“If She Ever Had a Clever Thought, It Died Alone and Afraid”

I still smile whenever I see a Tesla Cybertruck. Boldly audacious–its mere existence gives me hope for the future. If I could charge its battery as fast as I can fill a tank of gas, I would buy one tomorrow. I still worry that Musk will implode or cave. But right now he looks like a genuine hero, defending free speech by buying Twitter, taking on the deep state by creating DOGE, solving the engineering challenges to make the dream of Mars a reality!

(p. B1) When Jennifer Trebb first pulled into her driveway two years ago with her sleek Tesla Model Y, it was — as she put it — “kind of like a ‘Back to the Future’ moment.”

She was helping the environment, she said, but driving a Tesla also had cachet. “It was definitely a little bit of a cool moment to have something that was innovative and different,” she said.

But Ms. Trebb recently made a U-turn, joining the ranks of Tesla owners in the United States and overseas — some well known, including the singer Sheryl Crow — who are selling their vehicles because the values and politics of the company’s billionaire chief executive, Elon Musk, are alienating them, they say.

. . .

(p. B6) In the United States, perhaps the most notable rebuke of the car brand was lodged by Ms. Crow, the singer-songwriter, who posted an Instagram video in February [2025] showing her waving goodbye as her electric vehicle was driven away on a flatbed truck.

. . .

In an appearance with Sean Hannity on Fox News, Senator John Kennedy, Republican of Louisiana, mocked Ms. Crow’s protest.

“I think she means well, but if she ever had a clever thought, it died alone and afraid,” Mr. Kennedy said.

For the full story see:

Neil Vigdor. “Tesla for Sale: Buyer’s Remorse Sets In For E.V. Owners Who’ve Soured on Musk.” The New York Times (Friday, March 7, 2025): B1 & B6.

(Note: ellipses, and bracketed year, added.)

(Note: the online version of the story was updated March 5, 2025, and has the title “Tesla for Sale: Buyer’s Remorse Sinks In for Elon Musk’s E.V.-Owning Critics.”)

Covid Handouts Raised Government Debt, Leading to Higher Inflation

During Covid, Democrats in Congress pushed for ever-greater government handouts to voters, that often were handed out to fraudsters, and substantially increased the U.S. debt. Former Democratic Secretary of the Treasury Larry Summers predicted that this would fuel inflation. Recent research by Ernie Tedeschi, the former Chief Economist at President Biden’s Council of Economic Advisors, confirms that increased debt results in higher prices.

The New York Times article summarizing Tedeschi’s research is:

Colby Smith. “Research Shows Link Between High Government Debt and Rising Prices.” The New York Times (Thurs., March 13, 2025): B3.

(Note: the online version of the article has the date March 12, 2024, and has the title “High Government Debt Is Seen as Stoking Inflation, Research Shows.”)

Colby Smith identifies Tedeschi as the author of the following research paper. The Budget Lab web site, where the paper is posted, does not identify the author:

“The Inflationary Risks of Rising Federal Deficits and Debt.” The Budget Lab at Yale. March 12, 2025.

Trump Hits ‘New High Water Mark’ for Deregulation

In my friendly debate with fellow libertarians, the passages quoted below support my claim/hope that Trump’s deregulation and downsizing efforts will prove to be substantial.

(p. A2) WASHINGTON—President Trump is following through on his pledge to usher in one of the most sweeping deregulatory drives in modern U.S. history, moving swiftly to slash environmental rules and bank oversight, remove barriers to cryptocurrencies, and reverse the Biden administration’s restrictions on energy production.

The most aggressive plans for a red-tape rollback have come from the Environmental Protection Agency, which in a single day announced 31 actions to deregulate U.S. environmental policies, including rules for power plants, the oil-and-gas industry, electric vehicles and wastewater.

Venture Global, a liquefied natural gas exporter, in early March announced an $18 billion investment in a Louisiana project, following the administration’s reversal of President Joe Biden’s freeze on approvals for LNG gas export plants, which has yielded plans for new projects and expansions. The Trump administration is “getting the red tape, getting the federal government off the back of the worker, off the back of companies,” Interior Secretary Doug Burgum said in an address to workers at the Louisiana facility.

