My first reaction to Gov. Tim Pawlenty’s plans to use the state’s pension board to retaliate against a drug company was that this is the most cynical act in the history of Minnesota politics. Further reading demonstrated that my initial…
Getting a lock on Social Security
It is hard to find any topic that causes greater confusion than Social Security “trust funds.” Not only are these funds widely misunderstood, but many people also apparently think that they have been deliberately misused since big balances began to…
Everyday risks are hard to pin down
A recent tragedy highlights a knotty microeconomic problem. A 14-year-old boy on a farm errand died in a highway accident. The question is, to what extent laws should govern risky actions parents allow — or direct — children to take.…
Greenspan avoided this road before
Federal Reserve Chairman Alan Greenspan does well to address, at the end of his career, problems that he did not have the guts to take on 21 years ago when he still was campaigning for a major federal appointment. While…