Unless deliberately randomized, as in drawings for moose permits or draft lottery numbers in the 1970s, decisions are based on information and incentives. It follows that to change behavior, people’s information and the incentives to act on that information must change. Little else, surely not professed concern, will suffice. Well-intentioned people who ignore or discount […]
Read More
The faculty of Montana State University, by far the most visible and significant employer in our area, is considering a vote to unionize. I’ve been asked two probing questions. First, why would professors, generally “liberals” and among the most fortunate individuals in Montana, organize to extract more money from citizens of one of the poorest […]
Read More
This column flows from Elliot Spitzer’s crash landing. The important lesson is not inappropriate sex, but rather Spitzer’s abuse and exploitation of political power for career advancement. It took a sex scandal to awaken citizens to the harm and misery he illegally and unethically produced. Surprise lies only in his sexual stupidity. Spitzer’s abuse of […]
Read More
Many small towns throughout our region peaked in 1917 and most have declined ever since. Such economic factors as resource depletion, mines played out, and the worldwide agricultural depression of 1919 drove these declines. Further, economies of scale encouraged larger farms and ranches as mechanical replaced muscle power. Concurrently, with superior cars and trucks running […]
Read More
The admonition “don’t burn your bridges” warns against rash behavior that makes retreat impossible. Nobel economist Tom Schelling argues that to the Roman army burning bridges, or boats, was actually an effective military strategy. By making retreat impossible, the generals signaled their choice to conquer or be killed. This concentrates the minds of friends and […]
Read More
A friend recently passed on a chain letter urging independence from Middle Eastern oil. It’s a seductive idea. Here’s the gist: “Every time you fill up the car, you can avoid putting more money into the coffers of Saudi Arabia. Just buy from gas companies that don’t import their oil from the Saudis. Nothing is […]
Read More
This January I’ve had the luxury of previewing retirement. It was not, however, what I hoped for, no skiing or even driving off our place. Being allergic to TV, I spent time reading, writing, and listening to more NPR than ever before. This experience broadened my perspective on winter. Consider this introduction to an “All […]
Read More
Will Tata Motors’ Nano be the Third World’s Model T Ford? Sixteen million Ts were produced during its 20-year lifespan from 1908 through 1927. It initially sold for $850, about $15,000 in today’s dollars. By 1915, due to the advantages of mass production, the price dropped to $440. It had a 2.9-liter engine, ran on […]
Read More
On January 7th, the Sheriff’s Office Report in the Bozeman Daily Chronicle noted, “A man fell from his roof on Cottonwood Road while trying to reattach roofing that had blown loose in the wind.” The last thing I remember, before becoming semi-awake in the American Medical Response ambulance, was reaching to sink the last roofing […]
Read More
Many smart and well-intentioned people fault government for its injustices and inefficiencies. Because there are few incentives to economize, and many to mislead, waste and moral corruption are endemic to and inherent in political management. No nation has found a way in practice, or in principle, to foster efficiency and equity when decisions are make […]
Read More