Widespread outrage about how the government bailout of AIG is playing out shows we need laws giving the Federal Reserve and U.S. Treasury clearer powers and duties when they provide money to large financial institutions that would otherwise go bankrupt.…
Mining’s “external costs” hard to calculate
With plans for a large copper-nickel mine on Minnesota’s Iron Range under way, the issue of how to deal with ‘external costs’ is worth considering. When producing something creates external costs — ones that fall on neither the producer selling…
In breeding, as in investment, selection carefully
Sometimes, what seems like the obvious best choice can end up having perverse effects, whether the selection happens on the farm or on Wall Street. The problem comes when bad criteria are used for selection. Let’s start with a farm…
State is ducking long-term look at budget
Facing a nearly $5 billion budget deficit meets the criteria of being up to your buttocks in alligators. As you know, when you are up to your butt in alligators, it is hard to remember that what you are trying…