Category Archives: Assorted Links

Assorted Links (3/16/2011)

Here’s a list of articles that I have been reading lately:

The New Humanism

query.nytimes.com

“We have a prevailing view in our society — not only in the policy world, but in many spheres — that we are divided creatures. Reason, which is trustworthy, is separate from the emotions, which are suspect. Society progresses to the extent that reason can suppress the passions.”


A Red Dixiecrat Dawn?


blogs.the-american-interest.com


“The controversy over the blue social model keeps heating up.  With the controversy over Wisconsin’s restrictions on public employee unions metastasizing from the Madison protests to what increasingly looks like a national political battle, the blue state and red state models of social development and economic governance seem to be at daggers drawn.”


Japan and the Broken Window Fallacy


online.wsj.com


“In The Wall Street Journal, George Melloan writes that, as the French economist Frederic Bastiat once observed, reconstruction activity yields no net gain in a society’s wealth.”


Why North Dakota Is Booming


online.wsj.com


“In The Wall Street Journal, Joel Kotkin notes that North Dakota’s energy-based economy is one of the healthiest in the nation, with 3.8% unemployment.”


In Japan, the public bears most of the risk of earthquakes


www.iii.org


“The devastation unfolding in Japan will likely generate the largest insured losses for any earthquake, but by far the biggest part of the tab will fall on the Japanese people.”


Book Review: Peddling Protectionism


online.wsj.com


“James Grant reviews Douglas A. Irwin’s Peddling Protectionism: Smoot-Hawley and the Great Depression.”


Notable & Quotable


online.wsj.com


“Juan Williams on the latest scandal at NPR, his former employer.”


Review & Outlook: President Warren’s Empire


online.wsj.com


“The Wall Street Journal says the consumer finance czar answers to no one and sets her own budget.”


The Future of Nukes, and of Japan

online.wsj.com

“In The Wall Street Journal, Business World columnist Holman Jenkins wonders if the world will abandon nuclear energy, the only feasible alternative to fossil fuels.”

Make the Bush Tax Cuts Permanent

online.wsj.com

“…this year the House Republican majority should pass a permanent extension of the Bush tax cuts. Even that is just a beginning. To touch off a boom—and secure a prosperous future for all Americans—what’s really needed are additional, sweeping rate cuts on both individual and corporate income.”

Fukushima a triumph for nuke power: Build more reactors now!

www.theregister.co.uk

“Japan’s nuclear powerplants have performed magnificently in the face of a disaster hugely greater than they were designed to withstand, remaining entirely safe throughout and sustaining only minor damage. The unfolding Fukushima story has enormously strengthened the case for advanced nation – including Japan – to build more nuclear powerplants, in the knowledge that no imaginable disaster can result in serious problems.”

Derivatives, as Accused by Buffett

dealbook.nytimes.com

“Warren Buffett’s comments to the Financial Crisis Inquiry Commission have been whizzing around e-mail inboxes.”

The Ike Phase

www.nytimes.com

“At a time when urgent action calls, President Obama is choosing prudence. Is this wisdom or passivity?”

Japan Does Not Face Another Chernobyl

online.wsj.com

“In The Wall Street Journal, William Tucker says that the containment structures of Japan’s nuclear reactors appear to be working, and that the latest reactor designs aren’t vulnerable to the coolant problem at issue in Japan.”

Review & Outlook: Nuclear Overreactions

online.wsj.com

“The Wall Street Journal says one lesson of Japan’s earhtquake and nuclear reactor crisis is that modern life requires learning from disasters, not fleeing all risk.”

David Brooks: The social animal | Video on TED.com

www.ted.com

“Tapping into the findings of his latest book, NYTimes columnist David Brooks unpacks new insights into human nature from the cognitive sciences — insights with massive implications for economics and politics as well as our own self-knowledge.”

On the N.C.A.A. Benching of Perry Jones

6thfloor.blogs.nytimes.com

“The way the N.C.A.A. dispenses penalties for rules violations is wildly uneven — and this is where the case of a Baylor basketball player becomes baffling.”

Will It Be One-and-Done for Baylor’s Perry Jones?

www.nytimes.com

“When the most-gifted players, like Baylor’s phenom, stay for only one season, it’s hard not to wonder how much college basketball matters.”

Assorted Links (3/12/2011)

Here’s a list of of articles that I have been reading lately:

Massive earthquake hits Japan

www.boston.com

From boston.com’s “Big Picture” website – a remarkable series of 47 photos of yesterday’s earthquake and tsunami in Japan!

The Weekend Interview with James Q. Wilson: The Man Who Defined Deviancy Up

online.wsj.com

“In The Wall Street Journal, Holman W. Jenkins, Jr. interviews James Q. Wilson about why crime has dropped since he first wrote about ‘broken windows’ in 1982.”

Washington’s Dithering on Libya

online.wsj.com

“In The Wall Street Journal, Eliot Cohen says that if the Gadhafi regime survives, the Obama administration’s response to the crisis could hurt U.S. foreign policy for years to come.”

A European’s Warning to America

online.wsj.com

“In a Wall Street Journal essay adapted from Encounter Books’ Broadside No. 19, Why America Must Not Follow Europe, Daniel Hannan writes that Americans deserve better than the European model that Barack Obama is trying to implement.”

The Modesty Manifesto

www.nytimes.com

“Americans’ tendency toward overconfidence is corroding our citizenship.”

