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Archive for December 16th, 2008

Another policy change

I have changed the Creative Commons license that governs the content of this blog. In plain English, the change amounts to the following — now you can quote, republish, adapt or otherwise use any part of this blog for non-commercial purposes, provided you attribute me  as the original source. This is more restrictive than my previous license, which allowed such use even for commercial purposes, but of course, vastly less restrictive than the default “all rights reserved” copyright, where only ‘fair use’ is permitted.

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Jim Lindgren thinks he is a great choice.

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My position on the auto bailout is simple. The big three should be allowed to go bankrupt. This is true even if one ignores the moral hazard and other intrinsic costs of bailing out private firms.

Bankruptcy now is, quite simply, the best course of action not just for the taxpayer and the rest of the economy but also for the auto companies themselves. For a short but excellent analysis, read this post by Prof. Becker.

Here’s hoping that the Democrats and the Republicans, in all their partisan politicking and in-fighting, end up doing the right thing.

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