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Health Care Reform

Well that was a shock. Although, perhaps, not as much of a shock that some people are suggesting. After all during the oral arguments in court Chief Justice Roberts did gently float that tax wheeze he relied upon to support the liberal justices in upholding the law. So we had a hint this might be […]

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Krugman Discovers Theory of the Firm!

Whoa. Did I read that correctly? Paul Krugman just blogged about the Microsoft introduction of it new tablet to compete with Apple’s iPad. He sees it through the prism of the theory of the firm. Unfortunately he cites Oliver Hart’s 1993 article about incomplete contracts and leaves aside comment on why that article became so […]

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Crowding Out – Huh?

One of the enduring myths spread about by opponents of debt financed stimulus is that every dollar borrowed by the government represents one less available for private business. This is called the crowding out of the private sector. Worse, so the story goes, since the government tends to spend its money of things that earn […]

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