Celebrating humanity's flourishing through the spread of capitalism and the rule of law
16 Mar 2025 Leave a comment
in applied price theory, industrial organisation, international economics, International law, politics - USA, Public Choice, rentseeking Tags: 2024 presidential election, game theory, tariffs
Last week, my ECONS101 class covered game theory. At the end of the final lecture, after we had been covering repeated games and tit-for-tat strategies, a really perceptive student asked me about Trump’s tariffs. A lot of the rhetoric about tariffs has been posed in terms of tit-for-tat (see here and here, for example). The…
Why tit-for-tat tariffs may not work against Trump
13 Mar 2025 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation, international economics Tags: 2024 presidential election, constitutional law, tariffs
One clause of the Magna Carta says: All merchants shall have safe and secure exit from England, and entry to England, with the right to tarry there and to move about as well by land as by water, for buying and selling by the ancient and right customs, quit from all evil tolls So tariffs […]
Did you know the Magna Carta was against tariffs?
12 Mar 2025 1 Comment
in applied price theory, industrial organisation, international economics, politics - USA, survivor principle Tags: 2024 presidential election, tarrifs
I shared a “Trade 101 for Trumpies” presentation last month in hopes of educating people about the foolishness of protectionism. Perhaps it should have been a remedial class because the president has just announced another increase in taxes on steel and aluminum from Canada. This is insanely bad economic policy for the simple reason that […]
Trump Doubles Down on Protectionist Failure
11 Mar 2025 Leave a comment
in development economics, economics of bureaucracy, politics - USA, Public Choice Tags: 2024 presidential election, overseas aid
After a 6 week review we are officially cancelling 83% of the programs at USAID. The 5200 contracts that are now cancelled spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States. In consultation with Congress, we intend for […]
US AID, current status
08 Mar 2025 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation, international economics, politics - USA Tags: 2024 presidential election, free trade, tariffs
We break down how much of a tariff is ‘passed through’ to customersBy Jason Douglas, Anthony DeBarros and Danny Dougherty of The WSJ. Excerpts:”For example, a 10% tariff on shoes from China would raise their sticker price 4% or so, but on wine or olive oil from Italy, almost 10%.Why the difference? Tariffs aren’t the…
How Much Do Tariffs Raise Prices?
07 Mar 2025 Leave a comment
in law and economics, politics - USA Tags: 2024 presidential election, constitutional law
In an interesting 5-4 split, the Supreme Court has denied the Trump Administration’s application for a stay of a district court’s temporary restraining order (TRO) against the Administration’s effort to freeze $2 billion in funds from the U.S. Agency for International Development. The Administration is down by one vote but hardly out in the fight […]
Down But Not Out: The Supreme Court Rules 5-4 Against the Freezing $2 Billion in USAID Funds
07 Mar 2025 Leave a comment
in law and economics, politics - USA Tags: 2024 presidential election, constitutional law
Late Saturday, D.C. District Judge Amy Berman Jackson ruled that President Donald Trump violated federal law in firing Hampton Dellinger, head of the Office of Special Counsel. Jackson’s decision is forceful, well-written, and challengeable under existing precedent. Indeed, it may have just set up an appeal that both presidents and professors have long waited for […]
Spoiling for a Fight: Why the Administration’s Loss Last Night May Be Not Just Expected But Welcomed
05 Mar 2025 Leave a comment
in liberalism, Marxist economics, politics - USA, television, TV shows Tags: 2024 presidential election, 2028 presidential election
In this latest nine-minute comedy/news bit from Bill Maher’s “Real Time,” a show that included Rahm Emanuel and Fareed Zakaria, Maher suggests who the Dems should run for President and Vice-President in 2028. Ths clip, called “New Rule: The next Democratic Star” proffers a solution to the waning popularity of the Democratic Party and the […]
This week’s Bill Maher clip
03 Mar 2025 Leave a comment
in applied price theory, economics of regulation, entrepreneurship, industrial organisation, politics - USA, survivor principle Tags: 2024 presidential election, competition law, merger law enforcement
Under current law, any US companies considering a merger or acquisition that is above $125 million in size must first report it to the government. The most recent data for 2023 says that 1,805 such transactions were reported in 2023, which was a relatively low number for recent years. In 2021 and 2022, for example,…
The 2023 Merger Guidelines Will Remain: What Does That Mean?
02 Mar 2025 Leave a comment
in applied price theory, economics of climate change, energy economics, entrepreneurship, environmental economics, environmentalism, financial economics, global warming, industrial organisation, politics - USA, survivor principle Tags: 2024 presidential election, climate activists, climate alarmism, efficient markets hypothesis, greenwashing
BP’s green pivot has backfired spectacularly, hammering profits and leaving the company vulnerable to a hedge fund siege, writes Jonathan Leake in the Telegraph.
BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
27 Feb 2025 Leave a comment
in fiscal policy, macroeconomics, politics - USA Tags: 2024 presidential election
As the courts hash out the legalities of the orders supporting the Department of Government Efficiency (DOGE), the public appears to support the effort despite the almost universal condemnations in the media. Despite the prediction from James Carville that the Trump Administration will collapse within 30 days, a recent Harvard CAPS/Harris poll shows that most […]
Harvard Polling: Majority Supports DOGE Measures to Reduce the Size of Government
27 Feb 2025 Leave a comment
in economics of bureaucracy, economics of education, economics of information, economics of media and culture, entrepreneurship, financial economics, industrial organisation, law and economics, liberalism, Marxist economics, politics - USA, property rights, Public Choice, rentseeking Tags: 2024 presidential election, free speech, political correctness, regressive left
Below is my column in the Hill on the new American emigres: “disinformation experts” who are finding themselves unemployed with the restoration of free speech protections. Here is the column:
The American Rōnin: How Displaced “Disinformation Experts” Are Seeking New Opportunities in Europe and Academia
27 Feb 2025 Leave a comment
in economics of bureaucracy, law and economics, politics - USA, Public Choice Tags: 2024 presidential election
One of the greatest abuses of the Democratic party in the past eight years has been their use of impeachment investigations and charges against their political opponents. From President Donald Trump to conservative justices, liberal members have demanded impeachments over everything from opposing the NFL kneelers to hanging revolutionary-era flags. Now, some Republican members are […]
No, the GOP Should Not Impeach Federal Judges Over the Trump Challenges
26 Feb 2025 Leave a comment
in applied price theory, comparative institutional analysis, economics of regulation, health economics, politics - USA Tags: 2024 presidential election, drug lags
As a longtime critic of the FDA, you might expect me to support firing FDA employees—not so! My focus has always been on reducing approval time and costs to speed drugs to patients and increase the number of new drugs. Cutting staff is more likely to slow approvals and raise costs. To be fair, we’re […]
Hire Don’t Fire at the FDA
22 Feb 2025 Leave a comment
in economics of crime, law and economics, politics - USA Tags: 2024 presidential election, bribery and corruption
Chris Christie writes: In my seven years as the United States Attorney for the District of New Jersey, we brought 130 cases of political corruption. Though I have been a lifelong Republican, corruption has no party—the cases were against Republicans and Democrats alike. The reason those cases were so important was that it showed citizens […]
Corruption is wrong
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