Search for: "Mike Rappaport"
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2 Jul 2010, 2:58 pm
I have neglected to discuss what I regard as one of, if not the best explanation of the financial crisis: Russ Roberts's creditor bailout story. The article is here; the podcast is here. Definitely worth it. The short story is as follows: why did investment banks and others take these very significant risks? Two explanations. First, the creditors who lent money to the investment banks, those banks being highly leveraged, did so because they reasonably expected to be fully bailed out. Roberts… [read post]
25 Apr 2010, 2:49 pm
With the passage of the Arizona law directed at illegal aliens, there has been some discussion as to whether a state can act in the area of immigration and aliens. While there have been some Supreme Court cases that suggest that this might be in certain respects an area of exclusive or predominant federal concern, I want to discuss the original meaning of the Constitution as to these matters. The constitutional text suggests a far different arrangement. Far from suggesting an area of exclusive or… [read post]
30 Mar 2010, 12:30 am
because it does not enforce the individual mandate? Based on past experience, I can guess that some of our readers may ask, why is this more evil than enforcing the individual mandate? The reason is that it makes it more likely that private insurance will fall apart, as individuals who develop diseases purchase insurance for the first time at that point. This is a system that creates a bonanza for adverse selection, a supposed reason for health care regulation. The more I read about the healt care… [read post]
25 Jan 2010, 12:38 am
Science marches on, as a dating site analyzes the data and explodes some myths. It is a fascinating post that confirms some of the conventional wisdom but refutes other parts of it. One of their findings: while women should make eye contact and either smile or flirt in the picture, men should not make eye contact, and don't need to smile. [read post]
18 Dec 2009, 12:09 am
My view is that we should not allow any bank that is too big to fail. That suggests breaking up the existing big banks. The harder question is what one does about a smaller bank that grows. We should not allow banks to merge into banks that are larger than the limit, but when they just grow through successful business, that is a harder matter. (Perhaps, one would just require that they have larger, perhaps much larger, capital requirements as they grow.) Arnold Kling makes the argument here in these… [read post]
1 Dec 2008, 8:01 am
Ilya Somin, over at the Volokh Conspiracy, recently argued that the judicial decisions establishing gay marriage under state constitutions had furthered the cause of gay marriage. He disagreed with those who believe the judicial decisions have not helped gay marriage in part due to a backlash that has led to a large number of state constitutional prohibitions on gay marriage. Somin makes two main points. First, in states where gay marriage lost in ballot initiatives, there… [read post]
3 Oct 2007, 3:16 pm
Apparently not: For example, one Econ Journal Watch study found a 5.1 to 1 ratio between contributors to the Democratic versus Republican party among a sample of 2,000 members of the AEA. Klein found similar lopsidedness in the authors and editors of journals (including the Journal of Economic Literature) and even within the groups of people listed in authors' acknowledgments in journal articles. [read post]
28 Aug 2007, 5:16 pm
Dale Carpenter over at the Conspiracy reads the arrest report and analyzes the situation. [read post]
1 Apr 2007, 11:02 pm
Suppose that you were asked whether to recommend publication of a book that would become a classic? Would you recognize it or give it a thumbs down? Here are two readers reports on whether the University of Chicago Press should publish the Road to Serfdom from 1943. Frank Knight, a famous economist who I have never been able to appreciate (Tom, I believe, likes him) panned the book, writing: In sum, the book is an able piece of work, but limited in scope and somewhat… [read post]
9 Aug 2007, 11:30 am
But Burris -- unlike, say, fellow law prof and ex-Sloviter clerk Mike Rappaport -- takes issue with the [read post]
16 Jun 2015, 9:05 pm
present-day decay of juries [Volokh Conspiracy, introduction, parts one, two, three, four, five] Related: Mike [read post]
11 May 2020, 3:17 am
[Mike Rappaport and followup post, both 2018] And now for something completely different: “Ayn [read post]
14 Jan 2011, 4:23 pm
One of my favorite stories each year is the publication of the Index of Economic Freedom. Unfortunately, this year the story is, for America at least, a sad (but not unexpected) one. America has declined to number 9. It is now not only three spots below Canada, but is below Denmark! We can thank Obama, Pelosi, and Reid for that, but also Bush, Paulson, and Bernanke. Of course, the Bush Three at least have the excuse of attempting to respond to an economic crisis. The Obama Three cannot use that to… [read post]
28 Mar 2010, 1:43 pm
An interesting question that Glenn Reynolds addresses in a short post well worth reading: Glenn wonders whether it is because Obama hates Jews and Israel or whether he seeks to distance the US from Israel in anticipation of an Israeli attack on Iran. Although I think the possibilities Glenn raises are real ones, I would say that the most likely explanation is the one that is almost always the right answer concerning Obama -- he holds the view of the American left on this (and on every) issue. The… [read post]
25 Mar 2010, 1:48 pm
This is the summary of a story on the first page. My guess is that it won't be linkable pretty soon, but here is the summary of the Democrat's decision to nationalize the student loan system: The measure ends billions of dollars in subsidies paid to commercial banks for making federally backed student loans in which they bore almost no risk, and expands direct federal loans to students instead. Pretty unbiased, would't you say? Could anybody be against such a thing? Only an idiot. Or… [read post]
11 Jan 2010, 8:37 pm
Eric Posner strongly answers no. Quite a good essay by Posner. [read post]
27 Aug 2009, 12:01 am
Well, in Massachusetts, the question answers itself. Senator Kennedy has passed from this earth, but his dying wish was for the state to change the law so that the Democratic governor could appoint a replacement right away. The problem is that the existing law requires a special election to be held, rather than having the governor appoint a replacement, and that special election could not take place until January. Now, why do they have that law in Massachusetts?… [read post]
18 Mar 2008, 12:03 am
Most people have focused on the political effects of Obama's connection with Wright. And those are significant. Obama, the candidate of racial unity and racial transcendence has as his spiritual adviser an apparent biggot and America hater. That just might sink Obama. But that is not my question. Rather, should people continue to support Obama? Should decent people, who are genuinely committed to nondiscrimination and the… [read post]
20 Feb 2008, 4:17 pm
Here is some evidence that the Left hates the Capitalist West more than it cares about the lives of the unfortunate. Happily, some of the commentators seem to take the author to task. [read post]
24 Jun 2007, 12:06 pm
Glenn Reynolds analyzes this issue here. And quite well, except that I question his last move and his conclusion. Reynolds argues: The argument that the Vice President is a legislative official isn't inherently absurd. [My note: It is actually correct, so obviously not absurd]. The Constitution gives the Vice President no executive powers: The VP's only duties are to preside over the Senate, and to become President if the serving President dies or leaves… [read post]
