Daniel Klein, Xiaofei (Sophia) Pan, Daniel Houser, Gonzalo Schwarts |
Mar 30, 2011
The idea of political community is appealing on a gut level. Hayek suggested that certain genes and instincts still dispose us toward the ethos and mentality of the hunter-gatherer band, and that modern forms of political collectivism have, in part, been atavistic reassertions of such tendencies.This paper reports on an experiment designed to explore the demand for encompassment by having subjects sing together. An exit questionnaire showed that subjects‘ chief reason for making such a sacrifice was a belief that the singing would be more enjoyable if it encompassed the whole group, and reported enjoyment is significantly higher with encompassment. We discuss the experiment as a parable for a penchant toward political collectivism.
Are the benefits of the 30-year fixed rate mortgage worth the cost? This paper takes a look at this question along with its fate if Fannie Mae and Freddie Mac are no longer around to finance the 30-year fixed rate mortgage.
Some commentators suggest that a private market for U.S. mortgages is no longer possible. Others argue that heavily subsidized government programs have crowded out private providers, making actual competition impossible. The five papers presented here look beyond the housing crisis to present various proposals for the long-term reform of government-sponsored enterprises (GSEs) and the U.S. mortgage market.
The nation's economy at mid-year is operating like a three-lane expressway with one lane closed. GDP growth is breaking 2.0% when it should be 3.0%. But worse than that, the cars moving in the two open lanes are running on borrowed fuel that will someday have to be paid back.
The Mercatus Center’s clear-headed research is shaping the conversation on government spending, fiscal austerity, and financial market regulation. Come hear what the former New Zealand cabinet minister would do in this country to promote economic growth and fiscal responsibility.
"It [an incentive program geared toward a specific company] tends to undermine competition and lead to monopolistic behavior, so that means higher prices for consumers, potentially higher profits for producers,"
Like most academic economists, Mr. Cowen focuses on the next quarter-century rather than the next quarter. But new technologies like artificial intelligence and online education, increased domestic energy production and slowing growth in the cost of health care have prompted Mr. Cowen to reappraise the country’s prospects.