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Tag Archives: Uncategorized

Joker Poker: Fed Governors Testify In The House, Fed’s Record On Handling Asset Bubbles

Jeffrey Lacker of the Richmond Fed and Esther George of the Kansas City Fed appeared before a subcommittee of The House Financial Services Committee today to discuss Federal Reserve “independence.” I say “independence” because The Fed governors and the Chair of the Fed are appointed by The President of the United States subject to confirmation by the US Senate. So, The Fed is really a public-private partnership. Two regional Federal Reserve presidents defended the public-private structure of...

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Outed! I am a SJW…

So, I guess it turns out I’m a “social justice warrior.” At least, that’s what an angry emailer called me. (On the same day, I was also called a “cuckservative,” so I’m on a roll!) All because, in this podcast on EconTalk, talking with my good friend Russ Roberts, I said the following: Well, there are institutions that we can judge about their performance behind the veil of ignorance, or, as Montesquieu talks about slavery, separate from individual acts. And the test is that: Does it...

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There Are 9.93 Million More Government Workers Than Manufacturing Workers

The August jobs report was filled with some interest factoids, like there are now 9.93 million government workers than there are manufacturing workers. That is a ratio of 1.81 government workers for every manufacturing worker. Such was not always the case. But a variety of factors such as labor cost differentials, EPA regulations and taxes had led to manufacturing jobs to be sent overseas. Now a 1.81 government to manufacturing employment ratio is called OVERHEAD. And you wonder why high...

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The Other Speech—— Hillary the Hawk Spreads Her Wings

While the media and the American people were avidly watching and commenting on Donald Trump’s much-awaited immigration speech, another peroration by a presidential candidate somehow got overlooked: Hillary Clinton’s appearance before the American Legion. Overshadowed by Trump’s visit to Mexico, and his subsequent stem-winder, Hillary’s performance was greeted with tepid applause by her military audience, and pointedly ignored by her media cheering section. The reason for the latter’s silence...

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The Establishment Campaign to Blame Putin for Everything

Hardly a day goes by without some “news” about the Russian “threat,” and in the past twenty-four hours the hate-on-Russia campaign seems to have picked up speed. After learning from Hillary Clinton that Vladimir Putin is not only responsible for the Trump campaign, but also for the “global nationalist movement” that yanked the British out of the European Union, mainstream media are telling us that Russian interlopers are supposedly invading our electoral process by hacking into voter...

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Rawls and Desert

I think John Rawls’s views on moral arbitrariness, as presented in A Theory Justice, make no sense. Rawls writes that inborn assets such as wealth, intelligence, and talent, should not influence the distribution of society’s holdings (TJ, inter alia, 15, 72-74). The reason is that inborn assets are undeserved and, for that reason, morally arbitrary. Famously, Rawls does not limit this dictum to material resources such as inherited wealth. He extends it to personality traits such as...

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Safe spaces and academic freedom

“We have work to do.” In light of the renewed attention to questions of “safe spaces” and academic freedom, I’ll repost the link to my long post on the topic from last spring. The university is an association for the discovery, transmission, and preservation of knowledge… originally defined in part by the literal walls and gates that surrounded it. Academic freedom itself is a safe space: here you are free to inquire, debate, teach, and learn, without fear of being shouted down,...

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Hillary’s Crazy “Alt-Right” Conspiracy Theory

Hillary Clinton’s recent “alt right” speech marks a new and dangerous low in what has become race to the bottom – and, should she be elected, it has ominous foreign policy implications as well. Alarmed that Trump is reaching out to the African-American community, Mrs. Clinton tried to make the case that the GOP candidate is a apologist for such groups as the Ku Klux Klan (do they still exist?) and an obscure amalgam she dubbed the “alt right.” As she named this latter group, there was a...

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The Fatal Conceit of Youthful Idealism

J.K. Rowling came down hard on Twitter two days ago, destroying the bonafides of orphanage volunteering programs (from here on out to be known as the “orphan industrial complex”), whereby wealthy college students volunteer to “help” at orphanages in the developing world. Rowling rightly calls such interventions “voluntourism”, created not to actually help impoverished children but to provide feel-good experiences for idealistic elites. The problem is not just the poverty-voyeurism...

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The Foreign Invasion of American Politics——To Stop Trump And Stay On The Washington Gravy Train

As one of my Twitter followers put it so succinctly: “Globalization: Where leaders from any country get to pick US Presidents.” As the Clinton campaign’s Robby Mook tears a page out of Joe McCarthy’s book and smears Donald Trump as being “Putin’s puppet,” the irony is that this election has seen foreign interference in American politics to an unprecedented degree – on Hillary’s behalf. In the past, foreign actors tried to hide such activities, rightly thinking that they might encounter...

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