It is well understood that the incidence of defaults on college debt is higher on people with smaller loans outstanding. These are marginally attached students to begin with. Remember that 40% of students who start college do not finish. Yet, contrast this with where the “noise” is coming from on “free college” and the “college loan crisis.” […]
Category Archive for 'Central Planning'
See this gate? … Well, every night trucks stacked with bodies came back here and dumped them in a heap. They’d already been shot in the back of the head – you bleed less that way … They stacked the bodies in old wooden ammunition crates. The workers stoked up the underground ovens – right […]
I am a big fan of harp-guitar players and one of my favorites is Stephen Bennett. Here is one of my favorites from him, entitled Merry Christmas Mr. Gorbachev. It’s a happy sounding song, as it should be. I imagine he wrote it as a reference to the (in)famous Christmas night in 1991 when Soviet […]
Via Coyote without comment.
Today I reprint a slightly edited piece I put together several years ago. I’d change a lot of it, from the content to the tone, if I were to do it over – but one must live with one’s younger self. Happy Thanksgiving to all. Four centuries after the celebration of the first Thanksgiving, there […]
Hamilton in Federalist 68: The process of election affords a moral certainty, that the office of President will never fall to the lot of any man who is not in an eminent degree endowed with the requisite qualifications. Talents for low intrigue, and the little arts of popularity, may alone suffice to elevate a man […]
I’ve spent most of my “academic” time the past two summers studying and writing on the economics of climate change. It has become quite clear to me that were we to line up the honest economic and environmental experts and received their honest assessments about what the worst case scenarios look like, and where the […]
In Nordhaus’s Climate Casino (recommended), in describing the problem when market prices do not fully capture all resource costs: However, the unregulated invisible hand sets the prices incorrectly when there are important externalities. Therefore, governments must step in and regulate or tax activities with significant harmful externalities. Global warming is no different than other externalities; it requires […]
In revisiting my class discussions on the economics of public goods, I came across a paper from the OECD that incredibly I had never been aware of. One of the major results in the paper is shocking. Now the sample size, as with all cross-country analyses, is small, and there are the usual caveats about […]
One reason I think some folks are suspicious of geoengineering solutions to climate change or biotechnology solutions to feeding people and clothing people is that these are not solutions where we “pay for our sins.” If humans perceive “easy” technical fixes to problems, that will not only make us less nervous about what future damages […]