. . .

Trump’s deregulatory moves are widespread: The Securities and Exchange Commission is backing away from Biden’s climate-related disclosure rules; the Federal Deposit Insurance Corp. rolled back a Biden-era policy that had stepped up scrutiny of large bank mergers; and the Interior and Housing and Urban Development departments are aiming to streamline regulations to spur the construction of housing on millions of acres of federal land.

Taken together, Trump’s moves are setting “the new high water mark in terms of the deregulatory agenda,” said Travis Fisher, who served in the first Trump administration and is now the director of energy and environmental policy studies at the Cato Institute, the libertarian think tank. He added that Trump is “moving more boldly than Ronald Reagan.”

Investors, bullish about Trump’s deregulatory agenda, sent stocks soaring after the election.

For the full story see:

Scott Patterson and Amrith Ramkumar. “Deregulation Hits ‘New High Water Mark’.” The Wall Street Journal (Sat., March 29, 2025): A2.

(Note: ellipsis added.)

(Note: the online version of the story has the date March 28, 2025, and has the title “Trump Ushers In ‘New High Water Mark’ for Deregulation.” The passages quoted include a couple of sentences that appear in the online, but not the printed, version of the article.)

Ramaswamy Avowed That the F.D.A. “Erects Unnecessary Barriers to Innovation”

The New York Times article quoted below worried that if Vivek Ramaswamy succeeded in “slashing regulation” of drugs, his own drug development firm would have benefitted. Maybe so, but that misses the main point–all the rest of us also would have benefitted by medical entrepreneurs being allowed to create more and quicker cures. Presumably The New York Times was relieved when Ramaswamy resigned from DOGE, but I was discouraged.

I was in favor of Elon Musk’s push to reduce the number of federal employees. But I was even more in favor of Vivek Ramaswamy’s push to deregulate innovative entrepreneurs.

[By the way, isn’t it predictable that The New York Times delights in highlighting Roivant’s one failure, but gives only passing scant mention to its six successes?]

(p. A10) Vivek Ramaswamy is the less famous and less wealthy half of the duo of billionaires that President-elect Donald J. Trump has designated to slash government costs.

. . .

At 39, he is one of the world’s youngest billionaires, having made his fortune in the pharmaceutical industry.  . . .

Mr. Ramaswamy, who owns a stake currently valued at nearly $600 million in a biotechnology company he started, has called for changes at the Food and Drug Administration that would speed up drug approvals.

. . .

Since being named to jointly lead DOGE, Mr. Ramaswamy had until recently been posting on Mr. Musk’s social media site X, hinting about where he may look to make changes in the government.

He called for slashing regulation, not just cutting government spending. He pointed to federal workers focused on diversity as potential targets for “mass firings.”

And he has been taking aim at the F.D.A. “My #1 issue with FDA is that it erects unnecessary barriers to innovation,” he wrote on X. He criticized the agency’s general requirement that drugmakers conduct two successful major studies to win approval rather than one.

Mr. Ramaswamy founded his biotechnology company, Roivant Sciences, in 2014, betting that he could find hidden gems whose potential had been overlooked by large drugmakers. The idea was to hunt for experimental medications languishing within large pharmaceutical companies, buy them for cheap and spin out a web of subsidiaries to bring them to market.

The venture is best known for a spectacular failure.

In 2015, Mr. Ramaswamy whipped up hype and investment around one of his finds, a potential treatment for Alzheimer’s disease being developed by one of his subsidiaries, Axovant. Two years later, a clinical trial showed that it did not work, erasing more than $1.3 billion in Axovant’s stock value in a single day.

Mr. Ramaswamy personally lost money on paper on the failure, but thanks to the savvy way he had structured his web of companies he and Roivant weathered the storm. Six products have won F.D.A. approval, and today Roivant has a market valuation of $8 billion.

Mr. Ramaswamy sold some of his Roivant stock to take a large payout in 2020, reporting nearly $175 million in capital gains on his tax return that year. But he is still one of the company’s largest shareholders.

