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Low Taxes Do What?

The Wall Street Journal is chock full of goodies this morning. I recommend special attention to Thomas Sowell’s commentary on economic literacy (subscription required). His focus is on the value that academic economists provide when they explain economic relationships to the public: Some years ago, the distinguished international-trade economist Jagdish Bhagwati was visiting Cornell University, …

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Gasoline Prices, Again

Here’s an article on the complex interaction of factors that have led to a recent rise in gasoline prices in California. It’s a lot of the usual — planned and unplanned maintenance, the seasonal fuel switchover, etc.