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Archive for February 22nd, 2010

To follow up on the post from Saturday, here’s a column by John Lott, which makes the very sensible point that shifting resources from the productive sector of the economy to the government necessarily will cause dislocation in the short run. There also would be inefficiency in the long run, but that’s a separate issue:

…the stimulus created higher unemployment. In fact, my columns in this space predicted that during at the beginning of February 2009 that would be the case. Moving around a trillion dollars from areas where people would have spent it to areas where the government wants to spend it will move a lot of jobs away from those firms that are losing the money to those who are now favored by the government. Since people won’t instantly move from one job to another, there will be a temporary increase in unemployment.

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There’s a principled Fourth Amendment argument against anti-money laundering laws. InĀ  this video, however, I mostly focus on the cost-benefit issue, explaining that the fight against crime will be more effective if law enforcement is not forced to look for a needle in a haystack.

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For the next three days, I’ll be guest-hosting The Kudlow Report on CNBC.

That’s the great news. The not-so-great news is that the show is pre-empted inside the United States by olympic hockey.

So I’m not sure how many people will have a chance to watch. Nonetheless, it’s quite an honor to be sitting in for Larry.

I’ll post an update later today with more information.

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