Economics

I’m the 0.0001%: My Confession 0
- Economics
- February 5, 2019
Income inequality in the US celebrated its 50th birthday last year. Having declined steadily after World War II, 1968 began a 50-year winning streak. Few are cheering, though, because concentrations of wealth are dangerous. People controlling huge amounts of money can use their buying power to push us all around. Hence billionaires like Mark Zuckerberg,
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Why Does the Federal Government Fail So Miserably Most of the Time?0
- Economics
- February 4, 2019
6.5 M people with active social security numbers are 112 or older. When I spotted this headline in the Washington Times, and misinterpreted it, my heart took a bounce. First came astonishment and joy. With that many men and women living to be 112 or older, and surely many more living at least
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Cheesecake Factory’s Free Cheesecake Disaster Is a Lesson in Scarcity and Prices 0
- Economics
- February 4, 2019
It sounded like a great idea. To celebrate its 40th anniversary, in November Cheesecake Factory announced it was giving away 40,000 pieces of cheesecake to customers who used the DoorDash app to place orders. Giving away, as in free. What could possibly go wrong by giving away 40,000 slices of the most delicious cake on
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9 Big Questions About Democratic Socialism 0
- Economics
- February 4, 2019
Democratic socialism is hot in the United States right now. Both the American media and young people seem to be enamored of the thought of steeply progressive, redistributive tax rates designed to achieve some vision of justice. As with most public policy ideas, we tend to get pretty far down the road before we ask
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Democratic Socialism and Regular Socialism Have the Same Goal 0
- Economics
- January 29, 2019
The longing for the socialist dream comes in part from the great success of capitalism as an engine of prosperity. From the nineteenth century onwards, the entrepreneurial economy created prosperity on a scale that had never been seen before in history.The socialists, however, believed economic success would become even greater in a society of egalitarian
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California Now Wants to Tax… Drinking Water 0
- Economics
- January 28, 2019
California’s new governor has wasted little time continuing the state’s seemingly limitless expansion of government. Governor Gavin Newsom’s first budget proposal, published last week, suggests instituting a tax on drinking water in the name of cleaning up California’s water systems. The “Environmental Protection” section of the 2019-2020 budget seeks to establish a new special fund,
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