Many of my friends are worried about their future and that of our nation. This is surely understandable. Jobs are insecure, retirement funds are dissipating, and our governments are poised to become significantly more intrusive and constraining. As a result of these obvious problems, many fear that American policies are moving us toward the European […]
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The fallout from global economic recession ripples through Montana. In addition to unsettling lives, the economic downturn has important consequences for Montana’s energy policies. Here are some. Governor Schweitzer hopes Montana can be a leading producer of synthetic fuels, and he’s advocated for the construction of a 22,000 barrel-per-day coal to liquid plant near Roundup. […]
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Exit interviews are normally comprised of questions posed to employees who leave an organization. It’s hard and expensive to replace good workers, and the causes of departure may need to be remedied. I believe exit interviews could be useful in another context; they could be given to contributors who terminate or reduce support for an […]
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Over the past year we’ve made several modest improvement on our ranch. Hence, I’ve had the pleasure of observing and sometimes working with men who move and manipulate the concrete furniture of the world. They use machinery and tools to mold solid and liquid material into useful and pleasing products of long life. Their activities […]
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With Bozeman’s boom fading or gone, focus turns to the likely impact of the stimulus upon employment. Naturally, some recall FDR’s Works Progress Administration (WPA) of 1935. This was one of many New Deal programs known by their letters and widely appreciated for their results. We still benefit from Forest Service trails and structures constructed […]
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The version of the economic stimulus bill lumbering through Congress contains a pernicious provision barring foreign steel and iron from infrastructure projects and requiring that all such projects use only American-made equipment and goods. Steel and iron manufacturers and labor unions no doubt promote these “Buy American” provisions. But can they explain how banning inexpensive, […]
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“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” -F.A. Hayek, The Fatal Conceit On a family trip to Nicaragua we saw workers digging a multi-mile ditch in preparation for laying communication lines. The workers were using picks and shovels; we saw […]
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I’m hopeful about this holiday season. Specifically, I hope we learn that the things economists measure best are not what matter most. Thoughtful people will understand that good friendships and the warmth that comes from helping the unfortunate are more satisfying than transitory fruits of wealth. This Christmas season is quite different from those of […]
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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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