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

End of Semester Humor

This has been a very interesting period for studying economics.  Sometimes it's nice to just sit back and have a good laugh at some of the craziness we see around us.  Here's a collection of recent economic/political cartoons.  Enjoy!