Ready for Unionized Airport Security?

online.wsj.com

“In The Wall Street Journal, Potomac Watch columnist Kimberley Strassel notes how the Obama administration is greasing the wheels for the largest federal union organizing effort in history.”

ObamaCare and the Truth About ‘Cost Shifting’

online.wsj.com

“Economists John Cogan, Glenn Hubbard and Daniel Kessler write in The Wall Street Journal that there’s simply no evidence to support the claim that the insured bear the costs of caring for the uninsured.”

How the market can keep streams flowing

www.ted.com

“With streams and rivers drying up because of over-usage, Rob Harmon has implemented an ingenious market mechanism to bring back the water. Farmers and beer companies find their fates intertwined in the intriguing century-old tale of Prickly Pear Creek.”  Mr. Harmon describes a market-based solution to this environmental problem which represents a very straightforward application of Coase’s Theorem (cf. http://en.wikipedia.org/wiki/Coase_theorem)…

The One That Got Away

online.wsj.com

Former Reagan speechwriter Peggy Noonan disses former defense secretary Donald Rumsfeld’s book entitled “Known and Unknown” (cf. http://amzn.to/e7sG9x). Here’s a quote “It is the great scandal of the wars of the Bush era that the U.S. government failed to get him (bin Laden) and bring him to justice. It is the shame of this book that Don Rumsfeld lacks the brains to see it, or the guts to admit it.”

New York Needs Its Best

online.wsj.com

“In The Wall Street Journal, Michelle Rhee says New York Gov. Andrew Cuomo should back legislation to end the rule that teachers must be laid off in order of seniority.”

Why I’m Fighting in Wisconsin

online.wsj.com

“Wisconsin Gov. Scott Walker writes in The Wall Street Journal that his state can avoid mass teacher layoffs and reward its best performers, but the state legislature has to act now.”

NPR’s Damning Admission

online.wsj.com

“The latest scandal to tarnish NPR’s image.”

Medicaid Is Worse Than No Coverage at All

online.wsj.com

“In The Wall Street Journal, Dr. Scott Gottlieb writes that Medicaid patients often fare worse than those with no insurance at all. So why, he asks, does the president want to shove one in four Americans into the government plan?”

Obama a ‘Radical’? Get Real

online.wsj.com

“In The Wall Street Journal, Michael Medved writes that the president isn’t outside the Democratic Party’s mainstream—and Republicans will find him easier to beat once they realize the problem is that mainstream.”

What Price the Cloud?

online.wsj.com

“In The Wall Street Journal, Business World columnist Holman W. Jenkins, Jr. says that cheap powerful handheld devices tied to high-speed mobile networks will strain the bandwidth capacity of Internet service providers.”

Why the Big Deal About Consumer Spending?

economix.blogs.nytimes.com

“Keynesian assertions notwithstanding, there is no hard evidence that consumer spending is a driver of economic growth, an economist writes.”

The Euro’s Debatable Future

online.wsj.com

“Europe’s leaders convene in Brussels this week to debate the future of the euro. In The Wall Street Journal, four experts—Barry Eichengreen, Martin Feldstein, Pedro Solbes and Steve H. Hanke—weigh in on the common currency.”

EU bans gender-based insurance rates

iii.org

“In most of the United States, men pay more for auto insurance than women do, and with good reason: Men cost more to insure – especially young men.”

Assorted Links (3/7/2011)

Here’s a list of articles that I have been reading lately:

“Necessary” Bank Bailouts Harm the Economy, Wreck the Banks

blogs.forbes.com

John Tamny channels Joseph Schumpeter: “The bank bailouts of 2008 continue to bring the broad economy harm, all the while restraining the ability of the banking system to get back on its feet. This shouldn’t surprise anyone. To put it simply, while business failure of any kind is always painful for investors and employees alike, it’s a happy sign of economic revival for revealing in living color that capitalism is working.”

The Young And the Perceptive

nytimes.com

Interesting essay on how “systematically” important errors often go undetected: “Could teenagers have caught Wall Street’s false notes?”

Do the Math (even if you’re getting a PhD in English)

21stcenturyscholar.org

This article documents, among other things, the persistent (and chronic) oversupply (relative to demand) of PhD’s in fields such as English, History, and Foreign Languages…

Deterrence in the Age of Nuclear Proliferation

online.wsj.com

“In The Wall Street Journal, George P. Shultz, William J. Perry, Henry A. Kissinger and Sam Nunn say the doctrine of mutual assured destruction is obsolete.”

‘Borders on Misrepresentation’

online.wsj.com

“Judge Vinson calls out Justice on its ObamaCare dishonesty.”

The Unhappy Paradox of Santa-Statism

online.wsj.com

As an alternative to Santa-Statism, AEI president Arthur Brooks channels Nobel (economics) laureate Friedrich Hayek: “As regards the economy, the government should provide a minimum basic standard of living for citizens, and address market failures in cases where government action can do so cost effectively.”

The Dictator’s Wife Wears Louboutins

online.wsj.com

“In The Wall Street Journal, Bari Weiss and David Feith write about Vogue magazine’s recent paean to Syria’s first lady, Asma al-Assad. Apparently Anna Wintour missed the trend: Middle Eastern tyrants are out this season.”

