The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. - F.A. Hayek
Posted in Politics, Standards of Living, You Can't Have it Both Ways on Apr 7th, 2008
A recent news story (I link to it at the very end of this post) brings to mind two Journey songs (yes, I was/is a Journey fan), “Anyway you want it,” and “Don’t Stop Believing”. Imagine the reaction if I got on the news today and exclaimed,
Posted in Voluntary Society, You Can't Have it Both Ways on Mar 28th, 2008
I propose that anyone who is opposed to the offshoring of jobs and who uses that notion as a scare tactic to gain political favor also be opposed to the inshoring of jobs as well.
Matthew Slaughter, in an OpEd in yesterday’s WSJ, reminds us that,
In 2005, insourcing companies employed nearly 5.1 million Americans, 4.4% of […]
Posted in Inflation, Macroeconomics, You Can't Have it Both Ways on Mar 25th, 2008
On the balance sheet of the U.S. Federal Reserve you will find the following line item: “Notes and bonds, inflation-indexed.”
Posted in You Can't Have it Both Ways on Mar 21st, 2008
Many who oppose individual liberty and free exchange levy the common charge that big corporations are necessarily exploitive of both consumers and workers. I can’t tell you how many times, even in polite company, I listen to people argue how evil Exxon is because they earned over $10 billion during the last fiscal year (over […]
Posted in Education, You Can't Have it Both Ways on Mar 10th, 2008
A California appeals court ruling clamping down on homeschooling by parents without teaching credentials sent shock waves across the state this week, leaving an estimated 166,000 children as possible truants and their parents at risk of prosecution.
The homeschooling movement never saw the case coming.
…
The Second District Court of Appeal ruled that California law requires parents […]
Posted in Politics, You Can't Have it Both Ways on Mar 7th, 2008
The political class in Chicago has now made the city the first and only in America where the cumulative sales tax rate exceeds 10%. That seems an awfully strange thing to do in a city where over 21% of the measured population lives under the poverty line (according to the American Community Survey). One of […]
Posted in You Can't Have it Both Ways on Feb 20th, 2008
It is understandable that some people are concerned about state and local governments selling government owned (i.e. commons) property to private companies and investors. Recent examples include roads in Chicago and proposals to sell the Golden Gate Bridge and other properties. While I believe these deals make a great deal of economic sense, and will […]
Posted in Taxation, You Can't Have it Both Ways on Feb 4th, 2008
An old student asked me a simple question regarding tax incidence and it got me to thinking …
Let’s talk about payroll and income taxes. The economic incidence (who actually bears the burden of a tax) is a function of the elasticity of demand for labor (with respect to wages - actually, total compensation including non-pecuniary […]
Posted in You Can't Have it Both Ways on Jan 30th, 2008
Jason Furman and Steven Landsburg are having an econ-celebrity death match over at the LA Times. My favorite salvo to date:
It seems fundamentally unfair to say that we’ll help you out with an expensive stimulus package if you lost your job this month, but we’ll foot you with the bill for that package if you […]
Posted in Classical Liberalism, You Can't Have it Both Ways on Jan 28th, 2008
One of the most amusing things about living in Western Massachusetts, perhaps the least freedom friendly place in the United States, is how serious people take their politics. It is a way of life here, something by which people define themselves. Deval Patrick wins the governorship - people literally dance in the streets; George Bush […]
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)