A Little End of Semester Economic Humor

Enjoy!

Utah's National Parks Reopen Under State Supervision

Utah Governor Gary Herbert, in an effort to repair the damage to Utah's economy from the closure of the national parks during the federal government shutdown, struck a deal with the Department of the Interior to reopen the parks under Utah State supervision.  Is it time for the state to take back control of federal lands to protect our own economic interests?

Debt Limit: Hype or Reality?

The current government shutdown has created a lot of discussion, finger-pointing and hype, but the upcoming debate on raising the debt limit could be even more volatile.  Here is an article from Greg Mankiw's blog that suggests the world will not end if the debt limit is not raised.  What do you think?

Is risk of default just hype?

Junk Food Junkies Rejoice!

 Yes, Twinkies are back, and you can buy large sodas in New York City.  It's like heaven for junk Food junkies!

 
Twinkies Return!

Large Drink Ban Fails

Herman Caine's 999 Plan

Laffer's Flat Tax Proposal

Update on the Lesson of the Pencil

Thanks to student Ivan Cajado for sending this updated video on the lesson of the pencil.

BC Students Seen with "Green" Leaving Federal Reserve

No, it wasn't a late St. Patrick's Day celebration; nineteen LDSBC students were observed leaving their tour of the Federal Reserve Bank today with a personal stash of the "green" stuff which is stockpiled at the bank.  It isn't clear if they were "Washingtons", "Lincolns", "Jacksons" or "Benjamins", but there isn't a "shred" of evidence they did anything wrong.  The secret is that it pays real money to attend a Federal Reserve tour.  Don't believe it?  Ask anyone who was there!

How Much is a Trillion?

The video says it all...

Senate Budget Proposal 2014

Here is the Senate budget proposal which was released yesterday.  I am also including a link to the Heritage Foundation's analysis of the budget below.

 Senate Budget 2014

Heritage Foundation Analysis

Path to Prosperity 2014

House Budget Chairman Paul Ryan releases his proposed 2014 budget.  His last two proposals passed in the House of Representatives, but went nowhere in the Democratically controlled Senate.  Will this one meet the same fate?




Ryan 2014 Budget

http://budget.house.gov/

Calvin Coolidge and the Moral Case for Economy

As we "celebrate" the centennial of the 16th amendment to the Constitution this year (authorizing taxes on income), Amity Schlaes, a recipient of the Hayek Prize and the Frederic Bastiat Prize for free-market journalism, writes a fascinating article on our urgent need for a political leader who can just say "no" to spending. Calvin Coolidge, 30th president of the United States (1923-1929) was just such a man. Read the full article here:

Calvin Coolidge and the Moral Case for Economy

The Economics of Gun Control

This article from the Washington Post makes some interesting observations on the economics of gun control.  Two economists attempt to attach an external cost to society of gun ownership by individuals.  Another suggests that owners be required to insure guns as part of a new registration process.  Have they opened a can of worms?  Read about it here:

Economics of Gun Control

Outsourcing as an Economic Benefit

A number of years ago, economist Greg Mankiw (then chief economist in the Bush Whitehouse) created a firestorm in the media with his comments on outsourcing as an economic benefit.  The link below is from his blog, referencing Adam Smith and David Ricardo regarding the benefits of trade (including outsourcing).

Mankiw on Outsourcing

Chicken Wing Shortage?

There has been a lot of hype recently over a possible chicken wing shortage for next weekend's Super Bowl game.  Is it real, or is it just an attempt to increase demand based on faulty expectations?
Read about it here.

Chicken Wing Shortage?

Another Case of Unintended Consequences?

As is often the case, government intervention in the economy leads to unintended consequences.  As government mandates higher fuel economy, manufacturers find new ways to reduce the average weight of their vehicles.  Does this lead to higher incidence of injury or worse in accidents?
Read about it here:

http://www.nationalreview.com/articles/337110/our-cars-weight-problem-robert-e-norton#

Milton Friedman and Free Markets

The Lesson of the Pencil