“Sweetheart, I think you’re making a terrible decision. However, I am not going to stop you.” “Yay!” That’s from a not-too-long-ago escapade with my daughter, who was about to spend her money on what I honestly thought was dumb. Why, if she was making a mistake, didn’t I stop her? My kids get a weekly […]
Emma Maersk: World’s Largest Cargo Ship
Here’s an interesting documentary on the Emma Maersk, an ultra-large container ship. It’s worth 45 minutes of your time–as you watch, consider just how many people–and how many jurisdictions–are involved in what you see. In the video, Emma Maersk is carrying over 10,000 containers of cargo. Could the captain list a complete inventory of what’s on […]
We Could Do More If We Had More Resources! Who Couldn’t?
Consider how frequently you hear someone in a firm or a bureau complain that they are under-funded and that they need more resources to complete a mission. Should they get a larger budget? I would venture to say “probably not,” though there are certainly exceptions because everyone could say “I can do more of the things […]
Expert Economic Judgment: We Need to Do Better
This morning, I appeared on the Birmingham Business Journal’s 2016 Economic Forecast panel. For a lot of reasons, I’m not confident enough to offer secure predictions beyond that which is reflected in my personal decisions and asset portfolio. I’ve bought in to Birmingham by moving to Southside, I still think stocks are a good investment over […]
It’s Gruesome That An Artist So Handsome Should Care: “This Charming Charlie” Is Awesome
Behold, one of the greatest things on the internet: the “This Charming Charlie” Tumblr, where artist Lauren LoPrete has put lyrics from Smiths and Morrissey songs into the conversation bubbles in “Peanuts” strips. I’m a little late to the party here as this is a few years old, but one of the neatest things about […]
Corporate Power
I suspect you’re not reading this on your Zune. Why not? Because the Zune failed. That the Zune failed in spite of backing by one of the world’s most powerful companies should give us pause when we think about “corporate power.” Products succeed and fail, ultimately, because consumers vote for them or against them with […]
So what is Uber a Substitute *For*?
There was a lot of hubbub about Uber’s entry into Birmingham, and a lot of people in a lot of places worry about what Uber means for “safety” and “good jobs.” There’s a lot of substitution from taxi cabs to Uber—I don’t plan to take a cab ever again, especially after Uber cut prices in […]
House of Cards is “Politics Without Romance”
I’m late to this party: I just recently started watching “House of Cards” on Netflix. As an economist who studies and teaches the economics of political decision making, I find it absolutely captivating. It’s a spectacular example of the public choice tradition, which the Nobel laureate James Buchanan defined as “politics without romance.” After watching […]
Living The Hobbesian Nightmare: The Walking Dead
Life is solitary, poor, nasty, brutish, and short. This is nowhere more clearly in evidence than in the AMC hit The Walking Dead. How well will we do after the zombie apocalypse? Not well, I think—we’re a species that burns cars when a football team loses. If anything, watching The Walking Dead has made me wonder how […]