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Arnold Kling

Whether the topic is the economic effect of social security reform or the relationship between money and happi [Read More]

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Are Libertarians Crazy?, by Pierre Lemieux
A story in the outgoing issue of The Economist, "Gary Johnson for Liberty" (September 3, 2018), describes a political meeting of Libertarian Gary Johnson, the Libertarian presidential candidate in 2016, who is now running for the U.S. Senate in New M...
Thursday, September 20, 2018

Rogge's Effect on Trade, by David Henderson
To the direct success we have achieved—the sinking of fifteen ships of more than 100,000 tons aggregate, often with most valuable cargo—should be added the indirect effect on the trade war, such the tying-down of warships and the diversion of merchan...
Thursday, September 20, 2018

Does Monopsony Lead to Lower Prices?, by David Henderson
In an unusually critical and mainly on-target criticism of one commenter's critiques of Amazon, Tyler Cowen writes: First, monopsony and monopoly tend to have contrasting or opposite effects.  To the extent Amazon is a monopsony, that leads to higher...
Wednesday, September 19, 2018

Rashomon in 2008, by Scott Sumner
There's a classic Japanese film where four different viewers see the same event in four different ways. I am reminded of this when I consider all the different ways in which the events of 2008 are interpreted.  Obviously you have Keynesian, monetaris...
Wednesday, September 19, 2018

Carens on Nozick on Immigration, by Bryan Caplan
In my forthcoming graphic novel, I argue that all leading moral theories strongly support open borders.  Only yesterday, though, did I learn that philosopher Joseph Carens covered the utilitarian, Rawlsian, and Nozickian cases in a single 1987 articl...
Wednesday, September 19, 2018

Of Mergers, Government Meddling, and Chocolate, by Thomas Firey
This is a story about corporate and investor strategy, government meddling, and chocolate. (Cue Homer Simpson…) It involves the Hershey Company, the pioneering U.S. chocolate maker. Typically, Hershey is the top seller of candy in the United States—b...
Wednesday, September 19, 2018

Are tariffs a big threat to China?, by Scott Sumner
It's very possible that I'm missing something important, but right now I'm having trouble following the media discussion of the US-China trade war.  Let's start with the obvious: 1.  China's exports to the US are a modest share of their GDP (about 3....
Tuesday, September 18, 2018

Regulate the State, by Bryan Caplan
Sometimes an organization has overwhelming power.  "If you don't like it, go elsewhere" isn't a serious remedy; it's a thinly-veiled order to shut up and submit.  In such cases, we should seriously consider breaking the overpowered organization into ...
Tuesday, September 18, 2018

‘Democratic accountability', by Alberto Mingardi
Scott Summer has written a thoughtful post on "The New Philanthropy", suggesting that "nerdy" (rational) new billionaires, who made their way in the tech sector, may foster a new approach to non-profit ventures too. While "traditional rich businesspe...
Tuesday, September 18, 2018

Central Planning in War, by David Henderson
In the last 2 months, I've read 6 books about the attack on the Zam Zam in April 1941. It was the ship my uncle Fred Henderson and aunt Jamie Henderson were on when they were heading to the Belgian Congo to be medical missionaries. It was attacked a...
Tuesday, September 18, 2018

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