President Bush has made record progress in assembling a cabinet. As the process now moves to lower-ranked positions, the public and media are likely to focus on other issues. This inevitable shift of attention is unfortunate because the new president…
Economics: California holds pricing lessons
Amid the frenzied finger-pointing taking place because of California’s electric power problems, everyone apparently has forgotten an important economic principle known as the First Law of Holes. Simply stated, when you have dug yourself into a hole, stop digging. Deciding…
Tough to measure new economy that’s flush with service industries
Imagine the following scene: NBC reporter Andrea Mitchell and her husband, Alan Greenspan, decide to take advantage of the post-inauguration lull and get away from Washington. A few days at a Colorado mountain resort will be wonderful. They arrive at…
Deeply held values, intense fears clog the education voucher debate
Societies benefit greatly when governments ensure that most citizens are healthy and well educated. That is a nearly universal lesson of history. The question is, how this can best be achieved? As we saw in last week’s column, while government…