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An ethical question

December 27, 2004 / Harry Messenheimer / Uncategorized
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David Friedman asks the following question:
“Assuming that airline passengers will soon be allowed to use their cellphones mid-flight, is it ethical not to wrench a phone from a loud talker’s hand and twist the earpiece off the phone, thus rendering our offensive communicator phoneless?”
It will be interesting to observe what etiquette and/or rules emerge voluntarily. Maybe we will soon see “talking” and “nontalking” sections on airplanes. Of course, if a cong gets personally offended (as is likely) airlines may be coerced into enforcing the cong’s rules.

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Economics in Focus

Really Bad Ideas

December 24, 2004 / Harry Messenheimer / Uncategorized
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Leave it to Venezuela. This (subscription required) makes the wishful thinking of New Mexico’s social and economic development schemes look small. Any bets as to the success of Venezuela’s new utopian cooperatives?
Here is a sample of what Hugo Chávez is trying to do:
“To accomplish that goal, the Chávez government is plowing billions of dollars into new programs, called “missions,” which act as social welfare agencies. Mostly financed by the PDVSA and run by a hodgepodge of bureaucratic offices, the missions are largely devoted to health-care education and jobs training. They exist as a sort of parallel government and are controlled by Mr. Chávez. The missions provide hundreds of thousands of Venezuelans with monthly stipends to learn everything from reading and writing to setting up cooperative farms. Mr. Chávez plans to combine the dozen or so existing missions into a megaproject dubbed “Mision Cristo,” or Christ’s Mission, which he proclaims will end poverty in Venezuela by 2021.”
This is bad news for Venezuela, bad news for Latin America and bad news for New Mexico.

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Economics in Focus

Micha Gisser In the Wall Street Journal

December 21, 2004 / mdmitchell / Uncategorized
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Congratulations to the Rio Grande Foundation’s Micha Gisser. His excellent letter to the editor regarding health policy was published yesterday in the Wall Street Journal. Here is a portion:
“The economic problem lies in the fact that traditional medical insurance covers two dissimilar events, catastrophic and minor illnesses. Consumers’ demand for catastrophic medical incidents is inelastic: a consumer will not use more of the heart-surgeon’s services just because his out-of-pocket spending is zero. Consumers’ demand for care for minor illnesses is elastic: it is inversely related to price. At the true high price a consumer would consult the medical encyclopedia and use over-the-counter drugs. At a low price (zero if her insurance pays the entire cost) a person would consume much more freely, mainly by making appointments with her doctor for every sniffle and headache. The problem with the prevailing health insurance is that the third-party payment of health-care bills insulates the consumers from the real costs of medical care services for non-catastrophic incidents.”
For the entire letter, click here (subscription required).
Nice job, Micha!

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Economics in Focus

New Blog in Town

December 17, 2004 / Harry Messenheimer / Uncategorized
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Welcome to Mario Burgos with his new blog. He promises lots of interesting insights into our “emerging” state. Are we really that dumb? Check it out.

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General Info

Advice from Santa

December 17, 2004 / Harry Messenheimer / Uncategorized
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Look who dropped into our Toastmasters meeting Tuesday evening!Santa00_0028_edited.JPG
No shopping mall Santa, he proceded to distribute gifts purchased by each of our generous members. Reality based as it was, we all felt like kids again.
He left these parting words of wisdom: “It’s too bad New Mexico cannot be reality based. We still have too many grownups who believe in the tooth fairy.”

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A Little Levity

A Private Prison Expert

December 14, 2004 / mdmitchell / Uncategorized
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A few years ago I conducted a national study of private prison costs. The results were published in two papers, one written for the Foundation and the other for the Maryland Public Policy Institute. The editor of an important book on the subject and a professor of my acquaintance at George Mason recently received a letter from an expert on the subject–a prisoner. Read it here.

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Economics in Focus

Leland Thompson, Jr.

December 13, 2004 / Harry Messenheimer / Uncategorized
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We at the Foundation are saddened to learn of the death of our good friend, supporter and champion of liberty.
Leland and his family moved to New Mexico from Midland,
TX around 1960. He had been a wildcatter in the Permian
Basin, an activity in which George H.W. Bush had also been
active, and they were (and remained) close friends. In
fact, Leland gave George W. Bush his first ride in a small
airplane.
He was a first-rate businessman, and a valued director in a
number of New Mexico companies. He was also a wise
investor in real estate, owning outright or with others
in partnership perhaps 25,000 acres of undeveloped land
on the outskirts of Santa Fe. One such investment, Rancho
Viejo, is now home to Santa Fe Community College as the
result of an outright donation of its campus lands by Leland
and his partners. The Institute of American Indian Arts and
a large Catholic church have similarly located on land donated
by the Rancho Viejo Partnership.
Leland was also a founder of Santa Fe Preparatory School,
the premier independent school (grades 7-12) in Santa Fe,
and involved in a major way assisting establishment of
the Santa Fe campus of St. John’s College.
His widow is Evaline (nee Rife), and they have five grown
children. Three are married daughters with children who
live out-of-state. One is a son, Warren, who is married
with (I believe) two sons, is now chairman of the Santa Fe
Preparatory School board and is respected in the Santa Fe
business community. Another son lives in Taos.

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In Memoriam

Academic Bias, II

December 12, 2004 / mdmitchell / Uncategorized
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Read the latest column by George Mason Professor of economics and nationally syndicated columnist, Walter Williams, for yet more evidence on the academy’s bias.

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General Info

Bias? What Bias?

December 7, 2004 / mdmitchell / Uncategorized
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Harry recently posted about liberal academia. The London-based Economist magazine (a moderate-left paper, in my opinion) has an article about the phenomenon in its latest issue. The Economist calls liberals’ reluctance to release their grip on academia is a “tragedy not just for America’s universities but also for liberal thought.”
Here is some more:
“Academia is simultaneously both the part of America that is most obsessed with diversity, and the least diverse part of the country. On the one hand, colleges bend over backwards to hire minority professors and recruit minority students, aided by an ever-burgeoning bureaucracy of “diversity officers”. Yet, when it comes to politics, they are not just indifferent to diversity, but downright allergic to it.
Evidence of the atypical uniformity of American universities grows by the week. The Centre for Responsive Politics notes that this year two universities—the University of California and Harvard—occupied first and second place in the list of donations to the Kerry campaign by employee groups, ahead of Time Warner, Goldman Sachs, Microsoft et al. Employees at both universities gave 19 times as much to John Kerry as to George Bush. Meanwhile, a new national survey of more than 1,000 academics by Daniel Klein, of Santa Clara University, shows that Democrats outnumber Republicans by at least seven to one in the humanities and social sciences. And things are likely to get less balanced, because younger professors are more liberal. For instance, at Berkeley and Stanford, where Democrats overall outnumber Republicans by a mere nine to one, the ratio rises above 30 to one among assistant and associate professors.”
And my favorite:
“It is notable that the surveys show far more conservatives in the more rigorous disciplines such as economics than in the vaguer 1960s ‘ologies’.”
If you would like to read the whole article, it can be found here with no subscription required (though I’m not sure how long that will last).

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General Info

Election Postscript

December 6, 2004 / Harry Messenheimer / Uncategorized
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Of the 12,167 certified “provisional” ballots cast for Bush or Kerry in New Mexico Bush received less than 40 percent. Does that seem suspicious?

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Economics in Focus
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