What Uber and AirBnB Really Sell: Sharing with…
Americans love a garage, but we don’t park cars there. We store old bikes with bent wheels, parts of…
We Have Never Been Austere
Austerity comes from the Greek word “austeros,” connoting harsh, bitter, astringency. The first…
Playing Chicken with the Federal Budget: The Rational…
“Chicken” is a game where two people, or two groups, want different things, in a context where “I…
Peak Population: Prepare for a Shrinking World
Earth is going to hit “peak population” before the end of this century. Within 25 years, most of the…
Burger Chef and the McDonald’s Happy Meal: A Case…
Joseph Schumpeter famously said that creative destruction is the “essential fact about capitalism.”…
My Disagreement with John Tamny on SALT Deductions
In a recent essay, John Tamny, at RealClearMarkets got rather SALTy. Worth reading. John (whom I…
The Penny Problem Has a Third Option: Buy Them Back…
Adam Smith recognized the importance of the “make or buy” decision. It is the maxim of every…
SALT in the Wound: How Tax Deductions Reward Fiscal…
On May 22, Donald Trump celebrated the House’s passage of HR1 , proclaiming THE ONE, BIG, BEAUTIFUL…
How Interest Rates Set Asset Prices: One Weird Trick
What determines the price of a stock, bond, or other income-producing asset? Interest rates play a…
Inside US Air Traffic Control: Conflicts of Interest…
Milton Friedman famously recognized that policy change only happens in crises: Only a crisis —…
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