Daniel J. Mitchell It’s no secret that I dislike the value-added tax. But this isn’t because of its design. The VAT, after all, would be (presumably) a single-rate, consumption-based system, just like the flat tax and national sales tax. Show More Summary
That is the new Princeton University Press book by Rachel Gelnnerster and Kudzai Takavarasha. I am not the one who should be evaluating this work, and I won’t have the chance to look at it before final exams and papers descend upon me, but it appears to be a highly useful and readable guide to […]
Neal McCluskey Over at SeeThruEdu I’ve got a post responding – sort of – to a recent article on the Common Core by National Review’s Ramesh Ponnuru. It’s only “sort of” because for the most part Ponnuru is right on the money: Some of the allegations against the Core are highly dubious, but so are many of the arguments proffered for it. Show More Summary
…the pace of actual trade settlement in renminbi has failed to keep up [with its role in finance]. It still accounts for just 0.8 per cent of the global total, a lower share than the Thai baht or the Swedish krona. That is from the FT, via Amni Rusli. The recently reported fact that the […]
1. What did they serve Cameron in China? 2. German elite Euroskepticism. 3. New trend: sock of the month club. 4. How to coordinate lonely second graders. 5. Paul Rubin on the true meaning of competition and cooperation. 6. Slate pilots a management advice column by Ray Fisman.
They are mostly in the Midwest, some South Carolina too. For the pointer I thank Craig Richardson.
From the New York Times on one of the workers who will participate in the fast food workers’ one day strike: Simon Rojas, who earns $8.07 an hour working at a McDonald’s in South Central Los Angeles, said he would join Thursday’s one-day strike. “It’s very difficult to live off $8.07 an hour,” said Mr. Rojas, […]
David Boaz Today is a great day for freedom. On this day in 1933, the 21st Amendment was ratified, thus repealing Prohibition. My former colleague Brandon Arnold wrote about it a few years ago: Prohibition isn’t a subject that should...Show More Summary
“Narrow networks may seem like a bad idea,” David Dranove and Craig Garthwaite blogged last month. The two Northwestern University professors acknowledged that excluding some providers from health plans offered through the exchanges runs the risk of disrupting care patterns. But the model is “not some cruel attempt to limit patient choice foisted upon us by […]
This paper (pdf) by Card, Heining, and Kline appeared earlier this year and is published in the QJE and somehow it escaped my notice. Here is the first part of the abstract: We study the role of establishment-specific wage premiums in generating recent increases in West German wage inequality. Models with additive fixed effects for […]
Tad DeHaven According to popular myth, Democrats favor government planning of the economy and Republicans favor free markets. Today’s example of why this is baloney comes from the Republican governor of Indiana, Mike Pence. Before IShow More Summary
Ilya Shapiro For the second time this fall, Cato has filed a brief supporting a lawsuit challenging the power of cities to stifle and regulate speech by licensing tour guides—effectively restricting who may lawfully speak to an audience...Show More Summary
Alex Nowrasteh Immigration reform is taking its time in Congress but the executive branch agencies charged with enforcing immigration laws have not been idle. Rather, they’ve been implementing bits and pieces of the reform package on their own – but not any of the good ones. Last month, the U.S. Show More Summary
Daughter Yana (“Dotchka”), who is almost 24, will visit Singapore (!) for the first time in the second half of December, flying from her current abode in India. What do you recommend she do and see there? When it comes to the social and economic dimension, she is interested in market urbanism, economics of infrastructure, […]
In 2008, 1.9 million Portuguese workers in the private sector were covered by collective bargaining agreements. Last year, the number was down to 300,000. The article is by Eduardo Porter and is interesting throughout. Here is one additional bit: The drop in unionization in Portugal “is going to blow the wage distribution apart,” David Card, a […]
Doug Bandow The longest war in American history drags on, with Washington a captive of purposeless inertia. The Obama administration should bring all U.S. forces home from Afghanistan and turn the conflict over to the Afghans. AfterShow More Summary
Daniel J. Mitchell Let’s do a simple thought experiment and answer the following question: Do you think that additional laws from Washington will give you more freedom and more prosperity? I don’t know how you will answer, but I strongly...Show More Summary
He writes: Next, conduct a thought experiment. What happens if there is an increase in the aggregate stock of liquid assets, say because the Treasury issues more debt? This will in general reduce liquidity premia on all assets, including money and short term debt. But we’re in a liquidity trap, and the rates of return […]
1. Scott Sumner on the British recovery. And did the Glorious Revolution weaken English institutions? 2. In which countries do schoolchildren report the highest levels of happiness at school? Where are the big gains in PISA scores coming? 3. The Google robotics effort. 4. Can the grid handle renewables? 5. The mood sweater.
He has a very long and interesting post — over 9000 words – so do read the whole thing. Here is one excerpt: …we have an argument that we were not as rich as we thought we were, an argument which indeed seems to me to be true, but that is not an argument that […]