When Ulysses faced temptations that he knew might wreck his ship, he prudently had his crew tie him to the mast. So bound, he heard the sirens’ beautiful song, but he, his ship and its crew stayed off the rocks.…
Category: Other
Central bank loses money? Don’t worry
During this dreary time of the year, it is nice to encounter news stories that make you giggle. That happened last week when I read a wire service story reporting, with much hand-wringing and tut-tutting, that the European Central Bank…
Are broadband Internet connections a “public good?”
That is what economists would ask when approaching an issue like the one that St. Paul’s City Council took on Wednesday. Economists also would want to know if private market forces are failing to produce broadband access in optimal quantities.…
Re-examining our bad ideas is a good idea
Reviewing the past can get tiresome. I am happy that the “here’s a look at the top stories of 2004” is over for another year. Retrospection can teach us valuable lessons, however. Perhaps that is why our nation seldom examines…
Government does mad cow kow-tow
Packinghouse workers often wear rubber boots to protect themselves from wetness or filth. Now they may need them because they have to work knee-deep in government hypocrisy. That is one conclusion evident in the strange case of Creekstone Farms, one…
Perceived risks can skew common sense
Societies often are poorer because of the irrational ways we react to uncertain events. Monday’s Pioneer Press brought that home. News of the devastating tsunami filled the front page. Inside the paper, thoughtful articles examined the longer-term ramifications of taking…
Tax or borrow? Both approaches have limit
When a state wants to build a road or building, should it borrow the money or use current taxes? The new Minnesota Legislature faces that question. The consensus is that we need more roads. The governor favors borrowing while many…
“The king has no clothes!” Now what?
Does explicitly acknowledging the obvious really change anything important? Take my waistline, for example. I weigh more than is good for me. I know that. So do my doctor, family and friends. Given that widely shared view, does my explicitly…
Pollution cleanup is good; proposed tax is bad
This week, a coalition charged with finding a way to clean up polluted bodies of water in Minnesota announced a plan that will raise some $80 million per year by adding a tax to water bills. The objectives of the…
China textile tax illustrates flaws in trade
China recently announced a measure that will hurt households in the United States and Europe by increasing clothing costs. It will also harm Chinese firms that make inexpensive apparel. That many hailed this measure illustrates the convoluted logic and hypocrisy…