President Barack Obama’s nomination of Judge Sonia Sotomayor to the Supreme Court raises the question of whether a person’s life experience should influence how she or he analyzes particular issues. An economist has no particular standing to comment on qualifications…
For good policy, Fed execs needs to ‘fess up
Since the wheels started coming off the wagon of the U.S. financial markets in June 2007, when Bear Stearns allowed two hedge funds it managed go broke after losses on mortgage-backed securities, Federal Reserve economists have taken a curious stance.…
Not all sin taxes are equal in benefits to society
Increasing taxes on alcoholic beverages would improve the efficiency of the U.S. economy, at least marginally. Increases in taxes on tobacco or a new tax on sweetened soft drinks would not. Whether that assessment influences debate at the national level,…
Leaders need incentives to do good
Once again, Minnesota’s governor and Legislature seem deadlocked on budget issues. This is a perennial problem, but the stakes are particularly high as the state faces a very large budget shortfall. Moreover, this is against a backdrop of the worst…