There is a tragic case out of Panama City Beach, Florida where three dogs died in the case of Jason Matthew Reece, 39. Reece however did not return to his van because police arrested him for disorderly conduct. While Reece still allegedly left the dogs in the van to go drinking, it would raise an interesting defense that the police contributed to the tragedy by taking him directly to jail. It is not clear whether he informed the police of the animals.
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So I was delighted to see a new monograph from the London-based Institute of Economic Affairs on the benefits of “offshore” financial centers. Authored by Diego Zuluaga, it explains why low-tax jurisdictions are good news for those of us laboring in less-enlightened places.
Offshore finance serves several purposes, the most salient of which is the efficient allocation of capital. Some of this activity is tax-related, aimed at raising after-tax investment returns. If it were not for offshore jurisdictions, much foreign investment would be vulnerable to double or triple taxation. Because, under such punitive rates of tax, some of this investment would not take place, the existence of offshore centres has real positive effects on economic activity alongside the (plausibly) negative impact…
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By Mario Rizzo
The Chicago-Booth IMG Forum asks their favorite economists two questions. Let us examine them.
Raising the federal minimum wage to $9 per hour would make it noticeably harder for low-skilled workers to find employment.
Why was the word “noticeably” added to the question rather than some specific quantitative amount? In other words, the question could have been phrased: “Would it increase unemployment among low-skilled works by approximately 5 percentage points or less?” I realize that economists would get nervous about mentioning a specific number. But (1) That would reveal the true difficulties in economics of making quantitative predictions and hence tradeoffs; (2) It would take the subjectivity out of the word “noticeable.” Noticeable for whom, and by what standard? Noticeable to the public or to the policy maker or to the economist or to the low skilled workers or to union members?
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There has been continued controversy over the penchant of President Donald Trump to pardon celebrities or political figures or, most recently, a woman who was championed by Kim Kardashian. Today Trump announced that he is considering a pardon for the late boxing sensation Muhammad Ali — not long after he granted a posthumous pardon to boxing legend Jack Johnson (who was advocated for by celebrity Sylvester Stallone). This case however raises the added curiosity that Ali’s conviction was overturned by the Supreme Court in Clay v. United States, 403 U.S. 698 (1971)(when Ali was still under his birth name of Cassius Clay). Obviously, there is no conviction to pardon or commute in this case. In addition to the overturning of the conviction, draft dodgers were given amnesty previously by both Ford and Carter.
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Below is a tweet in which two of the first three winners in the “girls'” 100m dash in a Connecticut competition were transgender women, one of whom, at least, apparently hadn’t begun to transition either physically or hormonally. The Connecticut Post reports on the result and the issue:
The results of the CIAC State Open track and field championships would show that Terry Miller won the 100-meter dash in a meet record time of 11.72 seconds.
The results would show that Miller, the sophomore from Bulkeley High School in Hartford, won the 200-meter dash in a meet record time of 24.17 seconds.
Only the story is not easy. The story remains as one of the most difficult and complex in state athletic history.
To deny a transgender athlete the chance to compete is wrong in every way. To deny a teenage transgender athlete the opportunity to compete sends the kind…
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