The Middle East Uprisings, their Economies, and the World Economy

advancingafreesociety.org

Thoughtful essay by University of Chicago economist and Nobel Laureate Gary Becker: “The revolutions and protests in Tunisia, Egypt, Libya, Bahrain, and other parts of the MENA region (Middle East and North Africa) are the most important world development in the past 20 years, even though it is still highly uncertain about the types of governments that will emerge…”

When halfway isn’t

advancingafreesociety.org

“The negotiations on the continuing resolution (CR) began yesterday. The Administration’s new line, echoed by Congressional Democrats, is that their new offer “comes halfway.””

Costs of the New Government Activism

advancingafreesociety.org

“In “Activism,” a paper soon to be published by the Council on Foreign Relations, Alan Greenspan delves into the consequences of the recent surge of what he describes as “government activism, as represented by the 2009 US$814 billion programme of fiscal stimulus, housing and motor vehicle subsidies and innumerable regulatory interventions.””

George F. Will – Mike Huckabee, Newt Gingrich and the spotlight-chasing candidates of 2012

washingtonpost.com

“When Republicans do not recoil from question-rants, the conservative party is indirectly injured.”

Badgering the Witless

iowahawk.typepad.com

Very interesting followup by “iowahawk” on his previous post entitled “Longhorns 17, Badgers 1“. Among other things, iowahawk references Caroline Hoxby’s 1996 QJE paper “…which statistically controls for additional variables. Her main conclusions: collective bargaining increases the input provided to schools (spending, construction and the like), but actual decreases school output (test scores and the like).”

Assorted Links (3/5/2011)

Here’s a list of articles that I have been reading lately:

The Math Behind Scoring Systems for March Madness Pools – The Numbers Guy

blogs.wsj.com

“A biostatistician proposes a new system for scoring college-basketball prediction contests and other office pools.”

Longhorns vs. Badgers

cafehayek.com

“So are public schools in Texas worse than public schools in more ‘progressive’ states such as Wisconsin – as Paul Krugman, among others, argues? Read this post from Iowahawk and decide for yourself. (HT Steve Pejovich)”

We Don’t Need U.N. Approval to Save Libyan Lives

online.wsj.com

“Why is the Obama administration deferring to an international body that protects brutal dictatorships?”

Review & Outlook: Still Too Big, Still Can’t Fail

online.wsj.com

Interesting article on how the ratings firms rationally condition their credit analyses of large banks like Bank of America, JP Morgan Chase, and Citigroup upon the expectation that “…Washington will open the checkbook again” for these firms when the next financial crisis occurs…

The Weekend Interview with Paul Johnson: Why America Will Stay on Top

online.wsj.com

I first became aware of Mr. Johnson many years ago when I read thought provoking essay entitled “The Heartless Lovers of Humankind” (available on the web at http://bit.ly/eN3qXV). My favorite quote: “…intellectuals profess to love humanity and to be working for its improvement and happiness. But it is the idea of humanity they love, rather than the actual individuals who compose it.”

World’s Top Ten Gaddafi Toads

blogs.the-american-interest.com

“When Muammar Gaddafi, the ‘Commander of Islam’, Africa’s King of Kings and the Great Loon of Libya addressed the United Nations General Assembly at unusual length in 2009, he asked about the hanging of Saddam Hussein. “How is the member of a government and president of a country sentenced to hang?”

Charles Krauthammer – From Baghdad to Benghazi

washingtonpost.com

“Everyone is a convert to George W. Bush’s freedom agenda.”

Public Broadcasting Should Go Private

online.wsj.com

“In The Wall Street Journal, South Carolina Senator Jim DeMint says that if these outfits can afford to pay lavish salaries to their heads, they don’t need taxpayer help.”

Time to Get Serious About American Oil

online.wsj.com

“In The Wall Street Journal, Alaska Governor Sean Parnell asks why Washington is blocking oil exploration in states like Alaska and Louisiana when the Middle East is such a powder keg?”

The Desire for Liberty Is Universal

online.wsj.com

“Michael Novak writes in The Wall Street Journal that a rebellion against a cruel dictator is not the same as a choice for a polity of law and rights. But it’s an important first step.”

Dollar’s Reign as World’s Main Reserve Currency Is Near an End

online.wsj.com

“The U.S. dollar will soon have to share the role of the world’s currency, argues UC Berkeley economist Barry Eichengreen in The Wall Street Journal. He explains why the change is coming—and what it will mean for international markets and companies.”

The Case for the Dollar’s Continued Dominance

online.wsj.com

Here’s a counterpoint to Eichengreen’s article: “The financial crisis and the U.S. government’s troubled long-term fiscal position have triggered speculation about alternatives to the dollar as the world’s reserve currency. But many economists say there’s nothing ready to replace it.”

Gadhafi Makes the U.N. Grade

online.wsj.com

“The Wall Street Journal on the Human Rights Council’s opinion.”

The Minimal Impact of the Stimulus

nytimes.com

“The latest data on gross domestic product shows little benefit from the federal stimulus plan, an economist writes.”

EU Bans Sex-Based Insurance Rates

online.wsj.com

“The European Union’s highest court declared illegal the widespread practice of charging men and women different rates for insurance, roiling the industry and setting in motion an overhaul of how life, auto and health policies are written.”

Should We Invest More In Pre-Schools Or Parents? : Planet Money : NPR

npr.org

“We have too many eggs in the kid basket,” an economist says. “We need to spend much more time and many more resources on helping parents.”

