Where I grew up in the Midwest, cars were keys. Owning one marked maturity and provided a passport to liberty. All of my friends had cars and I had some pickups, my first a 1931 Model A Ford for which I paid $35 drove 100 miles home. Presaging future problems, the first Volkswagen had just […]
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Controversy over the location and operation of gravel pits illustrates an exceedingly important, widely neglected, and oft misunderstood principle of economics: clear and enforceable property rights minimize conflict. Their absence or ambiguity fosters all manner of negative feelings and behavior, sometimes even violence. The Indian Wars of the 1800s, Israeli-Palestinian conflicts over settlements, and the […]
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Have you noticed the huge new billboards on U.S. 191, a major gateway to Yellowstone Park? They seem to be sprouting like mushrooms after a spring rain, but the probable cause is different. I suspect this furor anticipates regulatory control on more billboards. It is certainly not due to increased traffic and, hence, more viewers. […]
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Only a few years ago there was substantial talk of a permanent Republican majority. Through the workings of demographic, economic, cultural, and religious forces, the GOP was to become the powerful, controlling institution in Washington, DC and most states. While a few redistributive, “progressive”, secular, archipelagoes would persist in the Northeast and West Coast, America […]
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In response to my recent column, “What Went Wrong,” several people emailed me this question: What’s next? The answer is easy; America will attempt to emulate Europe’s welfare state. Our perceived crisis is inimical to sound policy and provides a good seedbed for political opportunism. First, though, a positive note. America can congratulate itself on […]
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Americans born in the post WWII period quite naturally believe ever increasing wealth is normal⎯for it has been. And most economists assume that due to the complementary forces of technology and productivity, wealth and wellbeing are on a continuously upward trajectory. If we’ll grow ever richer, why sacrifice for wealthier descendents? Perhaps economists are correct […]
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This column was prompted by the question: “Doesn’t today’s economic distress demolish the case for capitalism and free markets?” Some, who inquired gleefully, anticipated my discomfort; others were genuinely curious and concerned. All were confused about the complex causes of our economic chaos. I hope this helps clarify their thinking, but first a disclaimer: I’m […]
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The conflict over listing or delisting wolves places the Endangered Species Act (ESA) back in the news. By their nature, nearly all environmental issues are contentious and problematic, ESA decisions especially so. Scientifically complex questions and classifications, unequally distributed costs and benefits, and heavy emotional baggage are ingredients for error, sanctimony, and acrimony. I find […]
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The best predictor of switching to a bike for commuting around town is no doubt a DUI. The next best is probably a high PPG, or price per gallon. Naturally, as gas hit and then surpassed $4.00 this summer, the number of bikes on Bozeman streets appeared to increase substantially. This reflects a national trend. […]
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The Bozeman area is an excellent site to study entrepreneurship. Right Now Technology and Zoot exemplify commercial entrepreneurial success. Their founders envision new products and develop markets for them. They are among the few who succeed; competition relentlessly filters dreams with reality checks. Social entrepreneurs identify a purpose not served by the commercial sector. Local […]
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