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Brazil (China) fact of the day

From 1967 to 1980, Brazil grew at an average annual rate of 5.2 per cent. Few would have predicted, then, that for the next 22 years per capita income would grow at precisely zero. That is from David Pilling at the FT, who considers China as well.  And here is part of the first comment […]

The Bill Cosby Collection

It doesn’t sound quite right to still call it that, does it?  In any case it is on display at the National Museum of African Art.  At least two-thirds of the collection is lame and maybe a third or somewhat less is wonderful.  Cosby for instance has excellent works by Jacob Lawrence, Horace Pippin, Minnie […]

Assorted links

1. When does the peak of emotional life occur? 2. Paul Krugman advising Japan. 3. What would a Ukrainian financial meltdown look like? 4. Bobsled desegregation. 5. The coming global domination of chicken? 6. How public pay phones are evolving.

The art sale gender pay gap

A Georgia O’Keeffe painting just sold for over $44 million, setting a new record for a painting by a woman; the previous record was for a Joan Mitchell painting auctioned for $11.9 million.  A Francis Bacon once auctioned for $142.4 million, and so: Despite the huge O’Keeffe sale, the cavern between the men’s and women’s […]

You Ought to Have a Look: The Weather According to Maue, Comments on EPA Power Plant Rules, the Government Bogarts the Weed

Patrick J. Michaels and Paul C. "Chip" Knappenberger You Ought to Have a Look is a feature from the Center for the Study of Science posted by Patrick J. Michaels and Paul C. (“Chip”) Knappenberger. While this section will feature all...Show More Summary

Cato Connects on Immigration

Caleb O. Brown This morning I sat down for a live online discusssion with Alex Nowrasteh to discuss the policy implications of President Obama’s plan to delay deportations for potentially millions of undocumented immigrants. Cato Connects: Executive Action on Immigration

How Hot Does It Have to Be to Break a Record?

Patrick J. Michaels So who hasn’t seen one of the bajillion recent stories saying 2014 is going to set the instrumental record for the highest average global surface temperature? May we throw a teense of cold water on that hot news? Annual temperatures are calculated by averaging up monthly readings, so the last data point that we have is October. Show More Summary

Iran's Economy, With and Without a P5+1 Agreement

Steve H. Hanke and Dr. Garbis Iradian The haggling between Iran and the so-called P5+1—the permanent members of the United Nations Security Council, plus Germany—is scheduled to come to a close on Monday, November 24 th. The two parties each want different things. Show More Summary

The Great Zynga Reset

At companies where pampering employees has always been part of the culture, it is hard to stop if business turns sour. Zynga Inc. shares have fallen more than 80% since 2012 as the game maker struggles to find a follow-up hit to “Farmville.” Before going public in 2011, Zynga began serving lunch and dinner daily […]

Announcing Ethics & Economics Education of New England

I am pleased to be a part of a new initiative to teach moral philosophy, economics, and public policy to high schoolers and policymakers, Ethics and Economics Education of New England (E3NE). High schoolers get too little instruction in economics and usually none at all in moral philosophy, at the moment when they are first […]

Assorted links

1. What Larry Summers is thankful for.  And Larry Summers reviews Too Big To Jail, an important book in his view. 2. Trying to predict the Supreme Court. 3. More evidence for The Great Factor Price Equalization. 4. The importance of Great Medieval Thinkers. 5. The liquidity monster that awaits. 6. The Karl Marx credit […]

Ebola: Human Progress is the Best Medicine

Chelsea German With the media frenzy over Ebola now thankfully fading, let us view the outbreak within the context of humanity’s continually improving ability to solve new problems. Today, the world is better prepared than it has ever been to respond to an outbreak of an infectious disease. Show More Summary

Obama's Executive Action Is Good Policy, Bad Law, and Terrible Precedent

Ilya Shapiro In an excellent speech combining reasoned policy arguments, appeals to American ideals, touching anecdotes, and well-selected Scripture, President Obama launched significant positive reforms to an immigration (non-)system that I’ve long called the worst part of the U.S. Show More Summary

Government Must Honor Its Contracts

Ilya Shapiro and Gabriel Latner Virtually every aspect of government’s work depends on contracts, whether they be with manufacturers of naval ships, civilian contractors, the companies that sell office supplies, or the landlords who lease the office space that houses the vast bureaucracy. Show More Summary

There's Room for Direct Democracy in a Republic

Ilya Shapiro and Julio Colomba Not many people know that there’s a clause in the Constitution that charges Congress with guaranteeing every state a “republican form of government.” Even fewer people are aware of exactly what that means. Historically,...Show More Summary

Latest Essays in Cato's Growth Forum

Brink Lindsey Cato’s online forum on reviving growth features the following new essays today: 1. Steven Teles takes aim at regressive rent-seeking. 2. Alex Nowrasteh explains the benefits of high-skill immigration. 3. Eric Toder argues for corporate tax reform. 4. Derek Khanna wants to unleash entrepreneurs.

Freedom of Contract in Corporate Governance: Let Bylaws Be Bylaws

Walter Olson To the extent America has made progress in recent years in rolling back the extreme litigiousness of earlier years, one main reason has been the courts’ increased willingness to respect the libertarian and classical liberal principle of freedom of contract. Show More Summary

Deirdre McCloskey has a 55-page review essay on Piketty

You will find it here (pdf), forthcoming in the Erasmus Journal of Philosophy and Economics. For the pointer I thank Ray Lopez, who in turn drew upon Patrick R. Sullivan, a commentator at The Money Illusion.

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