The Massachusetts Health-Reform Mess

online.wsj.com

“In The Wall Street Journal, John E. Calfee notes that the health reform that served as the model for ObamaCare is in serious fiscal trouble.”

George Will can really put a sentence together

cafehayek.com

“The latest EconTalk is George Will talking about his career, the state of America, the state of American politics, baseball, and a few other things along the way. He is a beautiful talker. I particularly liked his thoughts on whether American politics hasn’t gotten any uglier in recent years. Enjoy.”

The Best Economics Papers Ever?

freakonomics.com

“In celebration of its 100-year anniversary, the American Economic Review asked six “eminent economists” (Kenneth J. Arrow, B. Douglas Bernheim, Martin S. Feldstein, Daniel L. McFadden, James M. Poterba, and Robert M. Solow) to select the journal’s top 20 papers ever published.”

 

Assorted Links (2/28/2011)

Here’s a list of article that I have been reading lately:

Who’s Paid More? Experts Can Disagree

www.nytimes.com

“Detailed analyses of whether state workers are overpaid have come down on either side.” Not surprisingly, liberal-leaning think tank studies tend to view state workers as underpaid vis-à-vis private sector workers, whereas conservative-leaning think tanks come up with the opposite conclusion…

How Beneficial is Widespread Medical Screening?

www.advancingafreesociety.org

Excellent essay on this very important topic by economics Nobel laureate Gary Becker!

Unions vs. the Right to Work

online.wsj.com

“In The Wall Street Journal, Harvard economist Robert Barro says that states should consider passing right-to-work laws that will reduce the power of unions. Collective bargaining on a broad scale, he says, is more like an antitrust violation than a civil liberty.”

Break a leg

www.economist.com

“Do you have the claim forms with you? WITH categories like “sound mixing”, “make-up” and “art direction”, this weekend’s Oscars ceremony appears to celebrate almost every aspect of film-making. Insurers, how ever, do not make the red carpet, which may be why Fireman’s Fund has started nominating the year’s “riskiest film”.”

Atlas Shrugged Movie

www.atlasshruggedpart1.com

“Atlas Shrugged The Movie finally makes it to the silver screen 54 years later. Based on Ayn Rand’s epic novel, the Atlas Shrugged Movie comes to a theater near you April 15th.”

Is ‘Shutting Down Government’ A Threat Or A Promise?

blogs.forbes.com

“Perhaps gridlock can accomplish what reason can’t.”

Risky Roadmap to $7 a Gallon Gas

www.huffingtonpost.com

“Some Persian Gulf watchers say more political uprisings, swelling strife throughout the Middle East,mean likely oil supply disruptions, higher crude prices and a bigger bite at the gas pump, perhaps as much as $7 a gallon.”

Indiana Governor Bores In on Federal Debt

online.wsj.com

“Gov. Mitch Daniels rescinded collective-bargaining rights for state employees six years before that became an issue in Wisconsin; now he ponders a G.O.P. presidential run with a stern cut-the-debt message that would usually be politically problematic but might fit the times.”

Go Ahead, America, Leave It to Bieber

online.wsj.com

“From commodity prices to the state-budget crisis, Justin Bieber has wisdom to spare, says Joe Queenan.”

B-Schools: It’s time to globalize

management.fortune.cnn.com

“New research has revealed a sizable gap between what the business world needs and what business schools provide to their students. What’s standing in the way and what can business schools do to step up their game?”

“Information Technology and Economic Change: The Impact of the Printing Press,” J. Dittmar (2011)

afinetheorem.wordpress.com

“Dittmar reexamines the case for economic effects of the printing press by looking at growth in city population – a good proxy for economic growth in the 1500s – in cities that had the press versus those that did not. He finds cities that got the press grew quite a bit faster than those did not.”

The Real Problem with Government Employee Unions

www.american.com

“Although collective bargaining by government employee unions may offend one’s sense of justice, what’s truly unacceptable is government labor’s stranglehold over the local, state, and federal governments with which they bargain.”

Assorted Links (2/25/2011)

Here’s a list of articles that I have been reading lately:

The Internet Helps Us Get Serious

online.wsj.com

“Rhetoric’s renaissance may lead us out of the current crisis, Peggy Noonan argues.”

Charles Krauthammer – Rubicon: A river in Wisconsin

washingtonpost.com

“Gov. Walker is about to show what fiscal seriousness really looks like.”

Race To The Bottom?

blogs.the-american-interest.com

“Is America in a race to the bottom, or are we going through what the Austrian born economist Joseph Schumpeter would call a process of “creative destruction”?”

Wisconsin Democrats Abuse the Quorum Call

advancingafreesociety.org

“Today– George Washington’s Birthday–we are seeing Wisconsin politics at its worst. A state long known for policy innovation—social security, welfare reform, school vouchers, and much more—is now witnessing a seldom-seen but dreadful abuse of basic democratic practice—the abuse of the legislative quorum call.”

Run Mitch, Run

nytimes.com

“For Mitch Daniels, the Republican governor of Indiana, the 2012 moment calls.”

Make Everybody Hurt

nytimes.com

“Debt fighters everywhere, including Wisconsin, must establish a set of practices to help us cut spending effectively now and in the future.”

The Federal Reserve Is Causing Turmoil Abroad

online.wsj.com

“In the Wall Street Journal, George Melloan writes that few protesters in the Middle East connect rising food prices to U.S. monetary policy, but central bankers do.”

