Originally published on Tue August 6, 2013 6:04 am
Silly me. I thought "rent-seeking" was something only landlords did.
But economists have their own way of looking at the world. To them, rent-seeking is a term for describing how someone snags a bigger share of a pie rather than making a pie bigger, as the venerable Economistexplains it.
So, a drugmaker can be seen as a rent-seeker if it cajoles doctors to prescribe more of a particular brand of medicine at the expense of a rival pharmaceutical company's wares.
Scrutinizing the books of government agencies can turn up lavish parties or illicit trips at the taxpayers' expense. But not every investigation turns out that way. And when they don't, the hunt for waste can appear to be a waste itself.
Such appears to be the case with a recent inquiry involving NASA and Viking re-enactors. This whole saga began with an idea from Ved Chirayath, an aeronautics graduate student at Stanford University who loves photography. He was talking over what to shoot one day with a colleague, and thought of Vikings.
Originally published on Mon August 5, 2013 5:20 pm
All of a sudden, Sen. John McCain matters again.
It's not like he disappeared. But after being sidelined for a time by his 2008 defeat in the presidential election against Barack Obama, the Arizona Republican has re-emerged as one of Obama's most important allies in the Senate.
McCain took the lead in crafting immigration legislation that passed the Senate in June. Last month, he came up with the deal that prevented the Senate from abolishing judicial filibusters, allowing several Obama Cabinet and agency nominees to win confirmation.
Protesters wave posters of Turkey's first president, Kemal Ataturk, before a police barricade outside the Silivri jail complex in Silivri, Turkey, on Monday. Scores of people were sentenced for their roles in what's being dubbed the Ergenekon plot.