We Are Lucky to Live Here! Let’s welcome the 55+ to Gateway Village. Sunday morning I biked into Bozeman to meet a couple for brunch. During the 14-mile ride in, several lycra clad male riders easily and silently passed me. (I passed no one.) In town three walkers smiled and volunteered, “Aren’t we lucky to […]
Read MoreIn her report on Judge Holly Brown’s dismissal of a challenge to the Department of Fish, Wildlife & Parks agreement with Ted Turner on the management of Yellowstone Park bison (May 12, 2013), the Chronicle article states the following: “Under the public trust doctrine, which applies nationwide, the state has the responsibility to manage and […]
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Armen Alchian never won a Nobel Prize in economics. But no less than Friedrich Hayek said he ‘deserved’ one. In 1975, I attended a week-long conference in Connecticut at which the star attraction was Friedrich Hayek. Hayek, who had shared the 1974 Nobel Prize in economics with Swedish economist Gunnar Myrdal, was doing a kind […]
Read MoreMaui and Montana Ramona and I just returned from an academic meeting in Maui. We found new confirmation that economics is really a sub-set of behavioral ecology (or evolutionary biology if you prefer). Here’s an example. After an all night flight, we awoke at our ranch this morning with 3″ of snow and a large […]
Read MoreIn the now classic The Logic of Collective Action: Public Goods and the Theory of Groups (1965) the author Mancur Olson wrote: “(O)nly a separate and ‘selective’ incentive will stimulate a rational individual in a latent group to act in a group-oriented way”; that is, members of a large group will not act in the […]
Read MoreMilton Friedman is one of my all time favorite economists, Tom Schelling another. Both won Nobel prizes and each contributed greatly to my understanding of how the world works. I knew Milton and Rose longer but Tom and Alice much better. While we live geographically far apart and the Friedman’s are gone, the Schelling’s remain […]
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Anyone who pays even passing attention to American politics is familiar with the map (Figure 1) of the United States showing states in which a majority of voters favored President Obama (colored blue) and those where Romney garnered the most votes (in red). This map conveys three dominant messages: first, that states can be meaningfully […]
Read MoreThis FREE Insight is a warm recommendation of a book by WWII veteran Warren R. Higgins, The Wednesday Pen. His daughter, Ris Higgins, is a Bozeman friend. She lovingly edited this volume and it was just published by Brown books of Dallas, Texas. This is a most unusual book. It’s a collection of letters, one […]
Read MoreIntroduction by Dr. John Baden, Chairman, FREE Most contentious issues of public policy are nuanced and highly complex while carrying heavy emotional baggage. These ingredients foster error and acrimony. Intelligent people of good will, even those sharing similar values, can strongly disagree on policy prescriptions. This situation produces strong temptations to discredit and denigrate policy opponents. These characteristics are […]
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Introduced by Dr. John Baden, Chairman, FREE The first FREE Insight of 2013, “The Real Cliff”, is by Christopher DeMuth and was in The Weekly Standard on December 24, 2012. Chris explains the political logic that generated America’s huge debt and recurrent, soon to be replicated, trillion plus dollar deficits. He warns us that debt […]
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