Rich People Versus Politicians

Sometimes I wish there were a humane way to get rid of the rich. Without the rich for whipping boys, we might be able to concentrate on what’s best for the 99 and a half percent of the rest of us....

The Economic “Stimulus”

Two centuries ago, when there were plans to create a huge fund of money to pay off Britain’s national debt, the great classical economist David Ricardo objected on grounds that– no matter what the money was said to be for– politicians could spend it...

Teaching Economics

Many professors, mostly on the liberal side of the political spectrum, use their classrooms to proselytize students. I have taught economics for the past 40 years and challenge anyone to find even one student, among the thousands who went through my classes, who can...

The Art of the Impossible

Whoever called politics “the art of the possible” must have had a strange idea of what is possible or a strange idea of politics, where the impossible is one of the biggest vote-getters.            ...

Outliers: The Story of Success

“Outliers” are not politicians who lie even more than other politicians. It is a term used by statisticians to describe some data that are far away from the average– data on seven-foot women or freezing temperatures in Los Angeles, for example....

Random Thoughts for December 2008

Random thoughts on the passing scene: Maybe the current bailout fever is Congress’ way of getting into the spirit of the season– saying in effect, “Yes, Virginia, there is a Santa Claus.” They will undoubtedly also be saying, “Yes, New...

Another Great Depression?

With both Barack Obama’s supporters and the media looking forward to the new administration’s policies being similar to President Franklin D. Roosevelt’s policies during the 1930s depression, it may be useful to look at just what those policies were...

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