Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:5016
Posts / Week:12.4
Archived Since:March 2, 2008

Blog Post Archive

Krugman: Deregulate Housing

(November 30, 2015 08:49 PM, by David Henderson) Rising demand for urban living by the elite could be met largely by increasing supply. There's still room to build, even in New York, especially upward. Yet while there is something of a building boom in the city, it's far... (0 COMMENTS)

Of iPads and socialism

(November 30, 2015 02:08 PM, by Alberto Mingardi) Can we have "socialism, with an iPad"? This is the picture the Labour Shadow Chancellor recently used, with the aim of providing a somewhat modernized, albeit only symbolically, face for Jeremy Corbyn's economic proposals. Labour-leaning columnist Zoe Williams argues that... (0 COMMENTS)

Dying of Humiliation

(November 30, 2015 12:14 AM, by Bryan Caplan) Lieven's The End of Tsarist Russia subtly proposes a novel theory of Russia's disastrous entry into World War I: Millions died to spare Russia's elites from feelings of humiliation. First, Lieven sets the stage:Revolution at home had undermined the Russian... (0 COMMENTS)

The Federal Funds Target

(November 29, 2015 07:08 PM, by David Henderson) When I posted last week about monetary economist Bill Poole's incorrect claim that the Fed Reserve sets the Federal Funds rate, a number of commenters objected that my claim was trivial. Most argued that Poole's usage was close enough to... (0 COMMENTS)

The new left

(November 29, 2015 01:32 PM, by Scott Sumner) If you have been paying attention to the debate over public policy, you may have noticed that the GOP has moved even further to the right in recent decades, and the (formerly more moderate) Democrats have moved even more dramatically... (0 COMMENTS)

False Externalities

(November 28, 2015 02:20 PM, by David Henderson) However, increased consumption among youths leads to negative externalities. Raising the share of adults registered as medical marijuana patients by one percentage point increases the prevalence of recent marijuana use among adolescents and young adults by 5-6% and generates negative... (0 COMMENTS)

Paul Krugman on jobs and GDP

(November 27, 2015 04:21 PM, by Scott Sumner) In the past I've been critical of Paul Krugman's approach to austerity and business cycles. For instance, he argued that austerity in the UK led to slow growth in real GDP. I countered that RGDP is not the right variable... (0 COMMENTS)


(November 27, 2015 03:19 PM, by David Henderson) In my Executive MBA economics class a little over a week ago, I presented the following definition of a negative externality: A cost borne by someone who is not party to the decision that caused the cost. Then I asked... (0 COMMENTS)

Ram on overconfidence

(November 26, 2015 07:21 PM, by Scott Sumner) A commenter named Ram left a brilliant comment over at TheMoneyIllusion. Here it is (emphasis added): I'd contend that the main problem in America is that the public, including its highly educated members, is social-scientifically ignorant. Most people I talk... (0 COMMENTS)

Noah Smith's Unpersuasive Case

(November 26, 2015 05:21 PM, by David Henderson) Economist Noah Smith has a recent article titled "Most of What You Learned in Econ 101 Is Wrong." He doesn't actually make the case that would support that title. But he also probably didn't choose the title. However, he did... (0 COMMENTS)

Giving Thanks

(November 26, 2015 11:13 AM, by David Henderson) Here's a Thanksgiving message from my 2001 book, The Joy of Freedom: An Economist's Odyssey, from a chapter titled "The Joy of Capitalism." I pointed out in Chapter 1 that British author Thomas Carlyle called economics "the dismal science" because... (0 COMMENTS)

Always double check your claims with the AS/AD model

(November 25, 2015 04:40 PM, by Scott Sumner) Benny Lava sent me an article discussing the German opposition to Mario Draghi's proposed monetary stimulus: But on Monday, Lautenschlaeger broke with normal etiquette to publicly criticize this stance, saying that ever looser monetary policy had its limits and that... (0 COMMENTS)

No, Bill Poole, the Fed Does NOT Set the Federal Funds Rate

(November 25, 2015 12:58 PM, by David Henderson) The Fed does set the federal-funds rate--the overnight interest banks charge to lend to each other--and surely affects the timing of rate changes, but not the longer-run level. This is the second sentence of an op/ed in this morning's Wall... (0 COMMENTS)

Douglass North, RIP

(November 24, 2015 05:52 PM, by David Henderson) My Hoover colleague Doug North died yesterday at age 95. Here's his bio in The Concise Encyclopedia of Economics. And here's a statement issued by the Hoover Institution: STATEMENT BY TOM GILLIGAN DIRECTOR, HOOVER INSTITUTION, STANFORD UNIVERSITY FOR IMMEDIATE RELEASE... (0 COMMENTS)

The Fed is above the law

(November 24, 2015 11:52 AM, by Scott Sumner) This post may upset some people, but I am simply trying to describe the world as it is, not as I would wish it to be. I recently spoke with Ryan Hart, who is researching the legal status of Fed... (0 COMMENTS)

More Data or Less?

(November 24, 2015 10:41 AM, by David Henderson) My friend and Hoover colleague John Cochrane has signed a letter to four members of Congress that calls on Congress to spend more money on getting better economic data. John argues at his blog: Few public goods are as cheap... (0 COMMENTS)

The Center Will Hold: My 10:1 Bet Stands

(November 24, 2015 12:01 AM, by Bryan Caplan) Despite much gruesome Schadenfreude on Twitter, I stand by the terms of my 10:1 bet that no European country that was not Communist in 1988 will have a civil war resulting in 10,000 or more fatalities by December 31, 2015.... (0 COMMENTS)

Thinking on the Margin About Work

(November 23, 2015 03:45 PM, by David Henderson) I was talking on the phone Saturday with a friend who called to wish me happy birthday on my 65th birthday. (See what I did there? :-)) This friend is a doctor, not an economist, but I think he would... (1 COMMENTS)

Using Economics to Make Judgement Calls

(November 23, 2015 03:06 AM, by David Henderson) There are few student species more nakedly ambitious, focused, and future-oriented than the average Harvard law student. Having likely spent his undergraduate years planning admissions maximization strategies, he now has the Holy Grail almost within his grasp. Let him but... (0 COMMENTS)

Iraq: Disaster By Popular Demand

(November 23, 2015 12:08 AM, by Bryan Caplan) Here's my April, 2007 op-ed on voter irrationality that never found a home. 800x600 "Power to the people" - war protestors have been saying it for decades. The more you study public opinion, though, the more peculiar this slogan seems.... (0 COMMENTS)

Copyright © 2015 Regator, LLC