Thursday Open Thread
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Written with Eric Winsberg and Chris Surprenant, forthcoming in The Kennedy Institute of Ethics Journal. Abstract: In spring 2020, in response to the COVID-19 crisis, world leaders imposed severe restrictions on citizens’ civil, political, and economic liberties. These restrictions went beyond less controversial and less demanding social distancing measures seen in past epidemics. Many states and countries imposed universal lockdowns. In this paper, we argue that these restrictions have not been accompanied by the epistemic practices morally required […]
I see a lot of talk on here and on other social media platforms about abandonment of the idea of ‘profit’. As if profit in and of itself is harmful or immoral. What’s the justification for profit? Isn’t breaking even (if that can be calculated) sufficient? I’m of the opinion that profit (optimization, not maximization) is the motivation behind rational free market activity. How can it be otherwise? Have any reputable authors written about this: Rand, Sowell, Mises, […]
Former President Donald Trump and Vice President Kamala Harris keep making new promises. Trump fans applauded when he said he’ll eliminate taxes on tips. Then Harris proposed that, too. Her audience applauded. Trump then proposed not taxing overtime. More applause. But narrow tax exemptions are bad policy. In my new video, economist Allison Schrager explains how they create nasty, unintended consequences. “No one likes tipping,” says Schrager, “but all of a sudden, you’ll have to pay tips for […]
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One of Washington, D.C.’s best cocktail bars is Silver Lyan, the only U.S. outpost for award-winning British bar maestro Ryan “Mr Lyan” Chetiyawardana’s cocktail empire. The bar, which is located inside a subterranean vault in a bank that has been converted into a chic downtown hotel, is renowned for its elaborate techniques, its cleverly referential cocktails—one recent drink was designed to mimic a half-smoke, Washington, D.C.’s signature chili dog—and its themed menus. Over the summer, the bar unveiled […]