The Myth of Corporate Cash Hoarding

online.wsj.com

“In The Wall Street Journal, Alan Reynolds of the Cato Institute writes that companies hire more workers when they have income to pay them—not by liquidating financial assets.”

Apple is dictating all the terms – and we shouldn’t have to accept them

guardian.co.uk

“Computer giant wants more control of media business and a bigger slice of profits.”

Why Nobody Can Match the iPad’s Price

wired.com

“This Wired article discusses the economics of how Apple’s vertical integration and retail strategies enable it to keep the iPad at the $500 price point…”

How the Fed prints money without any ink

finance.fortune.cnn.com

“If the Federal Reserve’s quantitative easing program is printing money, why is the growth of new currency in circulation below average?”

The showdown between public unions and cash

advancingafreesociety.org

“The showdown between public employee unions and cash-strapped state governments on display in Madison should be bad news for President Obama and the Democrats.”

What kind of gun control?

advancingafreesociety.org

Nobel economics laureate Gary Becker provides a very thoughtful and empirically grounded essay on the issue of gun control…

Women Likely to Continue Outpacing Men in Education

blogs.wsj.com

“Young women are outpacing men in educational attainment and there’s little sign males will make up ground any time soon.”

The Weekend Interview with Paul Ryan: Ryan’s Charge Up Entitlement Hill – WSJ.com

online.wsj.com

“In The Wall Street Journal’s Weekend Interview, Paul Gigot interviews Rep. Paul Ryan. The GOP’s fiscal leader explains why House Republicans will vote to reform Medicare and why the public is ready to listen.”

Why The King’s Speech Leaves Me Stuttering

online.wsj.com

“The royals at the center of the Oscar front-runner are simply spiffing, says Joe Queenan, but give him the proles of True Grit and The Fighter any day.”

Where Have the Good Men Gone?

online.wsj.com

“Too many men in their 20s live in a kind of extended adolescence—and women are sick of dealing with them. An excerpt from Manning Up: How the Rise of Women Turned Men Into Boys by Kay S. Hymowitz.”

Two Cheers for the Maligned Slacker Dude

online.wsj.com

“Men in their 20s may be putting off adulthood—but they are still changing the world. Nathan Rabin responds.”

The Intelligent Investor: Why Companies Are Hoarding Cash

online.wsj.com

“Politicians have been carping about the more than $2 trillion in cash sitting idle in corporate coffers. But much of it isn’t in the U.S.; it is abroad. And it isn’t likely to come back home unless U.S. tax laws change.”

Why Does College Cost So Much?

economix.blogs.nytimes.com

“A conversation with Robert B. Archibald and David H. Feldman, economists at the College of William & Mary and the authors of a book on the cost of college.”

Researchers Study the World’s Information Explosion

blogs.wsj.com

“What is information, and how much is there? Researchers are attempting to answer the question, with some very big numbers.”

Power of the Market – The Pencil

youtube.com

“Milton Friedman uses a pencil to explain how the operation of the free market promotes harmony and world peace.”

Assorted Links (2/18/2011)

Here’s a list of articles that I have been reading lately:

Goodbye to All That — 2004-2007

pajamasmedia.com

“In times to come, the period between the failed campaign of John Kerry and the Democratic control of the Congress, coupled with the beginning of the successful surge, should be known as “The Insane Years.” This was the era in which Guantanamo was a gulag, renditions were the stuff of Hollywood movie”

Is Your Job an Endangered Species?

online.wsj.com

“In The Wall Street Journal, Andy Kessler writes that technology is eating jobs—and not just obvious ones like toll takers and phone operators. Lawyers and doctors are at risk as well.”

Review & Outlook: Athens in Mad Town

online.wsj.com

“The Wall Street Journal on the showdown between public unions and taxpayers in Wisconsin.”

Where the Leaders Are

online.wsj.com

“In a time of crisis, two governors show Washington the way, Peggy Noonan writes.”

Charles Krauthammer – Obama’s Louis XV budget

washingtonpost.com

“Obama’s first post-commission budget marks a return to obliviousness.”

The Madison Blues

blogs.the-american-interest.com

“The world has been watching the upheavals and protests shaking the Middle East these days, but it’s just possible that the disturbances in Madison, Wisconsin mark what will ultimately prove to be a bigger turning point in world history.”

Tomorrow Never Comes

nytimes.com

“President Obama keeps promising to get serious about the national debt, but nothing’s happening. Where’s the leadership?”

The President’s proposed deficits and “primary balance”

keithhennessey.com

“Today we’ll look at President Obama’s proposed deficit path, as yesterday we looked at his spending and revenue paths.”

Till Debt Do Us Part

american.com

“The European marriage between its peripheral and core countries shows all the signs of the parties having irreconcilable differences.”

Will Green Nukes Save the World? | Fast Company

fastcompany.com

“Amidst the darkening clamor over global warming, declining fossil fuel reserves, conflicts over oil supplies, and rumors of heavy-handed governmental attempts to curb our carbon-hungry lifestyles, a welcome glow of hope is emerging on the energy technology horizon.”

Your Spousonomics Questions, Answered

freakonomics.blogs.nytimes.com

“Last week, we solicited your questions for Paula Szuchman and Jenny Anderson, co-authors of the new book Spousonomics: Using Economics to Master Love, Marriage, and Dirty Dishes. Here are their answers, covering everything from sex to divorce to … gulp … apology.”

