Whenever a call comes in before 6:00 a.m., I know that it is either a death in the family or an ordinary business call from my brother-in-law, Rich. Rich is a dairy farmer and likes to get business out of…
Weigh costs of environmental, health measures against benefits
I’m no toxicologist, and I didn’t vote for him, but George W. Bush is getting a bum rap on his administration’s decision to put the kibosh on the new the10 parts-per-billion (ppb) limit on arsenic in drinking water. Take the…
Economist’s uncommon sense is key to solving energy problems
President Bush says that we are in an energy crisis. Apparently he bases his diagnosis on gasoline prices that are higher than ever (unadjusted for inflation) and on California’s electricity problems. I am not sure that these problems constitute a…
Reports of world events provide valuable instruction in economics
As someone who has taught introductory economics over the years, I always appreciate some educational help from the news media. Stories about macroeconomics filled the media this past week. Let me show you how I would use recent stories to…