26.3.03

THE LIFE OF THE CAMPUS TO COME. The latest Glenn Reynolds column on Tech Central is about challenging the prejudices of the Liberal Establishment. "It may not eliminate the prejudices of the New Class. But it will at least ensure that they don't pass unchallenged - and if there's anything they hate, it's being challenged." Sometimes it's the challengers who don't like being challenged either. A colleague from another department was making conversation about the potential tax cut today, and asked me about it, and I started decomposing it into an elasticity effect (at which point he mentioned that it might have been present in "the sixties" but not more recently, at which time I unleashed some of my own shock and awe, perhaps wrongly) but did manage to note that spending mattered too, something that superficial reporting didn't look at, and that modeling an alternate world in which the Soviet Union didn't implode was a task for several different departments, and that whether lower marginal tax rates brought in more or less revenue was not the only hypothesis on the table, we also had to have a conversation on whether taxation itself was a Good Thing or a Bad Thing. Lots of stuff for doctoral dissertations when cooler heads prevail.

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