If Mr. Ramaswamy recommends changes that speed up drug approvals through DOGE, that could be good news for Roivant, which is developing drugs that might come up for approval during Mr. Trump’s second term. The faster it can get medicines onto the market, the more valuable the company — and Mr. Ramaswamy’s stake in it — stands to become.

For the full story see:

Rebecca Robbins, Maureen Farrell and Jonathan Weisman. “From Ramaswamy’s High-Profile Perch, a Web of Potential Conflicts.” The New York Times (Thursday, January 16, 2025): A10.

(Note: ellipses added.)

(Note: the online version of the story has the date Jan. 15, 2025, and has the title “Ramaswamy Has a High-Profile Perch and a Raft of Potential Conflicts.” At one point this entry was posted on March 30. I had not noted that another entry had been posted for March 30, so for consistency I moved this entry to April 23.)

Signed Anti-Tariff Declaration and Would LIKE to Sign PRO-Deregulation and PRO-Government-Downsizing Declarations

My friend Tom Chappelear posted a response to my posting, and I responded:

You may be right, but I am inclined otherwise. How much of the off-shoring is due to other countries’ protectionist policies, and how much is due to the U.S. over-regulating manufacturing, so that labor is cheaper and more flexible abroad? I disagree with Oren Cass’s support for protectionism and industrial policy, but I found his chapter on environmental regulations eye-opening. Ever-more-onerous environmental regulations don’t do anything to make the air and water healthier, but do a lot to make manufacturing in the U.S. more expensive and less nimbly adaptive. Our labor regulations also make it much harder for U.S. entrepreneurs to hire U.S. laborers, and to deploy them in innovative ways.

“Effort Means That You Care About Something”

In my Openness book, I argue that we should allow each other the freedom to choose intensity over work-life balance. David Brooks is sometimes thought-provoking and eloquent, for instance in the passages quoted below where he defends intensity.

One question that Brooks discusses elsewhere in his essay is: how do you find your “passion,” your “misery,” your “vocation”? He tries but after reading his answers, I think the mystery mostly remains. The best answer to this question that I have found is in a book by John Chisholm called Unleash Your Inner Company. Chishom suggests that you should apply yourself to something worth doing, and work to do it better. If you do that, he suggests, you are likely to eventually find you increasingly care about what you are doing.

(p. 9) My own chosen form of misery is writing. Of course, this is now how I make a living, so I’m earning extrinsic rewards by writing. But I wrote before money was involved, and I’m sure I’ll write after, and the money itself isn’t sufficient motivation.

Every morning, seven days a week, I wake up and trudge immediately to my office and churn out my 1,200 words — the same daily routine for over 40 years. I don’t enjoy writing. It’s hard and anxiety-filled most of the time. Just figuring out the right structure for a piece is incredibly difficult and gets no easier with experience.

I don’t like to write but I want to write. Getting up and trudging into that office is just what I do. It’s the daily activity that gives structure and meaning to life. I don’t enjoy it, but I care about it.

We sometimes think humans operate by a hedonic or utilitarian logic. We seek out pleasure and avoid pain. We seek activities with low costs and high rewards. Effort is hard, so we try to reduce the amount of effort we have to put into things — including, often enough, the effort of thinking things through.

And I think we do operate by that kind of logic a lot of the time — just not when it comes to the most important things in our lives. When it comes to the things we really care about — vocation, family, identity, whatever gives our lives purpose — we are operating by a different logic, which is the logic of passionate desire and often painful effort.

. . .

. . . I have found that paradoxically life goes more smoothly when you take on difficulties rather than try to avoid them. People are more tranquil when they are heading somewhere, when they have brought their lives to a point, going in one direction toward an important goal. Humans were made to go on quests, and amid quests more stress often leads to more satisfaction, at least until you get to the highest levels. The psychologist Carol Dweck once wrote: “Effort is one of the things that gives meaning to life. Effort means that you care about something.”

