"Update on the Biggest Academic Scandal of the Year"

That would be Nancy McLean's attack on James Buchanan. Now Phil Magness has posted a spreadsheet of her errors. Between this and "The Sound of Silence. A Review Essay of Nancy Maclean's Democracy in Chains: The Deep History of the Radical Right's Stealth Plan for America" forthcoming in the Journal of Economic Literature, you'd think her reputation as a historian would take a huge, lasting hit.

But since the Left seems to be invested in her story, that remains to be seen.

"Who Cares about Entitlements? Well all will—in about eight years."

Maybe the politicians will be ready in another twenty or fifty years.


"Analysis of the 2018 Medicare Trustees' Report".

Gross Medicare spending is projected to grow sharply from 3.7 percent of GDP in 2017 to 4.7 percent in 2027 and 5.9 percent by 2040. After that, it will grow more gradually to 6.2 percent by 2090. Spending growth is largely due to growth in the number of beneficiaries and per-capita health care costs.

"Social Security Will Be Insolvent In 16 Years. Maybe Congress Should Do Something About That."

The people responsible for solving this looming crisis—and for mediating what's sure to be a nasty debate over the future of both programs—spent yesterday acting like there is hardly anything more important than a bunch of rich jocks showing appropriate fealty to the president's opinions.

In other words, we are screwed.

"Darn. I may outlive Social Security".

I've got to quick go see my doctor.

For years he's had me on a health maintenance plan with the goal, he says, of keeping me alive until I'm 90.

Now I need him to ease back on the medicine and good living advice. I'm not sure my money will hold out that long.

"The 300 secrets* to high stock returns"

"But are there really 300 separate characteristics associated with higher asset returns, or only a handful of things really driving stock prices? The hundreds of factors that appear in academic research are based on many possible company characteristics, which could, in theory, capture many types of risk. However, Feng, Giglio, and Xiu are skeptical that all these factors are useful."

"Lots of blame for Seattle’s head-tax debacle. Except where it belongs."

Quit yer complaining. In my experience political blunders are rarely reversed so quickly

Related: "Fed Up in Seattle".

Don’t believe the hype that “Amazon killed the Seattle head tax,” the new levy that the city recently passed on businesses to fund an affordable-housing initiative. The truth behind the city council’s stunning reversal—repealing the tax by a 7-2 vote, just four weeks after passing it 9-0—is that Seattle citizens have erupted in frustration against the city’s tax-and-spend political class that has failed to address the homelessness crisis, despite record new revenues.

Drew Hanlen

I was reading "Mo Bamba's growing case as the best player in this draft" and there's this:

Bamba has done everything in his power since his season wrapped in March to make his case for why teams might regret passing on him, with a regimented routine including strength training, physical therapy, boxing, beach workouts, yoga, film study and two skill workouts a day with renowned player development specialist Drew Hanlen in Los Angeles.

So I wondered: how do you become a "renowned player development specialist"? In three seconds the Net gives me "Young workout guru pushes his clients toward the NBA". Which is just a wonderful story. Primarily because it shows, yet again, what is possible with entrepreneurial spirit and hard work. But also because as an old business strategy teacher, I got a kick out of seeing SWOT analysis used to apparently good effect. 

"Atonement as Activism"

John McWhorter:

This new cult of atonement is less about black people than white people. Fifty years ago, a white person learning about the race problem came away asking “How can I help?” Today the same person too often comes away asking, “How can I show that I’m a moral person?” That isn’t what the Civil Rights revolution was about; it is the product of decades of mission creep aided by the emergence of social media.

"Rise of the Rest in Appalachia"

Selena Zito tells the story of a constructive way to balance the needs of the coal industry and the environment.

"For everybody who's wanted to sit back and just completely hammer the coal industry, that's an easy thing to do," he said. "If you want to actually win over hearts and minds and you want people to actually support your environmental cause, then come in and put money to work and put people to work. It's that simple. It's really not rocket science.

"All you gotta do is come in and build."

"Michigan Think Tank Looks Into Scope of State’s Crony Capitalism — It’s Not Pretty"

Capitalism is generally excellent, but crony capitalism is definitely not.

The study found that, since 2001, Michigan lawmakers have forked over $16 billion in business subsidies and tax incentives. The study notes that that is more than the value of the state’s four major sports teams: the Lions, Red Wings, Tigers, and Pistons. That’s a bit of an understatement — it’s only a little less than four times the value of those franchises combined.

Related: "Crony capitalism against the real thing: Collusion between government and business corrupts the free market".