What Homeland Security Really Means

Security is a microeconomic issue. Threats to person and property come in very precise forms. What gives us homeland security is not a swaggering occupant of the White House but locks on our doors, reliable insurance, a gun in the closet, or a daughter with a good technique for catching bats. The key to feeling secure is good management of precise threats. The solution is carefully calibrated based on matching risk level, data of time and place, and making contracts with people who have an interest in bringing about the desired result. There is also a need for constant trial and error, since the nature of the threat is ever changing.

The Reagan Myth

Michael Tanner, reviewing the Republican debates the other night, just assumes without question that Reagan is the standard bearer, even though his submitted budgets were always higher than what a Democratic Congress would approve and his welfare spending set records that were bested only by his successors. Most annoying is Tanner’s dismissal of Ron Paul: “one had to go all the way down to Rep. Ron Paul’s quixotic campaign before someone reflected Reagan’s commitment to limited government.”

Reading and malinvestment

Ludwig von Mises warned of the unintended consequences that result from government interventions. In line with his warnings is the misallocation resulting from malinvestment by government in activities that are not the best use of scarce resources. These malinvestments create capital structures unsupported by real wants and desires. Bust comes when resources are cutoff or shift to the lines that are truly productive from those lines which exist solely because of these government interventions.

Dave Barry on an Anachronism

A few years back, when my son was in college, he had to mail a letter. I don’t remember the specific reason, but I do remember having a conversation with him in which he complained bitterly about the amount of work involved — finding a place where he could purchase a stamp, figuring out what kind of stamp he needed, actually writing the letter, locating an envelope, putting the letter into the envelope, having to physically leave his dormitory room to mail the envelope and so on.

Say No to the Hideous Light Bulbs

The environmentalists are pushing hideous looking fluorescent light bulbs of the kind shown here as a way to save electricity and thus reduce the need for power plants and resulting carbon emissions. The bulbs will thus allegedly help to save the planet from global warming and, therefore, the environmentalists argue, everyone should use them instead of the customary, incandescent bulbs.

Australia and Canada have already enacted laws or regulations that will make these bulbs mandatory within a few years. Efforts are underway to do the same thing here in the United States.