All this toil is not really about a marathon or a newspaper article or a well-stocked shelf at the grocery store. It’s about slowly molding yourself into the strong person you want to be. It’s to expand yourself through challenge, steel yourself through discipline and grow in understanding, capacity and grace. The greatest achievement is the person you become via the ardor of the journey.

. . .

So, sure, on a shallow level we lead our lives on the axis of pleasure and pain. But at the deeper level, we live on the axis between intensity and drift. Evolution or God or both have instilled in us a primal urge to explore, build and improve. But life is at its highest when passion takes us far beyond what evolution requires, when we’re committed to something beyond any utilitarian logic.

For the full commentary see:

David Brooks. “A Surprising Route to the Best Life Possible.” The New York Times, SundayOpinion Section (Sun., March 30, 2025): 9.

(Note: ellipses added.)

(Note: the online version of the commentary has the date March 27, 2025, and has the same title as the print version. The first couple of paragraphs quoted above appear in the longer online version, but not in the shorter print version, of the commentary. In the third quoted paragraph, the words “like” and “want” are italicized.)

My book mentioned in my initial comments is:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, 2019.

The book by Chisholm that I praise in my initial comments is:

Chisholm, John. Unleash Your Inner Company: Use Passion and Perseverance to Build Your Ideal Business. Austin, TX: Greenleaf Book Group Press, 2015.

How a Progressive, About to Pretend to Be a Conservative, Dropped the Pretense

How does a person totally change from one viewpoint to a totally different viewpoint? A thought-provoking case study was presented in a full page article in The New York Times.

In 2020 Xaviaer DuRousseau was a black progressive scheduled to appear on “The Circle,” a Netflix reality contest show in which his role was to sometimes attempt to fool the other participants into thinking that he was a conservative. To prepare himself to effectively deceive, he started studying conservative popular media, including the video clips of PragerU and of black social media pundit Candace Owens.

As he worked through the arguments he planned to make as a faux conservative on “The Circle,” he gradually realized that he was more and more agreeing with them, and eventually could no longer honestly be a “faux” conservative. So DuRousseau dropped the “faux” and resigned from the Netflix show.

Now Xaviaer DuRousseau is a full-fledged conservative, himself making popular videos for PragerU.

A surprising story in a surprising venue.

The full-page article in The New York Times is:

Kellen Browning and Mark Abramson. “How a Black Progressive Became a Conservative Star.” The New York Times (Thurs., April 10, 2025): A12.

(Note: the online version of the article was updated April 3, 2025, and has the title “How a Black Progressive Transformed Into a Conservative Star.”)

Pfizer Waited Until Just After Trump Lost 2020 Election to Announce Success of Trump’s “Operation Warp Speed”

I have been suspicious of the timing of Pfizer’s announcement of the efficacy of their vaccine. They announced the efficacy the day after Joe Biden was proclaimed the winner of the election. They deny the obvious inference. The denial could be true, or they could be counting on our gullibility.

I remain suspicious.

(p. A3) Soon after President Trump won the presidential election in November [2024], British drugmaker GSK brought an unusual claim to federal prosecutors in Manhattan, according to people familiar with the matter.

A senior GSK scientist, who formerly worked at rival Pfizer, had told GSK colleagues that Pfizer delayed announcing the success of its Covid vaccine in 2020 until after that year’s election.

. . .

Over the past year, Pfizer executives including Chief Executive Albert Bourla have sought to build a relationship with Trump, . . .

. . .

During the development of Pfizer’s vaccine, Bourla aggressively pushed his employees to develop the vaccine and initially had wanted the vaccine done by October [2020]. He gave similar timelines publicly, telling the “Today” show that the company would know if it worked by October [2020].

. . .

Pfizer filmed and broadcast the moment executives learned the results from Pfizer’s senior scientists, on Nov. 8 [2020].

By then, Trump had lost the election. Joe Biden was declared the winner of the contest on Nov. 7 [2020]. Two days later, Pfizer said an early analysis showed its vaccine to work safely in protecting people from Covid-19.

Just after midnight on Nov. 10, [2020] Trump posted on social media: “As I have long said, @Pfizer and the others would only announce a Vaccine after the Election, because they didn’t have the courage to do it before.”

