Engineer’s salaries, taking into consideration education and responsibilities, the stress of accelerated delivery schedules and their direct impact on corporate profits and overall success of the company, seem absolutely inadequate.
Well, I’ve known a few who were. But no, not in general.
In many of these overpaid professions, there’s some kind of government-induced market failure going on (e.g., longshoremen), but in a lot of cases, it’s just the occasional irrationality of the market place.
John Tierney on lunar and martian property rights.
From George Will. I’m kind of intrigued by the idea of capping the pay of fascist CEOs (Lee Iacocca comes to mind as a poster boy).
Food is a fuel, of course, though we don’t think of it that way. But now that transportation is competing for it, it’s having dire effects on everyone, but particularly the poor, largely as a result of idiotic government policies. This should be a good issue for John McCain, if he only understood economics.
Why the oil “shortage” is made in Washington.
Jim Manzi explains it to Barack Obama. Unfortunately, both presidential candidates are economic ignorami.
Is it almost over? Let’s hope so.
Some interesting thoughts on the insane notion of banning it to save the planet. Also, comments about law students’ economic literacy.
…why can’t we kick the fossil fuel habit? Well, we can, but not the way we put a man on the moon, and certainly not within a decade. On the thirty-ninth anniversary of the first landing, I explain.
[Afternoon update]
It’s interesting to note that the original landing was on a Sunday as well. I don’t know how many of the anniversaries have fallen on a Sunday, but I would guess five or so. It’s not too late to plan to commemorate the event with a ceremony at dinner tonight, with friends and family. Also, a collection of remembrances here. If you’re old enough to remember it yourself, you might want to add one.
Maybe. These were clearly unsustainable prices–the only question was how long it would take them to drop. And what do you know? The market works:
Gas may be getting just a bit cheaper, but major changes in how Americans live and drive are already in motion.
Car buyers have been fleeing to more fuel-efficient models. U.S. sales of pickups and sport utility vehicles are down nearly 18 percent this year through June, while sales of small cars are up more than 10 percent.
While slashing production of more-profitable trucks and SUVs, automakers have been scurrying to build their most fuel-efficient models faster.
Toyota Motor Corp., which hasn’t been able to keep up with demand for its 46-miles-per-gallon Prius hybrid, said last week it will start producing the Prius in the U.S. and suspend truck and SUV production to meet changing consumer demands.
Ford Motor Co. and General Motors Corp. also have announced plans to increase small car production, and GM has said 18 of the 19 vehicles it is launching between now and 2010 are cars or crossovers.
And what do you know, they didn’t do it because their intellectual superiors in Congress passed a law making them. They did it because gas was four bucks a gallon. Maybe people aren’t the stupid sheep that technocrats think they are.