Conservatives were right all along: textbooks are biased towards the Left.
Econlog blogger Alberto Mingardi celebrated the genius of Adam Smith yesterday, in honor of his 291st birthday. Very short and very insightful.
Speaking of Adam Smith, here is the epitome of the classical liberal’s enemy.
Execupundit on demeanor:
Demeanor matters. This does not mean that anger and passion are always inappropriate. It simply means that one’s demeanor should match the moment and further, not hinder, the position. The side which keeps its temper under control has a major advantage.
Mark J. Perry from the American Enterprise Institute presents the data on economic inequality. His main point:
MP: This is a very important finding that: a) individual income inequality has been flat for more than 50 years, b) it’s only household and family inequality that have risen, and c) the rise in household and family income inequality can be explained by demographic factors, rather than economic reasons. In other words, there has been no increasing concentration of income for individual Americans during the last 50 years as is frequently reported by Krugman, Piketty, Stiglitz, and the media. As I have mentioned before, the “problem” of rising income inequality might be what Mencken called an “imaginary hobgoblin,” which is certainly keeping the populace and politicians alarmed, and looking for solutions like higher taxes to address what is basically a non-problem.
Related: See Don Boudreaux’s post today Household Inequality Is Not Individual Inequality.