Relevant and even prescient commentary on news, politics and the economy.

Beachfront property and sunk costs

While we were grad students at UNC-Chapel Hill, we visited my wife’s uncle and his family on the Outer Banks. He built fishing boats, and lhey lived in a modest house in Buxton, near Hatteras lighthouse. Hatteras lighthouse is the tallest lighthouse in the US. In 1999, Hatteras lighthouse was moved from its original location […]

The totally predictable economics of climate change

Back when we were grad students at UNC-Chapel Hill from 1977-82, my wife and I made several trips to the Outer Banks. One reason was to visit her uncle and his family, who lived in Buxton, just north of Hatteras lighthouse. What struck me then was how many people lived in homes on the coast […]