by Irwin Collier, Economics in the Rearview Mirror, June 7, 2016.
Excerpt from Friedman’s letter:
Of the people you list as possible visiting professors during Koopman’s absence, Solow from MIT casually appeals to me the most. I have almost no doubt about his absolute competence: I read his dissertation early on and saw something of him last summer and the summer before that when he spent some time in Hanover on some Bill Madow project. He has a pioneering mind and analytical skills of a very high level. My only question would be the other one you raise: whether he is sufficiently interested in economics. And here I’m inclined to answer with an uncertain yes, based in part on the fact that he is flexible and capable of being induced. I do not know Dorfman from California personally or through his writings. My question about him is that I think we would do best if we could use this opportunity in general to bring in someone who has a very different point of view and who will broaden the kinds of things that are covered by denominator of mathematical economics is done. , and my impression is that Dorfman is largely in the same line as Koopmans – but here too I do not have much confidence in my knowledge. As you know, I think highly of both Modigliani and Christ, but at this point I would prefer Solow for this particular spot, partly on the grounds of greater product differentiation.
DRH comment: This is so interesting in light of the fact that Solow later almost seems to have hated Friedman.
by Jason Furman, Peterson Institute for International Economics, September 11, 2024.
Let me quickly go over some aspects of it. First, trade and globalization more broadly at the global level have contributed to an incredibly rapid, massive reduction in inequality. When you look at the inequality between all the people in the world, you erase national boundaries and wonder how much inequality there is among 8 billion people? If you look at Branco Milanovic’s numbers, the entire increase in inequality between the years 1900 and 2000 disappeared between 2000 and around 2020. In a quarter century of hyper-globalization, a century’s increase in global inequality has been erased.
Second, the question you want to ask is probably not: is inequality increasing, but what is happening to the living standards of the middle class and the poor? If Trade helps everyone, but some people more than others. That may be regrettable to some extent, but you probably wouldn’t want to prevent this from happening. I believe that much trading has been of this nature, especially when you take into account the enormous and progressive gains from trading on the consumer side that I discussed earlier.
by Edward Hasbrouck, Responsible statesmanshipOctober 7, 2024.
Extract:
Among U.S. men turning 18 in 2023, fewer than 40% signed up for the draft — down from more than 60% in 2020 before the start of the war in Ukraine.
DRH comment: Finally something Good news.
by C. Jarrett Dieterle, RodeOctober 12, 2024.
Extract:
Rhiannon Deschaine of Kenduskeag, Maine started making and sell meals from her home-based business, Kenduskeag Kitchen, in April 2022, sourcing many ingredients from the family garden or neighbors. In July 2022, an official from the Maine Department of Health and Human Services stopped by Deschaine’s home to behavior an unannounced inspection. Although the inspector found nothing unsanitary or problematic about Deschaine’s food preparation or meals, Deschaine was informed that Kenduskeag Kitchen would need a “food business license” to operate, which in turn would require her to install a full commercial kitchen in her home.
An enforcement letter followed in October 2022, and in December 2022, Deschaine closed Kenduskeag Kitchen due to possible fines and enforcement actions. The closing of a business like Kenduskeag Kitchen is especially ironic in Maine, a state that recently occurred past a Food Sovereignty Act and enshrined the right to food in the constitution.