The state of the states

To gauge the geographic effects of the 2008/9 economic crisis, I plot per capita, inflation-adjusted gross state product from 2007 to 2010 (the latest available). The state of the states is terrible. . . . → Read More: The state of the states

Localization and Globalization

The debate about globalization is, in essence, the debate over the costs and benefits of trade. Disagreements arise because different people are differently affected by trade. . . . → Read More: Localization and Globalization

State-by-State: The Record of the Bush Years

It is common to look at the economic statistics for the nation as a whole. In this column, I examine the State-by-State record for the Bush years: it’s been a sorry performance. . . . → Read More: State-by-State: The Record of the Bush Years

Economic Impact Studies—No Impact!

I took a deep breath, sighed, and fumbled for words. How to nicely explain to the lady on the phone that her company’s economic impact was zero? . . . → Read More: Economic Impact Studies—No Impact!

Suspended Gas Tax Means More Driving—What is the Governor Thinking?

Economic science is clear: The only function of prices in a market economy such as ours is to regulate economic behavior. Higher prices signal shortages and people will moderate their consumption; lower prices signal abundance and people will consume more. No mere Governor can suspend the laws of economics. . . . → Read More: Suspended Gas Tax Means More Driving—What is the Governor Thinking?

Taxpayers Pay Whom HOW MUCH?

The local daily paper, The Augusta Chronicle, recently carried a series of articles which combed through the salary and compensation records of local-area public employees. No doubt, the series was of prurient interest. It was also completely mistaken—for the claim that taxpayers actually pay these salaries is wrong. . . . → Read More: Taxpayers Pay Whom HOW MUCH?

Tipping Your Waiter: A Useful Formula for Employee Compensation

Why are some employees compensated with bonus pay and others with regular base pay? What factors determine which compensation system to choose? . . . → Read More: Tipping Your Waiter: A Useful Formula for Employee Compensation

The Multiplier Equals Two—and Zero Thereafter

Small pebbles make small splashes. The wavelets are small and dissipate fast. Large pebbles make large splashes. The waves spread out a bit further, then dissipate also. The bigger the pebble, the bigger the impact. More bang for the buck? Here’s a word on the use, and misuse, of “multiplier” studies. . . . → Read More: The Multiplier Equals Two—and Zero Thereafter

Georgia’s Lottery Plan is Unfair, Uneconomical

I outline a series of reasons in opposition to the proposed Georgia state lottery. If implemented, it amounts to taxing the poor to pay for the higher education of the kids of the rich. . . . → Read More: Georgia’s Lottery Plan is Unfair, Uneconomical

South Carolina Gets Nod for New BMW Plant–but Nebraska May Have Won

Here is a long list of good economic reasons that suggest that South Carolina overpaid for getting BMW to locate a production facility on its soil. . . . → Read More: South Carolina Gets Nod for New BMW Plant–but Nebraska May Have Won

Augusta Must Prepare for Changes in its Economy

Community leaders cannot expect that Augusta’s military-related installations that together employ nearly 50,000 people will survive the end of the cold war. . . . → Read More: Augusta Must Prepare for Changes in its Economy