• What's the Problem With Less Crowding?

    It would be reasonable to think that a densely populated island with exorbitant land and housing prices would be happy to alleviate its crowding problem. That's not the thinking at the Washington Post.

    The Post had an article this morning noting the surprising fact that the number of obstetricians in Japan is declining along with its dropping birth rate. The article notes that Japan's population is currently shrinking, and that if current trends continue, its population will fall from over 127 million to just 100 million by 2050. The Post then describes this drop in population as a "problem."

  • NPR Misses the Story on Dividend Tax Cut

    NPR had a report this morning on the debate over extending the lower tax rate on dividends. The report correctly pointed out that the vast majority of this tax cut will go to the richest 1 percent of the population. It also noted the ambiguity of the evidence showing any substantial link between lower dividend taxes and increased investment and growth. However, the report neglected to point out that the vast majority of stockholders do not benefit from the cut in the dividend tax rate.

  • Money for Nothing

    Eduardo Porter had a very good piece in the Times this morning on the huge run-up in the foreign exchange reserves of developing countries. The basic point is that these reserves are held in short-term deposits that typically pay little or no real return. In poor countries that have great need of capital, diverting money to foreign exchange reserves has a large opportunity cost.

  • John Kenneth Galbraith, 1908-2006

    The passing of John Kenneth Galbraith is a real loss. His works made major contributions to public debate over the entire post-World War II era, and continue to have an impact. The New York Times had a mostly fair commentary today on Galbraith's life and work. (Brad DeLong does a good job pointing out the ways in which it is not fair.) The Post apparently did not learn the news in time for the Sunday edition, or alternatively it had not prepared an obit in advance.

  • New York Times Exposes CEO Pay Scam

    Eric Dash at the New York Times had a very good piece this morning on a backdoor $500,000 bonus that Denny's gave to its CEO, Nelson Marchioli, by allowing him to buy stock at below the market price. Of course Denny's is free to pay Mr. Marchioli whatever it feels is appropriate, but by making the payment in the form of stock options priced at below market values, it was able to conceal this payment from all but the most vigilant analysts. As the article points out, Denny's is not the only company making such surreptitious payments to its top executives.


    JUST POSTED ON TAP: THE POLITICS OF DEFINITION.* For those of you looking for some weekend reading, all four parts of �The Politics of Definition� by John Halpin and Ruy Teixeira are now available.


    BILLIONS SQUANDERED IN IRAQ AREN'T JUST AN ABSTRACTION. A commenter to this post below takes issue with the argument that Dems should oppose Iran by pointing out that Bush's wars could cost more than Vietnam. M.J. writes: "arguing that we shouldn't take military action in Iran because it's too expensive" won't "resonate with the American people," adding, "the rest of us are worried about a madman with nuclear weapons." Obviously financial cost alone doesn't add up to enough of an argument. Human toll is the most important consideration, needless to say; also critical is the potential impact on the United States' already-tattered global relationships.

  • OUT OF THE...

    OUT OF THE RED, AND INTO THE BLUE. In the current issue of Rolling Stone, Neil Strauss writes that Bruce Springsteen gets a �Neil Young pass� for Springsteen�s quirky homage to classic folk, We Shall Overcome: The Pete Seeger Session. Now, I consider myself a huge Neil Young fan. To me, albums do not get much better than Zuma or On the Beach. As I see it the man can do no wrong, but I presume Strauss� dig was in reference to some of Young�s, er, �concept albums� like Re-act-tor and Everybody�s Rockin�.


    RIGHTS-BASED LIBERALISM RUN AMOK. Some serious and trenchant criticisms of Mike's "common good" essay are starting to stream in, and are worth a look. Somewhat less seriously, but in the spirit of pushing back against the Bossman's critique of identity politics and group-rights liberalism -- and maybe even of pushing the envelope of rights-based liberalism a bit -- I wanted to tout thespian and PETA activist Pam Anderson's Wall Street Journal op-ed today about ape abuse and exploitation in the entertainment industry.


    THIRD PARTY WOES. As Dave Weigel smartly notes, the Rasmussen poll showing a xenophobic, border-enforcing third party would nearly win the 2006 elections should only be served with a heapin' helping of salt. "Americans," Dave writes, "have had the chance to vote for a candidate for wanted to build a border wall and make immigration crackdowns his #1 priority. He was a nationally-known figure who'd nearly won the Republican nomination in 1996 before leaving the party. He won $12.6 million in federal campaign funds and used them to run striking campaign ads. He was Pat Buchanan and he got less than half of one percent of the vote." Quite a showing.