Get Off the Pendulum: The Trap of Reactionary Thinking

When I was younger, I used to enjoy riding Pharaoh’s Fury at the Coastal Carolina fair. This big sphinx-headed boat swung back and forth on a mechanical arm, terrifying and thrilling the riders, and (in our imaginations) we thought about what it would be like if it went upside down – dumping us all out. This ride is much like how most people and cultures do their thinking about values in politics, religion, and cultural norms. We swing in one direction, then another, then back again.

E-Cigarettes: Media Bury the Lede, We Get to Bury the Bodies

Nearly every national headline on the story emphasizes “vaping-related” illnesses and deaths.  Nearly every first paragraph associates Walmart’s decision with those illnesses and deaths. “Burying the lede” is the journalistic malpractice of failing to mention the most important facts of a story in the first (“lead” or “lede”) paragraph. That’s what’s going on here.

The Fault Is Not in Our Stuff But in Ourselves

Bruce Sacerdote‘s NBER Working Paper, “Fifty Years of Growth in American Consumption, Income, and Wages” provides a nice update on the measurement of CPI Bias.  The punchline should be obvious, but it’s great to hear such an eminent economist say it: “Meaningful growth in consumption for below median income families has occurred even in a prolonged period of increasing income inequality, increasing consumption inequality and a decreasing share of national income accruing to labor.”

Christopher Preble: War Is the Health of the State (54m)

This episode features an interview of U.S. foreign policy academic Christopher Preble from 2015 by Trevor Burrus and Aaron Powell, hosts of the Free Thoughts podcast. They ask whether there exists a single libertarian foreign policy that all libertarians would agree with; talk about the idea that war powers, resolutions, and laws passed during wartime don’t recede in times of peace; give a quick rundown of American military history; and discuss the rise of a permanent private industry supplying the military. When should the United States go to war? When did the American military really start to get massive? How much do we spend on the military today? Relative to recent history? Is the military open to the same kinds of critiques that libertarians make about other government programs?