I am writing this on March 17, but by the time you read it, the world will have changed. It is changing by the hour. One week ago, the college where I work shut down. It has been a rather chaotic week, to say the least. But, before this crisis morphs into whatever it will become, it is worth recording a couple of observations. First, the details. I am a professor of economics at Mount Holyoke College. Last Monday (March 9) at 3:45 pm, the college sent out an announcement restricting travel … [Read more...] about Coronavirus and Shutdowns
Modern Society
The Cursed Lust for Gold
Gold is once again all the rage. Actually, come to think of it, it is hard to remember when gold wasn’t all the rage. Virgil talks about “the cursed lust for gold.” And let us not forget King Midas (or his most unfortunate daughter). Why gold? Sure it is a shiny pliant metal, useful for making flashy jewelry. But, that isn’t enough to explain why coronavirus fears would send the price of an ounce of gold skyrocketing—surely you don’t think there has suddenly been a big increase in the … [Read more...] about The Cursed Lust for Gold
Nationalists vs Globalists vs Tribalists
The Virtue of Nationalism by Yoram Hazony was the book of the moment after it came out. It even won an award for being the Best Conservative Book of the Year! So, it must be good, right? Obviously if you are a liberal, you might not like or agree with Hazony’s argument, but the book at least must be a good book, right? If you look at the title and the cover blurb and Hazony’s shorter essays, it is not hard to see why conservatives loved this book. Hazony sets up the contrast between the … [Read more...] about Nationalists vs Globalists vs Tribalists
Is Economic Analysis Just a Weapon in Public Policy Wars?
How Public Policy Became War, a recent book by David Davenport and Gordon Lloyd, documents one of the reasons why political debate has degenerated over the last few decades. Faced with a problem—any problem—the political instinct is now to declare war. Presidents of both political parties have declared wars on crime, drugs, poverty, and terrorism. Davenport and Lloyd note: At first blush, one might think that declaring war on intransigent problems such as poverty or crime would be a … [Read more...] about Is Economic Analysis Just a Weapon in Public Policy Wars?
Bitcoins, Libra, and Your Google Checking Account
There is a surprising amount of anxiety about money these days. The anxiety started with the mysterious Bitcoin; its promised anonymity rapidly made it the currency of choice for illicit activities, and its wild price fluctuations made it the asset of choice for risk-takers. Then came Facebook’s announcement that it would create a new currency, the Libra, which induced night terrors of Mark Zuckerberg’s knowing not only everything you put on his portal, but also how you spend. … [Read more...] about Bitcoins, Libra, and Your Google Checking Account
Too Good For His Own Good
DC Comics has of late received a well-deserved reputation for making some very bad superhero movies. It’s not entirely their fault. Who is the greatest DC Superhero? You only have two choices: Batman or Superman. You probably picked Batman. And there is the problem. We can call it the Superman problem. Superman is, to put it mildly, a bit overpowered. He has extraordinary strength, can fly really really fast (not just faster than a speeding bullet—faster than light), has impermeable skin, … [Read more...] about Too Good For His Own Good