Information plays as crucial a role in migration as in most other economic activities. The faster and more accurately information flows, the more efficient the process. That usually is good for society. But when better information facilitates doing something illegal,…
Category: Other
Faulty logic often clouds economic policy debates
If farmers don’t get extra subsidies, pretty soon no one will want to farm and we will all starve. If stopping illegal immigration raises wages for roofers, contractors will be forced out of business and our houses will rot away…
Pension bills will come due
Public pensions are a critical issue especially as baby boomers retire, but they are fraught with confusing technical details. Two new studies shed much light on pensions for citizens interested in public policy. The first, a report by the Minnesota…
A billion here, a billion there…what does it all mean?
U.S. Army Gen. Peter Schoomaker’s recent claim that the 2007 defense budget equals what Americans spend on “plastic Santa Clauses and tinsel” made me mutter, “Is this guy stupid or dishonest?” The Army’s chief of staff misused data to support…
Stadium ploy nothing new
A legislative session really confirms the Old Testament assertion that “there is nothing new under the sun.” Stadium funding, tax gimmickry and property developers’ shameless raids on the public purse resurface each session just like the Capistrano swallows return to…
Big projects like light rail can enhance property value
The Fifth Amendment to the U.S. Constitution requires paying just compensation when any private property is taken for public use. Some property-rights militants argue that any government action that diminishes the value of private property constitutes a “taking” for which…
U.S. can’t control oil prices
President Bush’s speech on gasoline prices Tuesday danced around peripheral issues but failed to address the underlying problems. Congressional responses were about as irrelevant. The measures these officials proposed were largely symbolic. They might give the general public some impression…
Average rates tell true story about taxes
With tax deadlines fresh in our minds, it is a good time to reflect on how our income tax returns lend insights on policy questions. Start by calculating your own average tax rate. Then compare it to your marginal rate.…
Zoning decisions can never please all property owners
It is impossible to define property rights in ways that satisfy everyone. This is particularly true when demand for the property involved increases dramatically. The best society can do is define rights so resources are used as efficiently as possible.…
Do signs point to inflation? Time will tell
I usually don’t see inflation hiding behind every tree, but some current prices give me pause. Gold, the time-honored inflation hedge, is near $600 per ounce — the highest in two decades. Copper is about $2.70 per pound, or three…