Author Archives: Josh Smith
Beware the Licenses
[This post was originally written for my employer’s blog, Show-Me Daily.] In the very readable Capitalism and Freedom, Nobel laureate economist Milton Friedman wrote about the economic consequences of labor unions, minimum wage laws, and occupational licensing. Anyone with even minor economics training (or perhaps even just a moment’s reflection) can tell you some of … Continue reading
In Defense of St. Louis
[This post was originally written for my employer’s blog, Show-Me Daily.] When I checked out the Post-Dispatch‘s website today, I fully expected the top stories to include President Barack Obama’s visit yesterday. Nope. Instead, I find a story about Brewster McCracken. an Austin, Texas, mayoral candidate, whose ad (available on YouTube) positively slams the city of St. Louis … Continue reading
Not Gaining More, Losing Less
[This post was originally written for my employer’s blog, Show-Me Daily.] According to the Post-Dispatch, some are leveling criticism at MOSERS, a Missouri state employee pension fund, because of bonuses paid to investment staff for their performance while the fund was losing money. The nature of the criticism is obvious, until considered in context. As … Continue reading
Tragic Fire Sheds Light on Economic Lesson
[This post was originally written for my employer’s blog, Show-Me Daily.] In fairness, I would not write about this if I didn’t live just down the street and drive by it nearly every day, but I am sad to report that the Historic Pevely Dairy building suffered a devastating loss to fire on Sunday. I … Continue reading
The First Shall Be Last
[This post was originally written for my employer’s blog, Show-Me Daily.] According to this New York Times article, a number of states were competing for the honor of “first to spend federal stimulus money on infrastructure,” and, by some accounts, Missouri won. Even die-hard free-marketers will likely agree that once the federal government decides to … Continue reading
Governments Should Make Sense, Not Jobs
[This post was originally written for my employer’s blog, Show-Me Daily.] There is a lot of talk at present about job creation. During the Great Depression, the federal government engaged in job creation. Currently, our General Assembly is discussing a bill to promote job creation. Some are frustrated that this bill is not being fast-tracked. … Continue reading
Vote With Your … Votes?
[This post was originally written for my employer’s blog, Show-Me Daily.] Criticizing economic stimulus on a free-market blog is like wearing school colors to the pep rally. Sure it will get you a lot of high-fives, but there’s a risk that people who don’t share your spirit will miss the point. Widespread wealth should be our goal. … Continue reading
Economics Forum 2: Wealth
[This post was originally written for my employer’s blog, Show-Me Daily.] This entry is about wealth. I highly recommend this article (which covers similar topics to this entry, perhaps better). The term “wealth” gets thrown around a lot. Like “public good,” however, economists mean something specific when they talk about wealth. It is not just … Continue reading
Economics Forum 1: Public Goods
[This post was originally written for my employer’s blog, Show-Me Daily.] Todays blog post from me will be the first in what I hope to make a series of open dialogues with the readers of Show-Me Daily on economic topics. Today’s topic is public goods. There are many misconceptions about what constitutes a public good. … Continue reading
No Experience? No Problem!
[This post was originally written for my employer’s blog, Show-Me Daily.] There’s an interesting post on the Freakonomics blog about the computer game SimCity and how it relates to a new web application from the Kansas Department of Transportation. In SimCity, you play the role of the concerned and active government planner, taxing, zoning, and … Continue reading