As the US debates making compulsory wearing a mask to prevent the spread of a deadly pandemic, it’s instructive to think what the Father of our country—George Washington thought about individual freedom vs the general good.
On July 9, 1787 in Philadelphia, the 50-something delegates to the Constitutional Convention argued intensely over how much a slave was worth while at the same time completely omitting the word “slavery” from the Constitution […]
What if the Founding Fathers didn’t actually like the Constitution they ended up with?
Hospitals and public health officials are reporting that African Americans are dying at higher rates–6X in Chicago vis a vis whites there. Here’s the reason why:
Between 1900 and 2014, the US spent 8X more of its national income on public health. During the same time, its citizens could expect to live 31 years longer.
Researchers at the National Institute of Health examined six years of workplace safety data from the 1990s. Here’s what they found:
The right doesn’t love to hate the left’s biggest cities and states.
It has to…
Here’s the saddest song I’ve got:
Here’s a short story:
Here’s my short story for Saturday:
During the Constitutional Convention in 1787, Ben Franklin was concerned that giving states equal power regardless of their populations would allow a minority to rule a majority. Fast forward to 2020: The GOP Senate majority […]
I’ve never met someone in HR who keeps track of the marginal product of labor. In the real world (like outside of an econ textbook) employee pay has little to do with actual productivity and […]
The US Senate *majority* represents a *minority* of the population and a minority of the economy. The very structure of our government is flawed—and it’s exactly what the protagonists of the US Constitution feared. Consider […]
Short version (to be elaborated on in future post): UBI (and M4A and affordable housing) raises reservation wage –> shifts labor supply curve —> new (higher) equilibrium wage.
I like to think this blog is about my own ideas, but sometimes something comes along that’s worth repeating. This is one of those. “The late Ryszard Kapuściński coined a striking term to describe those […]
“Every particle in nature has an amplitude to move backwards in time…”
Capitalism defeated Communism? More like de facto socialism defeated Russian imperialism. Here’s why.
Billionaires aren’t winners of an actual free market. Their companies (eg Microsoft, Amazon, Facebook, Berkshire Hathaway, et al) are price-setting, not price-taking, monopolies, monopsonies and oligopolies. Investors don’t want to invest in companies with competition. […]
The relationship between gun ownership rate and the homicide rate is clear. They’re closely connected. So just how closely correlated are they? Well, in fact, the rate of gun ownership explains 76% of the variation […]
Read the chart. It should speak for itself. I bring data to the convo. No point arguing about subject without seeing the numbers. Here they are. The correlation is significant. R-squared value shown. […]
What do Nixon, Ford, Bush 1, Bush 2, John McCain and Mitt Romney have in common? Two things: First, they were the choices of Republican voters gave us. They were their boys. Two–here it comes–Republicans […]
They’re probably rolling in their graves. They’re invoked constantly–but rarely with any specificity. I’m talking about the US Founding Fathers and the narratives we’ve spun about their political, social and economic thoughts. That is, […]
What if Adam Smith’s legacy had been completely hijacked by a visible hand of naked self-interest?
What if the biggest complainers about the federal government were its biggest beneficiaries?
It’s this simple:
Median pay of the 10 fastest growing jobs between 2016 and 2026 is $27,000
It’s about leverage. You produce more money per hour than you get paid for—otherwise you wouldn’t be hired by a for-profit company. But the amount you get isn’t set in stone. Your worth depends on […]
Unlike ownership of cars or knives or hammers or nails or lead paint or parachutes, the primary purpose of gun ownership is staying safe and yet the primary effect of more gun ownership is less safety.
Three decades of data show clearly: gun deaths fall when gun ownership falls and rise when gun ownership rises.
What free market? As the US debates “socialism” and “capitalism”, it’s important to remember that government has been a large part of the American economy for generations. Consider data from the last 70 years […]
We might be living in an age of self-driving cars and going to Mars, but we also have totem poles.