These days, teaching college economics is as easy as falling off a log. To prep for class, just grab the morning newspaper and head out the door. The day’s lesson probably is among the headlines. Take the U.S. Department of…
Financial reforms include good, bad and ugly
The Bush Administration’s proposals for reforming the nation’s financial sector inspire creativity. In decades of teaching, I have used all sorts of metaphors to explain the Federal Reserve system. But until this week, I never compared the Fed to Billy…
How to decide who is paid for victimization
Government payments to crime victims are becoming more common, at least if the crime made national headlines. For example, Virginia is reported to be offering up to $100,000 to families of those shot at Virginia Tech a year ago. Such…
Tax reform always under pressure from special interests
You can reform government policies, but you cannot guarantee the reforms will stick. After the 1929 crash, government regulation of financial institutions increased for four decades. Then regulation waned for nearly as long. It is pretty clear the cycle once…