Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:5371
Posts / Week:12.6
Archived Since:March 2, 2008

Blog Post Archive

The End of British Coal

(May 3, 2016 04:10 PM, by David Henderson) I was going through my pile of unread Wall Street Journals over the weekend and found this news story: Scott Patterson, "End of an Era: England Closes Its Last Deep Coal Mine," December 11, 2015. Here's one key paragraph: The... (2 COMMENTS)

Japan's catastrophic yen-quake

(May 2, 2016 10:29 AM, by Scott Sumner) Back on March 11, 2011, Japan was hit by the worst national disaster to strike a developed country in modern times. Last week, Japan was hit by a human made disaster with a comparable effect on the economy (albeit obviously... (11 COMMENTS)

Lucas on Keynes and "spending flows"

(May 3, 2016 10:20 AM, by Scott Sumner) If you rely on bloggers like Paul Krugman and Brad DeLong, you'll end up with a very crude caricature of Robert Lucas's views on macro. The following was from a 2003 Lucas paper (sent to me by Marcus Nunes), which... (0 COMMENTS)

Exploring the Place Premium

(May 3, 2016 12:32 AM, by Bryan Caplan) Clemens, Montenegro, and Pritchett continue to expand the frontiers of human knowledge about migration. Their latest working paper, "Bounding the Price Equivalent of Migration Barriers," mostly measures the total wage effect of globally relocating identical workers. But it closes by... (0 COMMENTS)

Victims of Communism Day

(May 2, 2016 05:30 PM, by Emily Skarbek) Yesterday Ilya Somin reminded readers of the Washington Post of his ongoing support for changing May 1st from a celebration of communists, socialists, and labor unions - to a holiday that commemorates the millions who have died because of communist... (1 COMMENTS)

Anger B&B

(May 2, 2016 02:30 PM, by David Henderson) But the standard rendition of the B&B [Bootleggers and Baptists] story leaves out something that bootleggers and Baptists need to achieve their goals: emotion. One of the common emotions is anger, and the group whose anger is most important is... (0 COMMENTS)

What the Primaries Mean

(May 2, 2016 12:00 AM, by Bryan Caplan) Donald Trump has wildly exceeded electoral expectations at every stage of the election. But betting markets still say he has but a 20% chance of winning the presidency. Isn't Trump's record of success after success strong evidence that he's far... (0 COMMENTS)

More from Lester Thurow

(May 1, 2016 11:03 AM, by David Henderson) In my post on the late Lester Thurow on April 15, I promised to post more from his book The Zero-Sum Society. Here are some further excerpts. Thurow as Ludwig von Mises Proposition VII: Regulation Leads to Regulation Since individual... (0 COMMENTS)

The Uberization of Banking

(April 30, 2016 03:22 PM, by David Henderson) But isn't SoFi cherry-picking loans? Absolutely. Why can't banks do this? Because if you use depositor money for loans, as all banks do, you fall under the jurisdiction of the Federal Deposit Insurance Corp. and the Community Reinvestment Act, which... (2 COMMENTS)

The Real Adam Smith

(April 30, 2016 01:05 PM, by Emily Skarbek) I have just come across a nice two part documentary on Adam Smith available at Free to Choose TV. The videos give those unfamiliar with Smith's thought a good introduction to his life and work in both the Theory of... (0 COMMENTS)

A new study supports The Midas Paradox

(April 30, 2016 11:11 AM, by Scott Sumner) In my book entitled The Midas Paradox, I argued that FDR's NIRA wage program set back economic recovery by almost 2 years. Prior to the wage increase, industrial production had surged by 57% in 4 months, mostly due to the... (0 COMMENTS)

Zywicki on Debt

(April 29, 2016 06:50 PM, by David Henderson) The headlines are alarming. The New York Times panicked that Americans are "Running in Debt" and just a few years later warned that Americans were "Borrowing Trouble." Business Week asked, "Is the Country Swamped with Debt?" and U.S. News and... (1 COMMENTS)

The End of Doom and Cost-Benefit Methodology

(April 29, 2016 12:13 AM, by Bryan Caplan) Like all useful tools, cost-benefit analysis is flawed. After surveying cost-benefit analyses of global warming and warming abatement, Ron Bailey's The End of Doom turns to methodological objections. From his section on "How Much to Insure Against Low Probability Catastrophic... (0 COMMENTS)

Incomes, Spending, and Saving

(April 28, 2016 08:24 PM, by David Henderson) Earlier this month, I read two articles that were somewhat eye-opening to me about various Americans' views and actions on income, spending, and saving. One, which got a lot of play, was Neil Gabler's piece in The Atlantic, "The Secret... (0 COMMENTS)

Once again, the Fed was wrong

(April 28, 2016 11:32 AM, by Scott Sumner) About 2 years ago, I predicted that 3% NGDP growth was the new normal. At the time, the Fed predicted significantly higher trend growth (both RGDP and NGDP.) The Fed has a big NGDP problem. It's becoming increasingly clear that... (0 COMMENTS)

Vargas Llosa on populism and perfectionism

(April 28, 2016 07:08 AM, by Alberto Mingardi) Mario Vargas Llosa has recently turned 80: his birthday was saluted with a great celebration in Madrid, with a two-days conference organised by the Fundacion Internacional Libertad. Vargas Llosa gave a splendid speech at his birthday dinner, along the lines... (0 COMMENTS)

Global Warming, Cost-Benefit Analysis, and The End of Doom

(April 28, 2016 12:04 AM, by Bryan Caplan) I learned Austrian economics over a year before I started learning regular economics. The Austrians taught me to stonewall all cost-benefit analysis with methodological objections. It took me years to see the emptiness of their approach. Cost-benefit analysis is imperfect,... (0 COMMENTS)

Does Tesla offer an end run around bad regulations?

(April 27, 2016 09:33 PM, by Scott Sumner) Here's Matt Yglesias discussing Uber: App-based ride hailing was a game changer in this context, not just because it offered a somewhat better way to get a ride, but because in Uber's earliest cities it exploited loopholes in the way... (1 COMMENTS)

Early American Immigrants

(April 27, 2016 04:03 PM, by David Henderson) Scott Alexander has written a fantastic review of David Fischer's Albion's Seed. The book is about early immigration to the Eastern United States. Alexander gives a nice summary of each of the 4 immigrant groups, along with some really interesting... (1 COMMENTS)

Two Alienated Questions

(April 27, 2016 12:02 AM, by Bryan Caplan) I am deeply alienated from the society in which I live. I regard our policies as criminal, and politicians of both major sides as evil people. My assessment of our society's opinion leaders is similar, though milder and less categorical.Many... (0 COMMENTS)

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