Henry Paulson’s nomination as Treasury secretary is good news. It ends uncertainty hanging over the post since it became clear months ago that the Bush administration was greasing the skids under incumbent John Snow. Paulson certainly seems able and experienced.…
Mixed signals makes Fed’s job harder
Mixed economic signals are making it difficult for the Federal Open Market Committee to decide whether to decrease or increase the money supply, which in turn influences whether interest rates go up or down. Let me make an analogy with…
Capital gains put the “fun” in fungible
UnitedHealth Group did a service for all econ teachers by demonstrating that income is fungible. Something is fungible when it is “freely interchangeable with something else in satisfying an obligation.” By paying CEO William McGuire with highly favorable stock options,…
Creative highway financing doesn’t add up
Whether you’re amused or outraged by the creative proposals to finance improvements to the Crosstown Commons probably depends on how often you travel the interchange at Minnesota 62 and Interstate 35W. The Minnesota Department of Transportation claims that requiring private…