For the full story see:

Josh Dawsey, Gregory Zuckerman, and Jared S. Hopkins. “Tip on Pfizer Vaccine Timing Is Probed.” The Wall Street Journal (Thurs., March 27, 2025): A3.

(Note: ellipses, and bracketed years, added.)

(Note: the online version of the story was updated March 26, 2025, and has the title “U.S. Prosecutors Probe Tip About Timing of Pfizer Vaccine.”)

U.S. Shipbuilding Industry’s Obsolescence of Physical and Human Capital Threatens Timely Revival of Navy

I have always opposed every form of protectionism. But at the recent APEE meetings in Guatemala City my friend Young Back Choi suggested that there might be circumstances when protectionist policy is justified. One circumstance in particular gives me pause for thought. If a technology is important for national defense, arguably the most important justified function of government, then it might be justified if necessary to maintain U.S. access to a key defense technology. For instance, a recent WSJ article, quoted below, suggests that the U.S. capacity to quickly and efficiently build naval ships has been compromised by the attrition of the U.S. shipbuilding industry.

I believe further thought and research is justified.

(p. A10) The Navy complains U.S. shipyards don’t invest enough in staff and equipment.

McKinsey analysts in a recent report on U.S. shipyards found equipment, including metal casting machines, cranes and transport systems, that was decades old, some harking back to before WW2.

The report said equipment broke down, causing delays to contracts. In some cases, it was so old that replacement parts had to be fabricated from scratch because they were no longer commercially available.

Some shipbuilding executives said European naval yards typically have more modern equipment than those in America.

Some investments have made improvements. In the so-called panel-line at Fincantieri’s Wisconsin yard, where major ship sections are joined together, the addition of robotic welders means that there are now six workers as opposed to the 24 previously needed.

That is important because the U.S. industry has a dearth of experienced older shipyard workers—with the skills necessary for the complex fabrications. A third of workers in Fincantieri’s U.S. shipyard are over 50, compared with almost 40% in Italy. Last year, the Navy blamed inexperienced new hands at a Huntington Ingalls Industries shipyard in Virginia for faulty welding on 26 vessels.

For the full story see:

MacDonald, Alistair, and Gordon Lubold. “A Warship Shows Why China Is Challenging the U.S. Navy.” The Wall Street Journal (Sat., March 22, 2025): A1 & A10.

(Note: the online version of the story has the date March 20, 2025, and has the title “The Warship That Shows Why the U.S. Navy Is Falling Behind China.”)

Healthcare Under ObamaCare’s “Affordable” Care Act Is Neither Popular Nor Affordable

In my Openness book, I argue that government regulations bind entrepreneurs and reduce innovation. As part of an antidote, I suggest that “sunset laws,” where regulations automatically expire, if not renewed. Later, at a small conference on Adam Thierer’s latest book, I was discouraged to hear a couple of participants grant the plausibility of the “antidote,” but report that in actual practice it does not work because almost all old regulations get renewed. Some hope returned when I read a report from James Broughel of a successful sunset review process:

(p. A17) Well, well. Progressives are at last acknowledging that ObamaCare is a failure. They aren’t doing so explicitly, of course, but their social-media screeds against insurers, triggered by last week’s murder of UnitedHealthcare CEO Brian Thompson, suggest as much. “We’ve gotten to a point where healthcare is so inaccessible and unaffordable, people are justified in their frustrations,” CBS News medical contributor Céline Gounder said during a Friday segment on the roasting of health insurers.

A Gallup survey released Friday [Dec. 6, 2024] affirms the sentiment, finding that only 44% of Americans rate U.S. healthcare good or excellent, down from 62% when Democrats passed ObamaCare in 2010. A mere 28% rate the country’s insurance coverage highly, an 11-point decline. ObamaCare may rank as the biggest political bait-and-switch in history.

Remember Barack Obama’s promise that if you like your health plan and doctor, you could keep them? Sorry. How about his claim that people with pre-existing conditions would be protected? Also not true. The biggest howler, however, was that healthcare would become more affordable.

