New Year’s Day is a traditional time for people to vow to change their behavior. We resolve to lose weight, stop smoking or drinking, spend less or exercise more. Few of us carry out our noble intentions, however. Those who…
Weighing the costs of justice
There are few knottier problems for a society than deciding how much to pay for criminal justice enforcement. The question is difficult because we never frame it in those terms. Instead, criminal justice costs largely are determined by the laws…
Word choice can illuminate or befuddle
Juliet reassured Romeo “that which we call a rose, by any other name would smell as sweet.” But is that also true for economic indicators? If we used different terms, would people view some economic issues differently? Consider one troublesome…
Food scares revive economic debate
Recent incidents of E. coli contamination of spinach and lettuce raise questions about maintaining food safety. Most Americans think this is a necessary function of government. Most economists agree, although some — including a couple of Nobel laureates — do…