CPI Bias and Happiness

CPI Bias is alive and well, so we’re materially much better off than we think.  “There is no Great Stagnation” – say it non-ironically, as you should. On reflection, however, there is a shocking implication.  Happiness researchers – yes, even Justin Wolfers! – have almost uniformly found little effect of income on happiness.  If official statistics understate real income growth, what should we conclude?

Trump and Netanyahu: “Mutual Defense” or Just Mutual Political Back-Scratching?

On September 14, US president Donald Trump tweeted (of course) the suggestion of a US-Israel “Mutual Defense Treaty,” citing a call with Israeli prime minister Benjamin Netanyahu. Hopefully there’s less going on here than meets the eye: The tweet may just be another mutual publicity back-scratch of the type Trump and Netanyahu frequently exchange when they find themselves in political pickles. And Netanyahu is likely in the biggest such pickle of his career.

Customer Service as a Way of Life

I’m sitting in a lab lobby waiting to get blood drawn. The receptionist is one of the rudest people I’ve ever overheard. Every time someone checks in, every word she says is edgy and nasty and she seems to have no tone except one that makes people feel like idiots. It was like this last time I came here too. I don’t know what’s going on in her life or why this business allows her to keep her job, but it got me thinking about customer service. How is it learned?

Great Tools for Teaching Kids Economics and Liberty

Whenever my children express an interest in economics or are curious about the ideals of freedom and responsibility, I can barely contain my excitement. It wasn’t until college that I discovered, and fell in love with, economics, and it wasn’t until much later that I understood liberty as a life philosophy. Fortunately, I can avoid stifling their budding interest by drawing demand curves or quoting Hayek and Hazlitt (though I’ve been known to do both!) and turn to some outstanding resources just for kids. Designed to introduce economic principles and the foundations of a free society to young children, these tools are interesting, engaging, and easy-to-understand—for children and adults alike!