Economics

According to an AP wire piece by Tim Paradis titled "Dow reaches new high on election results", Wall Street rose for a third straight session Wednesday, with the Dow Jones industrials reaching another record close as investors grew more confident that a huge victory by Democrats in congressional elections would result in gridlock and keep lawmakers out of the way of business … [Read more...] about Stock Market Reacts!

According to an AP wire piece by Tim Paradis titled "Stocks fall on midterm election results", Wall Street retreated Wednesday after Democrats scored a huge victory in congressional elections, raising questions about how sympathetic the federal government will be toward business. There are three problems with this observation. First, by "Wall Street," he means the Dow Jones … [Read more...] about Stock Market Reacts!

Radley Balko has an article on the FOXNews site about politicians trying to look like they're doing something about high gas prices. I agree with his basic premise, which is that high has prices are mostly the result of natural market forces and that any attempt to fiddle with them is likely to cause more harm than good. That's sound economics. An important exception arises … [Read more...] about Cartelization of the Gasoline Market?

Back in August, I told you that Hawaii was attempting to cap the price of gasoline, but that they were making a very bad mistake by capping the wholesale price. Instead of reducing the price at the pump, this would raise it, for reasons I explained in the article. I was a little nervous about writing that because I'm strictly an amateur at economics: I just read a lot of … [Read more...] about About Those Hawaiian Gas Price Caps…

Blonde Justice is giving advice to prospective law students on finding good public interest law schools: I'm certainly not saying you can't go to Stanford, Yale, or Harvard and work in public interest. You can, and people do. I'm sure that there's not a law school in the country that hasn't produced at least one public interest lawyer, or that wouldn't tell you on your tour … [Read more...] about Economics of Public Interest Law Schooling