There’s no non-partisan way to say this

I try to avoid nakedly partisan output, especially in this forum. I give my self a little more leeway on social media, but still try to remain within reason. And over my entire liftetime, the intellectual capability of the president has always been a target for insult (sometimes horrifically so) by the opposition party. But we have arrived, at some point in the preceding months or years depending on your vantage, at the arrival of a sitting President who genuinely appears to be limited in his ability to self-regulate.

A sundowning old man, addicted to AI slop, surrounded by supplicants and apparatchiks, with control over the US nuclear arsenal.

David Roberts (@volts.wtf) 2026-09-06T18:16:44.829Z

If you let the post play, it shows 7 posts over 10 minutes. The rapidity of posts is, I believe, relevant because it signals that it is unlikely to be the product of a staffer in charge of his social media. PR staff would, regardless of content, prefer that posts each have their own time at the top of the feed to generate attention. By firing off so many posts in rapid sequence, each post is buried by the subsequent. This is not professional PR.

As for the posts, it is precisely the kind of content that would generate a lot of interest from juveniles and those in cognitive decline. It’s the kind of slop, AI or otherwise, that gets a lot of attention from individuals with zero opportunity cost of time on Facebook. Read in conjunction with the all-caps posts of threats to ban trade with whole swaths of the globe and other similarly illegal executive actions, it’s just part of the evermounting evidence that the President is not in full control of his impulses. Putting aside what Thomas Schelling would say about fragility and faillings of madman theories of conflict, it’s brings up one of the most important reforms we can and should be pushing for in the next administration.

Age limits on representation.

Reliable, unbiased cognitive tests would be first-best, of course, but the problem there is a) failure is endogenous to the control of the branch administrering them, and b) extrication in the wake of a failure is the kind of stress test that our system does not seem up to at the moment. For all of it’s coarseness, counting days since the record of your birth is straightforward and relatively easy to enforce before being allowed on the ballot in the first place.

One of the realities of modern medicine is that our ability to preserve the body is likely to outpace our ability to preserve the mind at a level adequeate to the task of high representative office. At the same time, our abilitty to extricate and replace someone unfit to their duties in the public sector will likely always be limited relative to similar processes in the private market, where executive services will always be at will in any context where the executive is not themselves the owner.

From a public choice/political economy perspective, age limits will not be an easy legislative or constitutional feat. Representatives will always favor the status quo rules that helped them get their job and subsequently keep it. This is only made more complicated by the basic human optimism regarding our own current and future capacities. And perhaps the simplest obstruction is also the biggest: the reward for winning an election is the expected incumbent advantage in the next election. To limit the prospective future terms for any sitting official, in their current position or the one they aspire to, is to reduce the value of what they already earned, and nobody likes that.

In the face of all that, however, remains a simple truth. The citizens of the United States and the broader world are all made less safe by a sitting President whose self-control and capacity to understand complex contexts has waned well-beyond the threshold of reliable decision-making. That’s a cost big enough and bad enough, wrapped in all the risk aversion and loss-aversion who can possibly imagine, that it should at least have a chance to motivate real legislative action. At least a chance.

Anyway, happy Labor Day.

Mises’s Interventionism, A Recap

I suspect that Mises may have felt somewhat restless after writing Socialism. He had taken a very good stab at describing the socialist economy and its inadequacy for the promotion of human flourishing. By 1940 fascism had arisen in both Italy and in Germany, who Mises considered the clear antagonists of World War II. Further, the communist Soviets were allied with Germany at the time of writing Interventionism.

A communist-fascist alliance may seem strange to idealogues, but it appeared quite natural to Mises that the two distasteful versions of socialism should find cooperation convenient to achieve their own ends. In America, the revelations of German atrocities had yet to arrive and there were many sympathizers with both Russia and Germany. In Britain, union leaders were promoting the idea of socialism as a reward to the public who would be bearing the costs of the war.

Mises thought that the disfunction of socialism was adequate to describe its ultimate failure as an economic system. However, socialist tendencies were pervasive in the liberal market economies among both idealogues and demagogues enough to make the transition to socialism a very real threat. After all, while socialism may not be a stable regime in a dynamic world, certain features within specific market economies may nonetheless tend toward it. What is the cause of such tendencies?

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Mises’s Bureaucracy, a Recap

My favorite two economists are Ludwig Von Mises and Milton Friedman. They might consider one another from very different schools of thought, though there is reason to think that they are not so different. As an undergraduate student, I liked them both, but I became more empirics-minded in graduate school and as a young assistant professor.

As I progressed through graduate school and conducted empirical research, my opinions and policy prescriptions changed and were refined from what they once were. In graduate school, I didn’t study Austrian Economics, though it was certainly in the water at George Mason University. Recently, as an assistant professor with a few years under my belt, I picked up Bureaucracy (1944) and read it as a matter of leisure.

One word:

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Should Andrew Yang Wait to Concede?

Yesterday New York City held their mayoral primary elections. This was an exciting event for election system nerds (political scientists and public choice economists) because NYC is now using a form of ranked choice voting to determine the winner.

While this is not the first place in the US to use RCV (Maine, Alaska, and a handful of cities use it), it is still notable for a few reasons. First, this is America’s largest city. Second, there are a lot of viable candidates, which makes RCV especially interesting and useful.

Specifically, NYC is using a form of voting called instant runoff. There are currently 13 candidates, and voters indicate their top 5 in order. If no one has a majority (>50%) of the votes, then the rankings entered by voters come into play. And indeed that is what happened yesterday.

On the first round, only counting first place votes, Andrew Yang came in 4th with just under 12% of the votes. So last night he conceded.

But should Yang have conceded? Maybe not! Let’s explore how instant runoff works.

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Broad Base, Low Rates: Every US State Fails on Good Sales Tax Principles

In a previous post, I contrasted the income and property taxes, but I left out the other important tax: the retail sales tax. So let’s rectify that omission.

The retail sales tax is like the “Little Engine that Could,” delivering a steady stream of revenue to governments, while mostly staying out of the passionate debates surrounding the income and sales taxes. About 23% of state and local tax revenue comes from general sales taxes in the US, roughly equal to income taxes, and if you include selective sales taxes it’s slightly larger than the property tax share.

But there’s a problem with sales tax. The sales tax “base,” basically the extent of economic activity that the base covers, has been shrinking. A lot. As Jared Walczak has recently written, in just the past 20 years the “breadth” of the sales tax (how much of the potential base it covers) has fallen from about 50% to 30%.

As Walczak also notes, there are seven or so broadly agreed on principles of sales taxes, but I would say there are two primary ones (the first two on his list):

  1. An ideal sales tax is imposed on all final consumption, both goods and services.
  2. An ideal sales tax exempts all intermediate transactions (business inputs) to avoid tax pyramiding.

But US states violate these two principles in various ways, leading to (oddly enough) a tax base that is simultaneously too narrow and too wide. Why is this?

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