Race to the Top of the Laffer Curve

american.com

“David Leonhardt of the New York Times has it exactly backward: America’s corporate tax rates are driving economic activity abroad.”

The Contradictions of ObamaCare

american.com

“Why does Health and Human Services want to exempt millions of consumers from an ObamaCare regulation it just implemented to protect consumers?”

The long term budget problem begins now

keithhennessey.com

“The dotted red line shows us that, over the past 50 years, federal government spending averaged just over one-fifth of the economy (20.2% of GDP). The dotted blue shows us that, over the past 50 years, federal revenues averaged just over 18% of GDP…”

The Experience Economy

nytimes.com

“What happens when wealth and living standards diverge?”

After Obama’s Budget, Republicans Need a New Strategy

online.wsj.com

“In The Wall Street Journal, David Malpass says the big spenders are setting the GOP up for another phony debt ceiling debate. The party should unify around a proposal to put a ceiling on debt as a share of the economy.”

Ecuador Court Orders Chevron to Pay

online.wsj.com

“Hat tip to my good friend, Tom Butler, for pointing this article out to me. Here are some of his legal perspectives on this case: “What an interesting legal tangle this Chevron Ecuadorian case is. Multinational, competing int’l jurisdictions, The Hague Court, conflicting injunctions, etc… Better than a Grisham novel.”

Budget Battle Lines Drawn

online.wsj.com

“President Barack Obama offered a 2012 budget Monday that would reduce the federal deficit over time but still leave spending at historically high levels because of mushrooming health and retirement programs.”

Understanding the Muslim Brotherhood

online.wsj.com

“In The Wall Street Journal, Global View columnist Bret Stephens reflects on an earlier revolutionary moment—namely, Iran in 1979—in which Western thinkers were too quick to embrace fundamentalist Muslims they little understood.”

Want to Boost the Economy? Lower Corporate Tax Rates

online.wsj.com

“Harvard economist Martin Feldstein writes in The Wall Street Journal that the increased flow of capital to the U.S. from lower corporate taxes would result in greater productivity and higher real wages.”

A Way Forward for the Mortgage Market

online.wsj.com

“In The Wall Street Journal, Peter J. Wallison writes that the housing system can function perfectly well without government backing. The key, he argues, is making sure most mortgages are prime loans.”

ObamaCare and the Medicaid Mess

online.wsj.com

“In The Wall Street Journal, Peter Suderman,an editor at Reason magazine, discusses the severe state budgetary crisis posed by escalating Medicaid costs, and why the crisis will get worse under ObamaCare. He discusses reforms such as federal block grants.”

Review & Outlook: The Cee Lo Green Budget

online.wsj.com

“The Wall Street Journal on the cynical and unrealistic White House budget.”

Investment in financial literacy and saving decisions

voxeu.org

“Previous research has suggested that low levels of financial literacy can often be blamed for poor financial decisions by individuals, with knock-on effects for the wider economy. This column adds empirical evidence based on cross-country aggregate and micro-data, showing that indeed countries with higher financial literacy also have higher saving rates and greater wealth.”

CoCo bonds as a way of preventing risk

voxeu.org

“Contingent Convertible (CoCo) bonds have been suggested as a way to ensure that banks keep aside enough capital to help them through financial crises. This column proposes a market-triggered CoCo buffer to maintain risk incentives during periods of high leverage. It argues that this will also activate risk information discovery through the market prices of bank securities and increase activism by outside shareholders.”

Assorted Links (2/13/2011)

Here’s a list of articles that I have been reading lately:

Understanding economic illiteracy

sunsentinel.com

“”Unicorns don’t exist.” All economic logic follows from this observation. Simple, right? Unfortunately, the poor state of economic understanding among many Americans indicates to me not only that the idea is subtly complex, but also that people do have an affinity for mythical, horned creatures.”

Review & Outlook: Runaway Trains

online.wsj.com

“The Wall Street Journal says President Obama’s high-speed rail plan is a fiscal pipedream.”

Emerging Markets as Partners, not Rivals

nytimes.com

“Achieving economic prosperity is not like winning a game, and guiding an economy is not like managing a sports team.

Geithner’s Exit Plan for Fannie & Freddie

economics21.org

“If we could go back in time, decades ago we would have phased out Fannie Mae and Freddie Mac.”

Iran Bans Valentine’s Day

online.wsj.com

“In The Wall Street Journal, Melik Kaylan writes that the regime’s posture turns the smallest gestures into thrilling acts of subversion.” Hopefully the political freedom contagion which began in Tunisia and just swept through Egypt will continue unabated on its way to Iran!

The Weekend Interview with Charles Plosser: The Fed’s Easy Money Skeptic

online.wsj.com

“In The Wall Street Journal, Mary Anastasia O’Grady interviews Charles Plosser, president of Philadelphia’s Federal Reserve bank, who says that Monetary policy can’t retrain people. Monetary policy can’t fix those problems.”

Harry Reid’s Reagan Revisionism

online.wsj.com

“James Freeman says in The Wall Street Journal’s Political Diary that Democrats unable to dent the enduring popularity of Ronald Reagan are now trying to recast America’s 40th president as one of their own — sometimes with hilarious results.”

