Our nation’s financial sector reportedly is shrinking. That is a good thing, even if many of the reports in the financial press have a mournful tone. In the go-go years leading up to 2007, we let the cart of finance…
Preserving the past can be too costly
As a former history major and lifelong history buff, I love old things. But preserving old things uses up economic resources. So not every old thing is worth saving. When that issue enters the public sphere, things get knotty and…
Limiting public liability makes sense; here’s why
The Fifth Circuit Court of Appeals returned a measure of economic sanity to the loony world of tort liability with the ruling that federal government, acting through the U.S. Army Corps of Engineers, cannot be held liable for damages in…
Income redistribution is popular in practice
“Income redistribution” is more popular than many think. Just as for “entitlement,” the term “income redistribution” has taken on a pejorative meaning. But both entitlements and income redistribution are popular with most people, as long as they themselves are the…