Gouge Is Good

If you’ve bought anything in the past six weeks, you’ve seen shortages.  In grocery stores, you’ve see empty shelves.  Online, you’ve seen long waits. If you know econ 101, there’s an obvious explanation: price-gouging laws.  When supply falls, the market’s normal reaction is to raise prices.  Government’s reaction, however, is to paint the market’s normal reaction as vicious exploitation – and order prices to stay flat despite reduced supply.  Shortages inevitably result. While this story has great merit, you don’t have to look closely to realize that it’s not the full story of shortages.  Why not? 

Whither the Precautionary Principle?

Over the last half century or so, regulators and activists have regularly invoked the precautionary principle versus industrial and commercial concerns: Will this new car wash ruin the nesting grounds of the Great Purple-Crested Bandersnatch? Could construction of that pipeline conceivably pollute a river? Might the noise from a proposed refinery disturb the sleep of some nearby Mrs. Nimby? Then came COVID-19.

Harvard Magazine Calls for a “Presumptive Ban” on Homeschooling: Here Are 5 Things It Got Wrong

As a Harvard alum, longtime donor, education researcher, and homeschooling mother of four children in Cambridge, Massachusetts, I was shocked to read the article, “The Risks of Homeschooling,” by Erin O’Donnell in Harvard Magazine’s new May-June 2020 issue. Aside from its biting, one-sided portrayal of homeschooling families that mischaracterizes the vast majority of today’s homeschoolers, it is filled with misinformation and incorrect data. Here are five key points that challenge the article’s primary claim that the alleged “risks for children—and society—in homeschooling” necessitate a “presumptive ban on the practice”.