The Latest from Cafe Hayek <http://www.cafehayek.com/hayek/> <http://fusion.google.com/add?source=atgs&feedurl=http://feeds.feedburner.com/CafeHayek> ------------------------------
- On America's Middle Class (by Don Boudreaux) <#12240482aa0c6ac7_1> - The Psychology of Climate Change and Intervention (by Don Boudreaux)<#12240482aa0c6ac7_2> - Unintended Consequences (by Don Boudreaux) <#12240482aa0c6ac7_3> On America's Middle Class (by Don Boudreaux)<http://www.cafehayek.com/hayek/2009/07/on-americas-middle-class.html> Posted: 02 Jul 2009 02:09 PM PDT In two of his *Forbes* columns, NYU's Thomas Cooley challenges - with data - the widespread misunderstanding that America's middle-class is disappearing. Here<http://www.forbes.com/2009/06/02/middle-class-income-inequality-technology-opinions-columnists-taxes.html>, and then here<http://www.forbes.com/2009/06/30/middle-class-income-inequality-consumers-opinions-columnists-cooley.html> . (HT Greg Mankiw <http://gregmankiw.blogspot.com/>) The Terry Fitzgerald work that Cooley mentions was mentioned here at the Cafe a while back<http://www.cafehayek.com/hayek/2008/10/ordinary-americ.html> . I raise, though, one objection to Cooley's otherwise excellent columns. In the first one linked to above, he credits technological change for the explosive economic growth of the 1980s and 1990s. I don't accept technology as an explanation. A rush of technology has causes; it must be explained. Technology is not a variable exogenous to economic growth. <http://feeds.feedburner.com/%7Eff/CafeHayek?a=2tFwFxBClNw:wt-87LTtV1I:yIl2AUoC8zA> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=2tFwFxBClNw:wt-87LTtV1I:dnMXMwOfBR0> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=2tFwFxBClNw:wt-87LTtV1I:F7zBnMyn0Lo> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=2tFwFxBClNw:wt-87LTtV1I:V_sGLiPBpWU> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=2tFwFxBClNw:wt-87LTtV1I:gIN9vFwOqvQ> The Psychology of Climate Change and Intervention (by Don Boudreaux)<http://www.cafehayek.com/hayek/2009/07/kristof-is-right-and-wrong-on-climatechange-policy.html> Posted: 02 Jul 2009 06:34 AM PDT Writing in today's *New York Times*, Nicholas Kristof argues<http://www.nytimes.com/2009/07/02/opinion/02kristof.html?ref=opinion>that we're not as frightened of climate change as science counsels that we should be, and that our fear's inadequacy is rooted in our evolutionary past. We are, Kristof correctly says, evolved to fear immediate, visible threats and not so much those threats - such as climate change - that are more distant, more speculative, and less visible. Contrary to Kristof's conclusion, though, this fact doesn't necessarily justify climate-change regulation. The same evolved structure of our brains that causes us to discount relatively distant and speculative climate-change effects also causes us to discount relatively distant and speculative economic effects. So this economist, trained to see the invisible hand, points out that too many people are insufficiently aware of - and, hence, insufficiently fearful of - those relatively distant and invisible threats posed to a healthy economy by government regulation. <http://feeds.feedburner.com/%7Eff/CafeHayek?a=LxRIVphm3D8:DoQeLhDZT8c:yIl2AUoC8zA> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=LxRIVphm3D8:DoQeLhDZT8c:dnMXMwOfBR0> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=LxRIVphm3D8:DoQeLhDZT8c:F7zBnMyn0Lo> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=LxRIVphm3D8:DoQeLhDZT8c:V_sGLiPBpWU> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=LxRIVphm3D8:DoQeLhDZT8c:gIN9vFwOqvQ> Unintended Consequences (by Don Boudreaux)<http://www.cafehayek.com/hayek/2009/07/unintended-consequences.html> Posted: 02 Jul 2009 06:18 AM PDT Here' my answer to my pop quiz<http://www.cafehayek.com/hayek/2009/07/tired-protectionism.html>; it's in the form of a letter-to-the-editor that I sent yesterday to the *Washington Post*: You report that the "International Trade Commission recommended on Monday that President Barack Obama impose additional duties for three years on imports of low-cost Chinese tires the panel says are harming U.S. industry" ("U.S. trade panel favors stiffer duties on Chinese tires<http://www.washingtonpost.com/wp-dyn/content/article/2009/06/29/AR2009062902307.html>," June 29). Such a move by Mr. Obama would not save U.S. jobs on net, because fewer dollars spent on imports means fewer dollars that foreigners have to spend on U.S. exports or to invest in the U.S. More importantly, in this case higher duties would actually kill people. Higher duties mean higher tire prices, and higher tire prices will prompt many motorists to ride longer than otherwise on tires that are threadbare. Because riding on older tires is more dangerous than riding on new tires, Mr. Obama will have blood on his hands if he accepts the I.T.C.'s recommendation to stiffen duties on low-cost tires. Sincerely, Donald J. Boudreaux Thanks to all of you who answered the quiz in the comments section of my previous post (or in e-mails to me), and congrats to the many of you who earned A+. <http://feeds.feedburner.com/%7Eff/CafeHayek?a=3pXkOrgLVpY:ssupmObIUEk:yIl2AUoC8zA> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=3pXkOrgLVpY:ssupmObIUEk:dnMXMwOfBR0> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=3pXkOrgLVpY:ssupmObIUEk:F7zBnMyn0Lo> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=3pXkOrgLVpY:ssupmObIUEk:V_sGLiPBpWU> <http://feeds.feedburner.com/%7Eff/CafeHayek?a=3pXkOrgLVpY:ssupmObIUEk:gIN9vFwOqvQ> You are subscribed to email updates from Cafe Hayek<http://www.cafehayek.com/hayek/> To stop receiving these emails, you may unsubscribe now<http://feedburner.google.com/fb/a/mailunsubscribe?k=RD87GWo2xMyNcdDv2g6ct6FC7Lk> .Email delivery powered by Google Google Inc., 20 West Kinzie, Chicago IL USA 60610 --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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