The Unbroken Window

A report to be released Monday by the Transportation Department shows that over the past seven months, Americans have reduced their driving by more than 40 billion miles. Because of high gasoline prices, they drove 3.7% fewer miles in May than they did a year earlier, the report says, more than double the 1.8% drop-off […]

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Automobile technology has improved dramatically over the past three decades. Given the relative cheapness of gasoline, as well as the increases in household income and total compensation over the same time period, rather than use these technological advances to produce (and consume) cars that get better gas mileage, “we” have used it to build larger, […]

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And no, I am not going to dissect the situation with Game Theory. For today I am interested in understanding the timing of when parents attempt to potty train their children. My mom claims that I was potty trained at one (how is that possible when I am not all that well trained now!) and […]

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Dear Editor:
Please allow me to respond to the myriad complaints I read and hear about gas prices and market pricing in general. The most recent letter to the editor on this matter contains three errors in economic thinking that are extraordinarily common and if paid heed to could result in the implementation of pernicious public […]

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