UM Hockey

This was taken last February at the Yost Ice Arena in Ann Arbor. U of M just scored a goal.

Economics for the layperson

Today I was asked to give a number of book reviews to people wanting to know what some good books on economics are. The man I just spoke to from Oregon is doing an independent study with a high school senior and asked for four books that would both be at her level, yet still may be a challenge. Here are the books I recommended to him and which I also commend to you.




1) Basic Economics; Thomas Sowell.This one is a bigger book but Sowell is one of the best people to learn about economics from because of his memorable analogies and illustrations. You will not find confusing math or charts in his text, just a clear and comprehensive overview of economics.










2) The Road to Serfdom; F. A. Hayek
This is one of the all-time classic free market economics works. It is also the only difficult read I usually recommend to those who just want a couple books. Hayek's arguments are especially prescient given the massive expansion of government today. When Hayek first wrote this, Readers' Digest had him write a version for their magazine! Hayek argues most often using examples of Russia, Germany, and Italy that were relevant in his day but no so much ours. Nevertheless, his arguments are timeless.









3) New Deal or Raw Deal; Burton Folsom.
This book is much less an economics text than it is a historical work. This is the story of what happens to a country when it chooses massive government expansion. This book is also full new information only recently dug up at the National Archives. It's an easy and aggravating read - finding out everything you thought you knew about the new deal or FDR was wrong.

4) Free to Choose; Milton Friedman.
Many, many middle-aged free marketers today look at this book as the one pivotal in changing the way they see the world. Friedman looks at a slew of government program and critiques them from a free market perspective. The only thing I differ with him on is his advocacy for school vouchers, as opposed to tax-credits. Ultimately, his book is well-reasoned argument, anyone can understand, pleading that man ought to be left "free to choose."

Parents and their (perceived) trophy children

One of the assignments I had at work this week was to find a group of high school students to appear on a national television show in a couple months.

When looking for students and groups, it's been amusing to see how the parents of these kids are sometimes far more enthusiastic about the opportunity than the kids themselves. Parents sent me their kid's reading lists, their debate accomplishments and report cards hoping I would see how much of a qualified trophy child they are. Parents would even want to talk to me personally on the phone to vouch that their child would be an excellent candidate for this interview or show (as if they know...)

What's funny is that none of that really matters to me; I have my own private set of criteria I looked for.

Wealth is not Money

One of the greatest causes of economic misunderstanding today is that people think wealth is money. If this were true, Zimbabwe would be the richest country in the world. Wealth is much more than money, and cannot be measured monetarily and often goes quite unnoticed.

For example, the WSJ has an article titled: Backup System Helped Pilot Control Jet. Such advancements in technology are only the result of freedom in a society - freedom to innovate, freedom to hire and fire, freedom keep the income one has earned. Every time the government creates a new regulation, whether it be a wage law, labor law, or more taxes, it decreases the speed at which wealth and it's many life-saving effects will be produced.

Granted, the back-up systems were also combined with good judgment by the pilot. But the back-up system is just one example of the many unnoticed examples of the growth of wealth.

I wonder how many people are right now without a job, paid poorly, going without needed medicine, or walking through a maze of some bureaucracy thanks in part to government intervention.

Money Management

It's exponentially difficult to improve something if you're not tracking it. This applies to most anything. Book reading for instance - One is more likely to reach his goals and be a consistent reader if he sets out a plan and marks down what he has accomplished and know where he has to go. This applies to time management (it must be explicitly managed to be used well) and the one that may be most obvious to all of us is money.

I'm always looking for better ways to explicitly manage money. Mint.com looks like a great program and it's FREE! I already bought and use some software on my mac, but shouldn't worry about it since it's a sunk cost.

I might write a review of this later if I start using it.

Defiance

Defy tyranny, save people...I'm down with that.

This looks like a sweet video. Comes out this coming fall.

Prospective...

I hope I can start blogging more than I've been the past couple months - mainly on things I'm reading and a little bit of my own writing.

My current long term reading projects are two read through the entire ESV Study Bible and Calvin's Institutes of the Christian Religion in a year. Both are phenomenal so far.

My smaller current reading projects are:
The Last Lecture - perfect for this little spare moments one has throughout the day. It's addicting though: I find that eating dinner takes much longer if I'm reading this at the same time.

The Road to Serfdom - This book is on the easier side only after 4 years of Economics at Hillsdale. I highly recommend it, though. The truths in here are for all time and are especially important given the times we are living in - government nationalization and bailouts. I'll give you a hint: Government control of and interference in the economy is the road to serfdom.

Retrospective...

I decided at the start of the new year here I would take a look back at the past 7 months - not through words, through pictures. God gave me a wonderful summer and fall after graduation, filled with trips to various places with many wonderful people. I will start with one year ago today then zip ahead to May.

One year ago today I was at the southernmost point of the continental U.S. It was cool and windy.

Cuba happens to be on the short list of countries I'd like to visit soon. Here's the sunset from Key West on the previous evening:

First "house" project...

This morning my gas stove wouldn't turn on so I had to resort to an eggless breakfast. Thanks to a helpful Readers Digest article, toothbrush, safety pin, and match we are back in working order. This was my first real house project (other than moving in). I wish all projects were this easy!

2012 Pelosi GTxi SS/RT Sport Edition

This is hilarious (and frightening!).

"We've subsidized the features you want and taxed away the rest"

"Made right here in the USA by fully card-checked unionized workers and Detroit's famous visionary jet set managers. Even if you don't own one you can enjoy the patriotic satisfaction that you're supporting the high wages, good benefits and generous political donations that are once again making the American car industry the envy of the world."

"But why not buy one anyway?"

"Plus, easy pay financing programs from Fannie Mae"