Saturday , July 31 2021
Home / Tag Archives: Regulation and Subsidies

Tag Archives: Regulation and Subsidies

Thanks to the Oppressed Chinese

Assuming a nuclear war can be avoided, perhaps future historians will remember the growth of the Chinese influence in the world as the event that saved individual liberty, prosperity, America, and Western civilization. At least, that’s the optimistic way to look at Chinese tyranny and its impatient imitators in the West. This hope is inspired by the Cold War. When Communists were conspicuously and proudly in power in the Soviet Union (and in China and elsewhere), they...

Read More »

John Tamny’s Hayekian Take on Covid Policies

“John Tamny bravely describes the terrible and senseless economic pain caused by politicians panicking in the face of a health concern that—let’s be real—is no worse than a bad flu season.” So writes Forbes publisher Rich Karlgaard in his blurb for John Tamny’s latest book, When Politicians Panicked. Let’s see: The worst flu season in the last 100 years was in 1957–1958, when the Asian flu (technically H2N2) killed between 70,000 and 116,000 Americans. If a flu...

Read More »

In praise of “death panels”

As far as I know, neither political party has ever advocated “death panels”, that is, panels of experts that would deny Medicare coverage to FDA-approved treatments that don’t pass a cost/benefit test. But maybe they should. Biogen’s new drug to treat Alzheimer’s was recently evaluated by the FDA.  Here is Rachel Sachs in Health Affairs: In March 2019, both trials were stopped halfway through, when “a planned interim analysis met prespecified futility criteria.” But...

Read More »

Rosen versus Henderson on Child Tax Credits

Here’s a video of an interview that Paris Schutz of WTTW, the PBS channel in Chicago, did on the expansion of the child tax credit. Jeremy Rosen argued for and I argued against. Funny story: I got on the Zoom and within a minute or two Jeremy got on. I didn’t know who he was, figuring he might be the interviewer. We got into a friendly chat about where he lives, working during the lockdown, etc. Then he said words to the effect, “This Hoover guy is sure to have a...

Read More »

Henderson on John Batchelor Show on Family Allowance

Evan Sherman May 7 2021 at 3:50pm I noticed that the question of externalities did not come up in the interview. David, what would you say to that question? (I assume that this cannot be the first time a respondant has raised this question in response to your argument.) E.g. Families A and B each contain 2 adult workers doing the same jobs (same productivity, same...

Read More »

Child Allowances are a Bad Idea

In the recent $1.9 trillion spending bill, Congress passed a measure to give monthly payments to parents with children. Although the measure will expire at the end of 2021, there are moves on both sides of the congressional aisle to implement a permanent child allowance. The amounts are not small. Under the current program that Congress passed, families will get a $3,600 annual tax credit for each child under age six and a $3,000 tax credit for children ages six to...

Read More »

Brookings’ Cliff Winston on Infrastructure

President Joe Biden is planning a multi-trillion-dollar infrastructure and jobs package to spur transformative change to the economy. Unfortunately, the infrastructure component of his plan will fail to significantly improve the nation’s roads, bridges, and the like because it ignores the vast inefficiencies in current transportation policy that greatly reduce benefits from infrastructure spending. Let me take you on the journey of a dollar of government spending...

Read More »

Great Cowen Interview of John Cochrane

Yesterday, Tyler Cowen published his interview with Hoover Institution economist John Cochrane. It’s a lot of fun and full of insights. I recommend the whole thing. Some fun highlights follow. If You’re So Smart, Why Aren’t You Rich(er)? COWEN: Brazil has very high real interest rates for decades, right? Arbitrage doesn’t seem to work. COCHRANE: Well, that’s not an arbitrage. An arbitrage is the opportunity to make a sure profit, no risk. You got to invest in Brazil,...

Read More »

How the Feds Gave a Competitive Advantage to Conservative Radio

This point is obvious once you think about it. It’s basic economics. It’s just that I had never thought about it. It is also worth noting that talk radio in the 1980s was a much more ideologically diverse industry than it is today, with many hosts from both the political left and right. Contrary to conservative talk radio hosts who explain their dominance by the existence of a silent majority of average Joe listeners, ironically it was the federal government that...

Read More »

Free trade and free labor markets

This caught my eye: [Arindrajit] Dube responds that “one has to be honest about not knowing what would be the impact in every place.” But he points to 2019 research by Anna Godoey and Michael Reich of the University of California at Berkeley, who found that increases in state minimums didn’t hurt employment even in low-wage counties where the new floor equaled 82% of the prevailing median wage. And even if a high minimum wage does kill some jobs—as many studies,...

Read More »