Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:5633
Posts / Week:12.7
Archived Since:March 2, 2008

Blog Post Archive

Sunday Reading

(August 28, 2016 12:26 PM, by David Henderson) On Gary's goofs, smugglers solve alleged public good problem, FDA-caused massive deaths, and reparations from descendants of slave owners. These are some of the most interesting things I found on the web this morning. 1. Robert Murphy on Gary Johnson's... (0 COMMENTS)

The Monster in the Mirror

(August 28, 2016 10:43 AM, by Scott Sumner) I seem to vaguely recall a horror story where the protagonist searches everywhere for the monster, and at the end sees himself in the mirror, realizing that he is the monster. If there is no such story, there should be.... (0 COMMENTS)

Low interest rates: They are not easy money, and they're here to stay

(August 27, 2016 10:25 AM, by Scott Sumner) In recent months the rest of the world has finally begun to accept the market monetarist view that interest rates are likely to stay low indefinitely. But there's still a lot of confusion as to the reasons why. The Financial... (0 COMMENTS)

NGDP targeting in Australia?

(August 26, 2016 10:38 AM, by Scott Sumner) There is a sudden interest in NGDP targeting in Australia. Here's Greg Jericho, in the Guardian: For the most part economic debate can revolve around the margins, with few bold ideas promulgated. This week however, Senator Nick Xenophon proposed a... (0 COMMENTS)

Neurotic Politics

(August 26, 2016 12:11 AM, by Bryan Caplan) Neuroticism - the tendency to experience negative emotions like anger, fear, and sadness - is a pillar of the Five Factor Model of personality. Human beings routinely attribute their emotions to external circumstances. For proximate causes, they're often right. The... (0 COMMENTS)

Metzger on Headline Dismay Minimization

(August 25, 2016 12:16 AM, by Bryan Caplan) Interesting reaction to Tuesday's post from my friend Perry Metzger. Perry, with his permission:My biggie is the number of people who die from medical errors and bad hygiene in hospitals. It's thousands a day globally. Unlike the global murder problem,... (0 COMMENTS)

#TWET...Slavery & Racism

(August 24, 2016 01:33 PM, by Amy Willis) Incentives matter, sure. But isn't there a limit to what institutional analysis can (and ought) explain? That's what lingering in my mind after listening to this week's EconTalk episode with everybody's favorite guest, Mike Munger of Duke University. How... (0 COMMENTS)

The Fall 2016 Public Choice Center Seminar Series

(August 24, 2016 12:02 AM, by Bryan Caplan) This academic year, I'm in charge of the Public Choice Center Seminar series. Seminars are normally on Wednesdays from 12:00-1:15 PM, and are open to the public. Since I am not a fan of actually-existing seminars, I'm experimenting with a... (0 COMMENTS)

The Twenty-Niners

(August 23, 2016 03:38 PM, by David Henderson) "We're Hiring Economics Writers," says the headline of a post at the web site FiveThirtyEight. Good for them. Then they write: This is a part-time staff position (up to 29 hours per week) and does not offer benefits. Any idea... (0 COMMENTS)

Tyler Cowen on NGDP targeting

(August 23, 2016 12:08 PM, by Scott Sumner) Here's Tyler Cowen: The thing is this: whether rationally or not, the American public hates higher rates of price inflation. Perhaps they mis-sample or mis-estimate prices, or perhaps the higher prices really do erode their real wages in a way... (0 COMMENTS)

Equilibrium and Foresight

(August 23, 2016 07:02 AM, by Emily Skarbek) A recent piece by Raphaële Chappe discusses the uses and limitations of general equilibrium theorizing. The post is a long-read, but Chappe briefly summarizes the point when she writes:...the theory lacks explanatory relevance, providing instead a language through which... (0 COMMENTS)

Headline Dismay Minimization

(August 23, 2016 12:32 AM, by Bryan Caplan) Evaluate this simple cynical theory of what almost every politically aware person really wants: Minimizing the negative emotions they personally experience when they read/see/hear top news stories. In other words, the politically aware strongly care about even objectively minor problems... (0 COMMENTS)

An ITT I Cannot Pass

(August 22, 2016 10:25 AM, by Bryan Caplan) I pride myself on my ability to fairly and accurately explain views with which I disagree. I've tried to enshrine this skill in what I call the Ideological Turing Test - the ability of non-believers to mimic believers in a... (0 COMMENTS)

Huemer's "Relativism and Tyranny"

(August 22, 2016 12:54 AM, by Bryan Caplan) The latest installment in my lost works of Michael Huemer series is his 1992 essay, "Relativism and Tyranny." The paper begins with an infamous quote from 1984, then distinguishes nine theses moral relativists (whether self-conscious or by default) routinely equivocate... (0 COMMENTS)

Do Steps Toward Freedom Create Net Benefits?

(August 21, 2016 10:16 PM, by David Henderson) Noah Smith recently wrote a piece titled "Being an Ideologue Means Never Having to Say You're Wrong." It starts out well. He writes: "Communism would have worked, if the Soviet Union had only tried it for real." I must have... (0 COMMENTS)

Disputes don't get resolved, they get swept under the rug

(August 20, 2016 11:54 AM, by Scott Sumner) This post will be about macro theory, but let's with a related example. You are a libertarian and your best friend is also a libertarian. You tend to see eye to eye on most issues, favoring small government. Then some... (0 COMMENTS)

Rio Reality Check

(August 19, 2016 10:03 AM, by Amy Willis) My family has been enjoying watching the Olympics over the past couple of weeks. The spectacle of sport can be inspirational. (And with a young swimmer in the house, we are ALL about Katie Ledecky and Michael Phelps.) If... (0 COMMENTS)

Social Security Reformer

(August 18, 2016 03:57 PM, by David Henderson) The Committee for a Responsible Federal Budget has come up with a very clever tool. It's called "The Reformer: An Interactive Tool to Fix Social Security." Notice that it's to fix Social Security, not what I would like to see,... (0 COMMENTS)

The intellectual as a celebrity

(August 18, 2016 07:14 AM, by Alberto Mingardi) The Financial Times has published a collective interview on "how to detox digitally in the sun": that is, a set of conversations with famous people on tips to make the most out of your holidays. This is, typically, material for... (0 COMMENTS)

The Immigration/Labor Demand Elasticity Puzzle

(August 18, 2016 12:04 AM, by Bryan Caplan) While labor demand elasticity is pretty clearly negative, virtually all estimates have an absolute value less than 2. Yet estimated effects of immigration on native wages are tiny. Kerr and Kerr's summary is typical.The documented wage elasticities are small and... (3 COMMENTS)

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