Drug and Its Social Evolution, co-authored with James B. Bakalar.
What's The Moral Case For Capitalism?
Economist James Pethokoukis at the American Enterprise Institute writes: But it may not be enough to point out liberal democratic capitalism and creative destruction create a wealthier, healthier, and more interesting society. I mean, that should be enough.
Energy Efficiency: Still Low-hanging Fruit
There are still plenty of ways we can use energy more efficiently. Simple changes would produce large effects.
Charles Barkley Articulates The Benefit Principle
There are various versions of the benefit principle of taxation. One is the James Buchanan/Knut Wicksell version, which says that to get unanimous agreement for a government expenditure, you need to have people pay an amount in taxes that is less than the benefit they perceive.
Parallels Between Present-Day Iran and Nazi Germany
“History doesn’t repeat itself,” said Mark Twain, “but it does rhyme...”