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Articles by Arnold Kling

Why Privilege Nonprofits? Friday, October 17, 2014
People on the right view nonprofits as a civil-society bulwark against big government. People on the left think that profit is inherently bad, and therefore ...
Will Venture Capitalists Drive the Next Spectacular Breakthrough? Monday, September 29, 2014
Peter Thiel’s Zero to One is a provocative and stimulating book, however, the Silicon Valley institutional structure may not drive the future as much as it has ...
A Bipartisan Consensus on How to Fight Poverty? Wednesday, August 6, 2014
In an otherwise bitterly partisan political environment, two recent policy proposals from both sides of the aisle share core ideas for reforming anti-poverty ...
The Genetics Revolution Challenge and How to Incentivize Biomedical Research Monday, June 30, 2014
The genetics revolution poses challenges to the way that the FDA and patent system influence medical research. Prize-grants could be better suited to providing ...
Congress Should Promote Charter Schools Sunday, April 6, 2014
States are inhibiting educational entrepreneurship; Congress should step in and provide funding to states to facilitate further charter school growth.
GDP and Measuring the Intangible Wednesday, February 26, 2014
GDP statistics lead us to take an overly pessimistic view of the economy. There is no Great Stagnation. There is only a widening gap between the rate of ...
The Recipe for Good Government Tuesday, January 14, 2014
If we compare countries around the world, what factors are generally associated with good governance and what factors are associated with bad governance?
Fantasy Despot Syndrome and Wednesday, November 6, 2013
Entrepreneurs have to implement through consent and prove their ideas in the marketplace. In contrast, the administration lacks the patience and pluck the free ...
The Reality of the ‘Real Wage’ Monday, November 4, 2013
Calculating trends in the real wage is much harder than we realize, because every household has different tastes. Such an exercise is misleading at best and ...
Your Mortgage, Their Rent Wednesday, August 21, 2013
Wall Street investment banks and mortgage bankers seem poised to get what they want in housing finance reform – at the expense of taxpayers.
Information, the Entrepreneur, and George Gilder’s New Economic Thinking Wednesday, July 17, 2013
George Gilder’s vision of data-driven capitalism has much to recommend it, but caution is warranted.
Tribal Politics in the 21st Century Tuesday, June 4, 2013
Progressives, conservatives, and libertarians each have a mythology in which they are the heroes and the other tribes are villains. Partisans of these three ...
Regulating Risk Thursday, April 11, 2013
An illustration of the impact of financial regulation on capital allocation is the extent to which the world's savings have been attracted to long-term ...
The 'Two Drunks' Model of Financial Crises Wednesday, March 13, 2013
It’s unlikely that banks and government can be disentangled, but a healthier relationship could begin with a new approach to credit guarantees.
What Do Banks Do? Tuesday, February 26, 2013
A closer look at bank leverage.
Reform Government Pay with Step Decreases Wednesday, February 6, 2013
Longevity is the wrong characteristic to reward in the case of government workers.
16 Tons of Keynesian Economics Tuesday, January 22, 2013
As the old song goes, after 16 tons of Keynesian economics, all we have to show for it is that we are deeper in debt.
Skin in the Housing Game Monday, January 14, 2013
Recourse mortgages with significant down payments will stabilize the housing market, prevent speculative bubbles from forming, and limit taxpayer risk.
What Would Churchill Do? Friday, December 21, 2012
November 6 was an electoral setback dealt to those of us who believe in capitalism and limited government. What can we learn from Churchill, who was no ...
The Risky Mortgage Business: The Problem with the 30-Year Fixed-Rate Mortgage Tuesday, December 11, 2012
One would not be troubled by the 30-year fixed-rate mortgage if it were an emergent property of free markets. But it is not.
Lenders and Spenders: Confronting the Political Reality of Debt Tuesday, November 20, 2012
Is federal debt really nothing more than money ‘we owe to ourselves’? No. It frays the political fabric, and we are feeling its effects already.
Reforming the Housing Transaction Tuesday, November 13, 2012
If policymakers truly want to make things better for home buyers, they should look for ways to streamline and modernize the housing transaction itself.
Who Needs Home Ownership? Tuesday, October 30, 2012
Home ownership subsidies have imposed costs that are large and clear. The benefits of such subsidies are, at best, small and vague.
How to Think about QE3 Tuesday, October 9, 2012
Here are three possible outcomes.
Many-to-One vs. One-to-Many: An Opinionated Guide to Educational Technology Wednesday, September 12, 2012
There are many horses in the educational technology race. Which ones are worth betting on?
The Economics of Pepco Friday, July 6, 2012
What happens when there is no market for reliability.
Checks, Balances, and Audits Wednesday, June 20, 2012
Here’s an approach that accepts the reality of the Administrative State while restoring the principle of checks and balances.
Why We Need Principles-Based Regulation Tuesday, May 22, 2012
Instead of regulating the boundaries between what is approved and what is forbidden, perhaps we should lay out broad but well-defined principles that ...
The Tribal Mind: Moral Reasoning and Public Discourse Thursday, April 26, 2012
If we want to get along better and resolve differences more easily, it will take conscious effort to overcome tribal behavioral instincts.
Economics: A Million Mutinies Now, Part Three Monday, April 16, 2012
The mainstream vs. the anti-modernists.