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The Point of an Economy

From Deirdre McCloskey in Reason Magazine, The Myth of Technological Unemployment When a Ford plant installed robots, Walter Reuther, a long-ago president of the United Auto Workers union, is said to have asked a manager: “How are you going to get them to buy...

Observations from the Road

I just completed a 600 mile drive from Bloomington, Indiana after visiting with my daughter at IU for her birthday.  Some thoughts on the ride home: America is obese.  As a rule I pick a restaurant by looking at the patrons and thinking if I want to look like them in...

Bailout Backlash

It was easy to predict that the Cash for Clunkers would only drive up sales very temporarily as the expense of future sales.  Recent results have verified the sharp dropoff in auto sales when the program ended. It was also easy to predict a backlash from consumers...