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…
Globally immigrants go where the work is
Worries over illegal immigration are not unique to the United States. While Congress debated immigration reforms in the past two weeks, another boatload of Africans drowned while trying to reach Spain’s Canary Islands, and undocumented Bolivian workers died in a…
Dedicating sales tax is bad public policy
Conserving resources and providing habitat for wildlife is good. So are state parks and the arts. I’d happily pay more taxes for Minnesota to increase spending in these areas. But amending the state constitution to dedicate a fixed proportion of…