Morning in Arizona

Arizona: Open for Business

An Interesting Reason for Allowing More Immigration: Growing Labor Force Drives Economic Dynamism, Decreases Market Concentration

I thought this study was very interesting, as highlighted by Alex Tabarrok.  I usually try not to publish highlights from research papers without actually reading them (the divergence between press releases on papers and the papers themselves is shocking and constitutes what may be one of the worst current academic practices).  But in this case [...]

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Cuban Sanctions Have Done Such a Good and Speedy Job at Removing the Castros We Are Going To Try The Same Thing in Venezuela

Another of the issues I have moved a lot on in life has been trade sanctions.  Back in the day, I was all for sanctioning the cr*p out of any country run by bad people, which is a pretty long list.  Now, I am convinced this approach is totally counter-productive.  First, the story via WSJ: [...]

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There is No Crisis at the Border — What I Think is Really Broken in Immigration (and Both Parties are At Fault)

Kevin Drum has a good roundup of immigration statistics that really help to demonstrate that there is no new crisis at the border, and in fact with the exception in a rise of asylum requests, the border has been getting quieter for 10 years. I think there are clearly elements of immigration that are broken.  [...]

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More on the Government Shutdown and Keeping Parks Open

I discussed the shutdown and its effects on the parks my company operates here (spoiler:  all are still open).  Shawn Regan of PERC has a good article in the National Review on the same subject: ….under new shutdown guidelines established by the Trump administration, our parks have been rightfully spared from serving as pawns in [...]

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The Proposed Emergency Decree to Build The Wall is An Awful Precedent

Dear Republicans: The last thing we need now is even more expansion of executive power.  I remember when, gosh it was like only two or three years ago, you Republicans were (rightly) bemoaning Obama’s executive actions as unconstitutional expansions of Presidential power.  You argued, again rightly, that just because Congress did not pass the President’s [...]

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The Dumbest Tax — Business Small Equipment Property Tax

There are a lot of reasons a tax can be dumb.  It can be too damn high.  It can create incentives for counter-productive behavior.  But I want to propose another category of stupid taxes — taxes that cost WAY more to do the paperwork than the tax actually collects.  For this category I propose the [...]

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Why First-Mover Advantage in a New Industry Isn’t Always An Advantage

I have written in the context of both the new marijuana stocks (e.g. Tilray or Canopy) and Tesla in EV’s that the market is putting a whole lot of value — in some cases 90+% of their current market value — on these companies being first movers in potentially large and lucrative new industries. It [...]

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Silicon Valley Begged for Government Intervention in Their Industry, and They May Soon Get It Good and Hard

Readers of this blog know that I have always been skeptical of the value of net neutrality rules.   I see the Internet just like any other vertical value chain with multiple players, which we might oversimplify as content providers who hand off to bandwidth providers to get in front of the customer.  Nearly every industry [...]

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Yes, The Federal Campgrounds We Operate Are Open During the Government Shutdown

Several readers have been nice enough to write me and ask how my business is doing during the government shutdown.  As background, my company privately operates public recreation areas, mostly campgrounds, under concession contract.  We manage public lands for many different government agencies, but many of the campgrounds we run are in the Forest Service.  [...]

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On The Continuing, Pervasive Hatred of Short-Sellers

Readers will know that I have somehow been sucked into the Tesla vortex and spend too much time watching Tesla and Elon Musk’s antics.  I tried to explain some of the reasons for this fascination here.  Every time I swear off following Musk, he does some new nutty thing, like his joke of a demonstration [...]

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