Review & Outlook: 800,000 Fewer Workers

online.wsj.com

“The Congressional Budget Office (CBO) director (Douglas Elmendorf) estimated that ObamaCare will cause the labor force to shrink by about half a percentage point by the end of the next decade… (by reducing) “the propensity to work.” As with any other government subsidy, people receiving “free” health care won’t have as much incentive to search for a job or work full time.”

The Obama Administration on Housing Finance

econlog.econlib.org

“The long-awaited report has been released. I will have extended comments below the fold. Overall, I was disappointed to see that the report is heavily waited toward strategy and tactics, without adequate consideration of objectives. Nobody seems to want to step back and ask fundamental questions…”

Is the House on Track to Reverse the Spending Binge?

advancingafreesociety.org

“The goal of the new House leadership is to reverse the spending binge of the past three years. They have already laid out the first step: the House Appropriations Committee has agreed to spending levels for nondefense discretionary spending for fiscal year 2011. However, because the previous Congress did not pass a budget for 2011, the year will be nearly half over before the new budget is passed and this is causing confusion about what the agreed spending levels mean…”

Denial puts U.S. deeper in debt

ajc.com

“The national debt has grown by $3 trillion since President Barack Obama took office, the most rapid growth under any president since FDR’s war-time defense buildup.”

Mubaraks, Mamelukes, Modernizers and Muslims

blogs.the-american-interest.com

“Pharaoh Hosni is out; the Mubarak dynasty is done. This had to happen and, whatever comes next, the downfall of an undemocratic leader well past his sell-by date is a good thing in and of itself. The nation of Egypt is not a personal possession to be handed down like an heirloom from generation to generation.”

Doing God’s Work—At the Office

online.wsj.com

“In The Wall Street Journal’s Houses of Worship column, Rob Moll writes of the increasingly popular view that we are called to be co-creators of a flourishing life on earth.”

Review & Outlook: ‘Pedal Misapplications’

online.wsj.com

“The Wall Street Journal says Ray LaHood recants on Toyota.”

Reaganomics: What We Learned

online.wsj.com

“In The Wall Street Journal, economist Arthur B. Laffer notes that lower tax rates, tighter money and deregulation created a boom that created over 21 million jobs from December 1982 to June 1990.”

The Time for Spending Cuts Is Now

online.wsj.com

“In The Wall Street Journal, Michael J. Boskin writes that the White House is arguing that ‘draconian’ cuts will derail the economy. In fact, cuts are necessary to preserve tax rates that are compatible with economic growth.”

Assorted Links (2/9/2011)

Here’s a list of articles that I have been reading lately:

‘Reagan’s Final Triumph Over His Enemies’

american.com

“Steve Hayward explains what’s behind the newfound respect liberals have for Ronald Reagan.”

Why Small Business Wants Repeal of ObamaCare  

american.com

“The law is unpopular among small business owners because it is not making employee health insurance more affordable.”

Florida Drivers Paying For Auto Fraud

iii.org

“Florida is a hotbed for auto insurance fraud and the problem is growing worse, according to a new study from the Insurance Research Council (IRC).”

Notable & Quotable

online.wsj.com

“Apple CEO Steve Jobs on why dropping out of college was one of the best decisions he ever made.”

The Way Forward in Egypt

online.wsj.com

“In The Wall Street Journal, Global View columnist Bret Stephens writes from the Munich Security Conference that the U.S. risks abruptly ostracizing a regime that may yet hold on to power, while making common cause with an opposition that contains no shortage of U.S. enemies.”

John 3:16 Super Bowl Commercial : LookUp 316

lookup316.com

“John 3:16 – a message of hope. The LookUp 316 Super Bowl commercial aims to encourage people to look up John 3:16 and consider its profound message of hope.”

Doing the Math on a Jobless Recovery  

online.wsj.com

“In The Wall Street Journal, Brad Schiller writes that President Obama has urged us to be patient, but must we wait until 2018 to get back to full employment?”

Health-Care Investment—The Hidden Crisis  

online.wsj.com

“In The Wall Street Journal, Michael Milken says that we need to spend much more on medical research and remove government obstacles and barriers to innovation.”

In Defense of Being a Kid

online.wsj.com

“In The Wall Street Journal, Dartmouth Professor James Bernard Murphy discusses the controversial views of Amy Chua, the “tiger mother.” He says that children should be allowed to enjoy their brief years of innocence and spontaneity while also getting prepared for adulthood.”

“Did France Cause the Great Depression?,” D. Irwin (2010)  

afinetheorem.wordpress.com

This is a nice summary of Dartmouth Professor Douglas Irwin’s paper on the role played by the gold standard in the Great Depression, and in particular how France imposed massive deflation on the rest of the world economy by accumulating large amounts of gold in the years leading up to the Great Depression.  See also the EconTalk podcast entitled “Irwin on the Great Depression and the Gold Standard”.

Nobody Deserves Tenure

educationnext.org

“Nobody deserves tenure, with the possible exception of federal judges. University professors don’t deserve tenure; civil servants don’t deserve tenure; police and firefighters don’t deserve tenure; school teachers don’t deserve tenure.”

How the U.N. Encourages Religious Murder

online.wsj.com

“In The Wall Street Journal, Eric Rassbach and Ashley Samelson McGuire of the Becket Fund for Religious Liberty write that anti-blasphemy laws are barbaric and certainly don’t deserve endorsement at Turtle Bay.”

