This is change?

This is one of those stories I offer up not because I really know much about the subject at hand but because what’s
being talked about doesn’t pass the smell test for me.   Policy on terrorism was one of those issues where we were supposed to see a distinct difference between the Dubya/vpResident Evil administration and [...]

Common Sense and the sensus communis: anatomy of an American pressure cooker

Gay-Lussac
The pressure of a fixed mass and fixed volume of a gas is directly proportional to the gas’s temperature.
This relationship is known as the Gay-Lussac’s Law and a pressure cooker is an example of the law in practice. Cooking under pressure creates the possibility of cooking with high temperature liquids because the boiling point of [...]

Is it absurd to try to weather the storm?

Is it beyond our ken to maintain a noble purpose as we guide our battered ships of state through the dark shadows of this mild squall of an economic crisis? Whom of us will risk life and limb to keep the ships afloat? Who will cast away possessions for the same purpose? [...]

Uncle Sam Contracts Frater Magnus to Safeguard his Healthcare Liberty

You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time. – Abraham Lincoln
There’s a sucker born every minute. – P.T. Barnum
We, the People, are born every minute. The last ten [...]

This creek smells funny. How did we get here?

Imagine you were rowing your boat gently down the stream and one of the oars got caught in the hatch. What would happen? Logic suggests that the current would slowly move you downstream as you spun the boat in circles.
O.K. Rowboats don’t have hatches, but Orrin Hatch is a creature and a feature [...]

It’s Time to Downsize the US

In difficult circumstances, such as the current economic crisis, it’s normal to work out how one got there as a means to avoid repeating the process. In the current situation, the discussion seems to range between those who feel that the situation is already working itself out, to those who feel that structural dangers [...]

It’s Not about Taxes

I live in California, and you may have heard that we’re having a bit of an argle-bargle about a budget in this state.
The history, for those who’d like it: Back in the 1970s, enough Californians felt their taxes were too high to limit property taxes by law. The limit is low, (1.5%, [...]

Should Markets Respect Societal Bounds?

As you know, I frequently rely on the British press for news and political analysis. I was delighted to find a link on Dr. Mark Thoma’s Economist’s View to the BBC’s broadcasts of the Reith Lectures for 2009. Dr. Michael Sandel, Harvard Professor of Government, delivers four lectures on the prospects [...]

It’s all Lemonade when it comes to Executive Pay

I’ve had to read executive pay studies for some time since Corporate Finance is one of my fields. This is one of those areas where every time they think they come up with a good explanation and plan, we see a complete failure in the real world. This is because it fits under theories [...]

The Chicago School v. The Rest of Us

There’s a very big debate between economists that’s beginning to spill on to the pages of major newspapers.  Suddenly, people that I usually only read in scholarly articles are attending conferences where they give papers in what passes off more as the lessons of theory and empirical evidence instead of the theory and evidence itself [...]