Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:5776
Posts / Week:12.8
Archived Since:March 2, 2008

Blog Post Archive

Democracy: Trust the system, not the leaders

(September 22, 2016 01:45 PM, by Scott Sumner) Like Bryan Caplan, I have a strong distaste for politicians. Especially this year. But I have a more favorable view of democracy than Bryan does. I see democracy as being superior to all other systems, for standard "wisdom of crowds"... (1 COMMENTS)

Incentives and Get Out the Vote

(September 22, 2016 02:03 AM, by David Henderson) Although I still think Hillary Clinton is likely to win the presidency, both she and some of her supporters are unwittingly undercutting one of her big advantages: her "get out the vote" effort. Clinton is leaving nothing to chance, putting... (0 COMMENTS)

The oil price collapse: Tax cut or reallocation?

(September 21, 2016 05:52 PM, by Scott Sumner) Just about all economists agree that a sudden dramatic increase in oil prices is likely to be bearish for the US economy. Of course that's not always the case (for "never reason from a price change" reasons), but it's usually... (1 COMMENTS)

The Case for Voting

(September 21, 2016 03:18 PM, by David Henderson) As I noted in "My Case for Activism," I found co-blogger Byran Caplan's objection to voting underwhelming. To be fair, he wasn't saying that other people shouldn't vote; rather, he was saying that he found voting "traumatizing." Six days after... (3 COMMENTS)

Archiving, Preservation, and History: Eric Wakin on EconTalk

(September 21, 2016 10:39 AM, by Amy Willis) What does an x-ray of Hitler's skull have in common with a jar of Ronald Reagan's jelly beans? They are both part of the Hoover Institution archives. And they remind us of our human attraction to the material, a... (0 COMMENTS)

Globalization is not the problem, it's the solution

(September 20, 2016 09:47 AM, by Scott Sumner) Here's Dani Rodrik: A Chinese student once described his country's globalization strategy to me. China, he said, opened a window to the world economy, but placed a screen on it. The country got the fresh air it needed -- nearly... (3 COMMENTS)

Value-Added and Social Desirability Bias

(September 20, 2016 12:06 AM, by Bryan Caplan) Chetty, Friedman, and Rockoff's research on teacher value-added is widely interpreted as an argument for giving good teachers a fat raise. Obama's 2012 State of the Union speech practically quotes their abstract: At a time when other countries are doubling... (0 COMMENTS)

Can U.S. Presidents Much Affect the U.S. Economy?

(September 19, 2016 03:46 PM, by David Henderson) One of my favorite newspaper columnists, Steve Chapman of the Chicago Tribune, has written an article titled "Trump's Economic Fraud." It's partly about what the title says it's about but it's mainly about the question I ask in the title... (0 COMMENTS)

The One Way Conservative Students Are More Libertarian Than Libertarian Students

(September 19, 2016 12:01 AM, by Bryan Caplan) Cato's Conservative-Libertarian Debate exit survey is fascinating throughout. The most striking result is on the following question:Q23. Do you favor or oppose a law in your state that would allow businesses to refuse service to customers for religious reasons?Survey says:The... (0 COMMENTS)

Balance Sheet Anxiety (What almost everyone gets wrong)

(September 18, 2016 02:23 PM, by Scott Sumner) The Wall Street Journal has a very interesting story on the BOJ, which faces an important policy decision on Wednesday: Until recently, Bank of Japan Gov. Haruhiko Kuroda managed to keep a fragile majority on the nine-member board in favor... (0 COMMENTS)

Statistical Significance is Not the Same as Economic Significance

(September 18, 2016 10:43 AM, by David Henderson) They [Hong Ru and Antoinette Schoar] find that less-educated households were offered higher late fees, over-limit fees, and default penalty rates, as well as more upfront inducements, such as low introductory APRs, cash back, and waivers of annual fees. In... (0 COMMENTS)

The Corruption of Politics

(September 18, 2016 02:11 AM, by David Henderson) Various people have commented on the leaked emails of former Secretary of State Colin Powell. In them, he made candid comments about various major politicians whom he knows and interacted with. Here's the one about Hillary Clinton I found most... (0 COMMENTS)

For the Separation of Stadium and State

(September 17, 2016 03:15 PM, by David Henderson) The title of this post is the same as the title of an article by Jonah Goldberg about the Colin Kaepernick incident. (If you haven't been paying attention to the NFL lately, here's the summary: Kaepernick is a San Francisco... (0 COMMENTS)

GMU's Visionary

(September 16, 2016 12:08 AM, by Bryan Caplan) Last week, my colleague Dan Klein kicked off the Public Choice Seminar series. During the introduction, I recalled some of his early work. But only after did I realize how visionary he's been. In 1999, when internet commerce was still... (0 COMMENTS)

The Fed is planning for failure

(September 15, 2016 11:50 AM, by Scott Sumner) Over at, Narayana Kocherlakota has a nice post discussing the Fed's plan for the next recession. He provides some graphs showing alternative policy paths: Kocherlakota comments: She [Yellen] views this black-line outcome as a demonstration that the Fed's existing... (4 COMMENTS)

Jonathan Lipow on the Role of Government

(September 15, 2016 02:00 AM, by David Henderson) As such, those on the left or the right of America's political spectrum may regard the proposals I offered in this book as an incoherent hodgepodge. Following my son's advice, I totally deny that and instead make a counteraccusation: many... (0 COMMENTS)

Machine Learning, Big Data, and Causation: #TWET

(September 14, 2016 12:05 PM, by Amy Willis) Perhaps you've grown accustomed to EconTalk host Russ Roberts bemoaning the limits of statistical analysis...Well fasten your seat belts and get ready for a data-driven ride in this week's episode with Stanford University's Susan Athey. Athey's research centers on... (0 COMMENTS)

The Dynamics of Poverty

(September 14, 2016 06:45 AM, by David Henderson) Every year at this time, when the U.S. Census comes out with its report on incomes and poverty, there is a special section titled "The Dynamics of Poverty." It always shows that there is mobility between income categories, even in... (0 COMMENTS)

Truman Bewley Comes to GMU

(September 14, 2016 12:06 AM, by Bryan Caplan) Today Truman Bewley comes to GMU. I've been singing his praises for years; while Bill Dickens is the man who taught me to see to the grave evil of unemployment, Bewley's the man who taught me in great detail how... (1 COMMENTS)

The Secret Stimulus: Another fiscal failure?

(September 13, 2016 03:52 PM, by Scott Sumner) I don't follow fiscal policy closely, because I don't think it impacts the business cycle. But most economists disagree with me, and many are recommending fiscal stimulus. I argue that fiscal stimulus has no demand-side effects when the Fed is... (6 COMMENTS)

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