Review & Outlook: Giving Hamp the Hook

online.wsj.com

“The Wall Street Journal says that Treasury’s mortgage foreclosure relief program is a bust and ought to be terminated.”

An ObamaCare Appeal From the States

online.wsj.com

“Indiana Gov. Mitch Daniels writes in The Wall Street Journal that 21 governors representing more than 115 million Americans have written to Kathleen Sebelius asking for more flexibility on health-care reform.”

A Modest $500 Billion Proposal 

online.wsj.com

“Kentucky Sen. Rand Paul writes in The Wall Street Journal that his proposed spending cuts would keep 85% of government funding and not touch Social Security or Medicare.”

Made in the USA

boston.com

“IN ECONOMICS as in apparel, most fashions come and go. But like the navy blazer or the little black dress, bewailing the decline of American manufacturing never seems to go out of style.”

The 40 Percent Nation

nytimes.com

“What do Egypt’s underlying structures tell us about its future post-Mubarak?”

The Difficulty of Counting Protesters in Cairo

blogs.wsj.com

“How many people are protesting in Egypt? Without detailed, high-resolution aerial photos, the best numbers are educated guesses.”

Ben Bernanke’s ’70s Show

online.wsj.com

“In The Wall Street Journal, Allan H. Meltzer writes that inflation is on the horizon, and now is the time for the Fed to head it off.”

Assorted Links (2/4/2011)

Here’s a list of articles that I have been reading lately:

Ronald Reagan at 100

online.wsj.com

“Being a good man helped him become a great one, Peggy Noonan writes.”

Charles Krauthammer – Toward a soft landing in Egypt

washingtonpost.com

“The military can guide the nation to fair elections, with a little help.”

Robert McFarlane: Three Qualities That Made Reagan Great

online.wsj.com

“Robert McFarlane, former national security adviser to Ronald Reagan, writes in The Wall Street Journal that on Reagan’s 100th birthday, it’s worth recalling the character and leadership essential to presidential success.”

The West Wing, Season II

nymag.com

Charlie Rose and I recommend this New York Magazine article by John Heilemann, who with Mark Halperin recently coauthored a book entitled “Game Change: Obama and the Clintons, McCain and Palin, and the Race of a Lifetime” (cf. http://amzn.to/fFVjvk).

ObamaCare’s Repeal Has Begun

online.wsj.com

“This week’s Senate vote to scrap an IRS reporting requirement is the start of a piece by piece approach.”


Examining the Numbers Behind the Cost of Doing Business in the U.S.


blogs.wsj.com


“A close look at a study finding that regulation costs U.S. business $1.75 billion, with small businesses paying more per employee than big ones.”


Compassion Alone is Insufficient: Mind the Gap Between Intentions and Outcomes


blogs.forbes.com


“Meaning well” and “doing well” aren’t always the same thing.


Economics Saved My Marriage – Newsweek


newsweek.com


From the author of “Spousonomics” (cf. http://amzn.to/gs1lFv)… “

Robert Samuelson misunderstands

cafehayek.com

Excellent essay by George Mason University economist Russ Roberts on the political economy of the financial crisis.

Commercialized Sex and Human Bondage

www.thepublicdiscourse.com

“Most Americans don’t take slavery in America seriously, except as a matter of history. It’s something to recall, not something to witness with our own eyes. But if it ever really disappeared at all, slavery has certainly made a comeback.”

How to Tax the Rich

online.wsj.com

“Try giving them perks and privileges (an extra vote?) in return, says Dilbert creator Scott Adams.”

Fouad Ajami: Rebellion in the Land of the Pharaohs

online.wsj.com

“In The Wall Street Journal, Fouad Ajami of Johns Hopkins University writes that a man who places himself at the helm for three decades inevitably becomes the target of all the realm’s discontents.”

Will Charter Schools Cure America’s Blues?

blogs.the-american-interest.com

“As the blue social model gradually falls apart and American society casts restlessly about for something to replace it, charter schools may be on the cutting edge of the social transformation about to take place.”

Charles Krauthammer – The old Obama in new clothing

washingtonpost.com

“What America wants doesn’t interest Obama or stand a chance of becoming policy.”

A Two-Track Plan to Restore Growth

online.wsj.com

“Stanford economist John B. Taylor writes in The Wall Street Journal that our economic wounds are self-inflicted. Changing fiscal and monetary policies could make a difference fast.”

Can Our Nation Be Saved?

townhall.com 

Walter E. Williams writes: “National debt is over $14 trillion, the federal budget deficit is $1.4 trillion and, depending on whose estimates are used, the unfunded liability or indebtedness of the federal government (mostly in the form of obligations for Social Security, Medicare, Medicaid and prescription drugs) is estimated to be between $60 and $100 trillion.”

Target: ObamaCare

online.wsj.com

“Voters rejected it, writes Pete du Pont. Now Republicans must act.”

What Caused the Financial Crisis?

online.wsj.com

“In The Wall Street Journal, Bill Thomas, Keith Hennessey and Douglas Holtz-Eakin, three dissenting members of the Financial Crisis Inquiry Commission, write that the commission is offering a simplistic narrative that could lead to the wrong policy reforms.”

Obama’s ‘Investment’ Charade

online.wsj.com

“In The Wall Street Journal, Stephen Moore writes that Milton Friedman warned that government spending cancels out higher-return private investment.”