Grant Democrats this: The law has advanced their political goal of expanding government control over insurers, in return for lavishing Americans with subsidies to buy overpriced, lousy products.

. . .

At the same time, ObamaCare’s perverse effects are fueling public rage against insurers and support for a single-payer system that would eliminate them. Mr. Obama and Peter Orszag, the law’s chief architect, must be smiling. Mr. Orszag, now CEO of the financial-services firm Lazard, has dined out on advising health insurers on mergers he says were spurred by the law’s regulations. How convenient.

. . .

If the goal were to help Americans with costly health conditions, it would have been far simpler and less expensive to boost subsidies for state high-risk pools. But that wouldn’t have accomplished Democrats’ actual goal, which is to turn insurers into de facto public utilities and jerry-rig a halfway house to single-payer healthcare. What a con.

For the full commentary see:

Allysia Finley. “Life Science; UnitedHealthcare and the ObamaCare Con.” The Wall Street Journal (Mon., Dec. 9, 2024): A17.

(Note: ellipses, and bracketed date, added.)

(Note: the online version of the commentary has the date December 8, 2024, and has the same title as the print version.)

The Gallup poll results mentioned above can be viewed at:

Brenan, Megan. “View of U.S. Healthcare Quality Declines to 24-Year Low.” Gallup, Inc., Dec. 6, 2024 [cited March 27, 2025]. Available from https://news.gallup.com/poll/654044/view-healthcare-quality-declines-year-low.aspx.

Doctors Burnout from Spending Less Time with Patients and More Time Arguing with Insurance Firms

Government policies have increased the paperwork that physicians must process and the time they must spend arguing with insurance companies on behalf of their patients. The policies have increased the need for back-office staff to handle the regulations, and so increased the overhead of private practice. So more and more physicians have given up private practice and become employees. They find their work less fulfilling and face burnout. Patients suffer when more of their physicians are bitter and burned-out.

(p. A1) There’s a question dividing the medical practice right now: Is being a doctor a job, or a calling?

. . .

(p. A2) Physicians work an average of 59 hours a week, according to the American Medical Association, and while the profession is well-compensated—the average physician makes $350,000, a recent National Bureau of Economic Research analysis found—it comes with high pressure and emotional strain.

. . .

Among physicians under age 45, only 32% own practices, down from 44% in 2012. By comparison, 51% of those ages 45 to 55 are owners.

Owners have more autonomy, but also increasing overhead costs. Vaughan, who sold his private practice in 2011, saw his malpractice insurance premiums increase to $65,000 a year.

Dr. Joseph Comfort, 80, sold his anesthesiology practice in 2003, frustrated by rising billing tussles with insurance companies. He now works part time as an internal medicine doctor at a small concierge clinic in Sanford, Fla.

“We’ve been ripped down off our pedestals,” he says.

For generations, Comfort says, doctors accepted being at the mercy of their pager and working long hours as the cost of doing business. “We took it because we considered ourselves to be masters of our own fate,” he says. “Now, everything’s changed. Doctors are like any other employee, and that’s how the new generation is behaving.”

They also spend far more time doing administrative tasks. One 2022 study found residents spent just 13% of their time in patient rooms, a factor many correlate with burnout.

. . .

In San Francisco, Dr. Christopher Domanski—a first-year resident who had his first child earlier this year—says he’s interested in pursuing a four-day workweek once he’s completed his training.

“I’m very happy to provide exceptional care for my patients and be there for them, but medicine has become more corporatized,” says Domanski, 29. Though he’s early in his medical career, he’s heard plenty of physicians complain about needing to argue with insurance companies to get their patients the treatments they need.

“It’s disheartening,” he says.

For the full story see:

Te-Ping Chen. “Younger Doctors Balk at Medicine’s Workaholic Culture.” The Wall Street Journal (Monday, Nov 04, 2024 [sic]): A1-A2.

(Note: ellipses added.)

(Note: the online version of the story has the date November 3, 2024 [sic], and has the title “Young Doctors Want Work-Life Balance. Older Doctors Say That’s Not the Job.”)