On the heels of my post on upward mobility comes an insightful post by Cato’s Michael Tanner. Two key quotations: In the end, however, one has to ask a more basic question. Why do we care about inequality at all? Poverty, of course, is a bad thing. But is inequality? After all, if we doubled [...]

Say what you want about Ron Paul—and there is a lot to say—this is perhaps the best one-sentence commentary on his candidacy to date: It is quite remarkable that a man who renounced his membership in the Republican Party because he so despised the Ronald Reagan administration could now be running for the GOP nomination [...]

I read an interesting article on economic mobility in National Review Online, which got me thinking. The article is good in that it points out some of the statistical challenges in measuring upward mobility. For example, who counts as poor? Who counts as middle class? Are we measuring intergenerational or intragenerational mobility? In acknowledging these [...]

HistoryNet has an article on the topic of cultural property and who owns it. The article, The War Over Plunder: Who Owns Art Stolen in War?, addresses some of the same topics I addressed in my comment for the Chicago Journal of International Law at the Law School of the University of Chicago, Keeping the [...]

All your sophisters cannot produce anything better adapted to preserve a rational and manly freedom than the course that we have pursued, who have chosen our nature rather than our speculations, our breasts rather than our inventions, for the great conservatories and magazines of our rights and privileges. ~ Edmund Burke, Reflections on the Revolution [...]

A number of people have asked me lately what I’m reading on economics and the financial markets right now.  Truth is, I’m always reading such things, and no short list can even come close to covering the variety of material I try to read, from the scholarly and serious (e.g., Posner, Becker, Mankiw, etc.) to [...]

Wow, look at it go. For reference: this is only 8 days after the $7.4 trillion estimate and only 14 days after the $4.284 trillion estimate. That’s $4,216,000,000,000 in two weeks. If you really want a fright, keep reading. If we were to keep spending at this rate through the first 100 days of the [...]

In case you’ve already resumed sleeping normally after my prior post on the EMP threat, the Wall Street Journal has more to remind you of the danger.

That’s what the Fed is pledging to “rescue the financial system,” according to Bloomberg.com. That’s 50% of 2007 GDP, or 288% of 2007 federal tax revenues. Makes my prior post sound look like a praise of good budgeting.

That’s what the so-called “financial crisis” of 2008 has cost the federal government directly… so far.* Wonder how that stacks up to other crises? CNBC has a slideshow showing the costs (inflation-adjusted) of some of the biggest government projects ever. There are many events not listed in that slide show, of course. Two of the [...]