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Monthly Archives: September 2010

A few weeks ago I spotted this news article in the Houma Courier that nicely demonstrates the law of supply, that price increases encourage suppliers to increase production. Earlier this year, a drought in Russia destroyed about a third of their wheat crop and led the Russian government to stop exports of wheat. The price […]

People are uncharitable even in their “charitable actions.” As a case in point, consider the charities featured on www.thehungersite.com. Three are concerned with addressing problems that are strongly related to poverty (i.e., those addressing hunger, child health, and literacy). Two are concerned with problems that can have a direct influence on middle-to-high income individuals (i.e., […]

In my previous post, I discussed why the political design of the stimulus package was doomed to inefficiency in producing jobs, because it was designed to help the re-election efforts of politicians by bringing home the bacon instead of being designed to reduce unemployment. There is, of course, another way in which the stimulus spending […]

Vice President Joe Biden has recently been touting the amazing performance of stimulus package in bringing us back from the brink of economic disaster (CBS News). In speaking at The Brookings Institution, Biden said “But the fact that the recovery act is multifaceted doesn’t reflect a lack of design, it is the design.” The spending […]

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