Being an economist can be frustrating. Most people do not understand how markets work, and economists spend a good deal of time arguing against bad policy ideas that appeal to non-economists, and for good ideas that do not appeal to common-sense. This can sometimes feel like pushing rocks uphill. Plus it can lead people to […]
Amazing . . . President Trump’s Letter to the Speaker of the House Congresswoman Nancy Pelosi The first clue that much of the six pages of this letter was not written by Mr. Trump is the salutation; “Dear Madam Speaker.” Then it goes through a series of rants. You can catch a version on Politico […]
“I didn’t find half a dozen people,” John Richards (96) said on his website about the past in his search for associates to join him. Mr. Richards started a society after seeing the “same mistakes over and over again” in the usage of the Apostrophe. He had hoped he would find half a dozen people […]
I first met Volcker when I was a junior international economist in Washington in the late 1960s. He was the Treasury Under Secretary for International Economics. I was going to a luncheon at the National Press Club for the Indian Finance Minister. As I got on the elevator, Paul Volcker and John Kenneth Galbraith — […]
by Eric Kramer The Case for Carbon Taxes, Part II: Political Sustainability In a prior post, I argued that carbon taxes are not vulnerable to political subversion by hostile courts and regulators, and that this is an important advantage of carbon taxes over traditional regulation based on mandates, and also an advantage over subsidies. Once […]
Live-blogging the End of the Republic The title of this piece is increasingly my feeling about the times we are living in. Almost everywhere it has been implemented, the Madisonian system has ultimately failed, ending in presidential autocracy. All of the tools are now in place for the US to fail as well. If Trump […]
I looked at this at first, wondered what it depicted, thought it might be a piece of art, and puzzled over it a bit. It is a topographical depiction (Lidar) of the Mississippi River. If you look closely, you can see roads and various plots of land in addition to the movement of the river […]
Chaos Theory And Global Climate Change I am currently attending the Southern Economic Association meetings in Fort Lauderdale, where the street facing the hotel was underwater during the most recent hurricane to pass through. Anyway, I saw a talk today that took me back to when I first learned about chaos theory, actuallly in the […]
The End Of Decades Having Identities In The USA? We are closing on the centennial of the beginning of decades having identities in the USA, the “Roaring 20s” of the 20th century. It may be that this centennial will clearly mark the end of this odd phenomenon that we had been used to, but which […]
What quid did the president quo and when did he quo it? Aside from the headline news about a July 26 phone call, I learned four big things from the impeachment inquiry hearing this morning. First, the specific corruption surrounding Burisma Holidings had to do with self dealing by company founder Mykola Vladislavovich Zlochevsky — […]