Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:5186
Posts / Week:12.5
Archived Since:March 2, 2008

Blog Post Archive

Does Contract Enforcement Require Government as a Backstop?

(January 12, 2016 04:59 PM, by David Henderson) Recently, Arnold Kling has been arguing that even when contract enforcement is totally private, it requires government as a backstop. He wrote: Taking existing institutions as an existence proof for the feasibility of an-cap is not a valid argument. The... (0 COMMENTS)

Friedman and Reynolds on Saez and Zucman

(January 11, 2016 02:31 PM, by David Henderson) This paper combines income tax returns with macroeconomic household balance sheets to estimate the distribution of wealth in the United States since 1913. We estimate wealth by capitalizing the incomes reported by individual taxpayers, accounting for assets that do not... (0 COMMENTS)

The Institutions of Forensic Science

(January 11, 2016 12:33 PM, by Emily Skarbek) Without posting any spoilers, it's fair to say that the new Netflix sensation, Making a Murderer, has sparked a significant discussion on the effectiveness of the US criminal justice system. Bravo. A much more critical attitude towards US incarceration practices... (0 COMMENTS)

Sympathy for the devil?

(January 11, 2016 09:20 AM, by Scott Sumner) In my view, rent seeking is the great evil of the modern world, largely explaining the poverty of countries like Iraq and India. The main problem in the world today is people who put the self-interest of their narrow special... (0 COMMENTS)

FDA and Patent System Discourage Research on Early Stage Cancer

(January 10, 2016 07:33 PM, by David Henderson) Last week I highlighted a comment by Econlog reader Jim Glass. Since then, I've looked closely at the study he cited. The study is titled "Do Firms Underinvest in Long-Term Research? Evidence from Cancer Clinical Trials." It's published in the... (0 COMMENTS)

The Economist Who Didn't Bark

(January 9, 2016 02:11 PM, by David Henderson) Actually, economists plural. One of my favorite Sherlock Holmes stories is "Silver Blaze" because Holmes used as evidence the fact that a dog didn't bark. In line with my relentless "glass half full" way of looking at the world, I... (0 COMMENTS)

What would an IS shock look like?

(January 9, 2016 12:10 PM, by Scott Sumner) One thing that makes it hard to discuss macroeconomics with people is the widely held assumption that changes in interest rates reflect changes in monetary policy. That misconception comes from the fact that people misinterpret the implications of two true... (0 COMMENTS)

Ridley, liberty, optimism and pessimism

(January 9, 2016 07:58 AM, by Alberto Mingardi) On our sister website, the Library of Law and Liberty, I have a review of Matt Ridley's new book, "The Evolution of Everything". Check out the comments, too. The discussion over what should or shouldn't count as "political progress" is... (0 COMMENTS)

Uberize the Economy

(January 8, 2016 01:14 PM, by David Henderson) Kay is the editor of The Walrus and has been writing about Uber, usually positively. But here, he argues that it's unfair for competition from Uber to undercut the taxicab monopoly. He could have gone two ways: (1) advocate banning... (0 COMMENTS)

Passing the buck

(January 8, 2016 11:13 AM, by Scott Sumner) The Fed has a legal mandate for price stability and high employment. Their mandate does not instruct them to stop trying if things get a bit difficult. It does not instruct them to pass the job on to the fiscal... (0 COMMENTS)

Hiring Without Signals

(January 7, 2016 09:59 PM, by David Henderson) Readers of Econlog who read co-blogger Bryan Caplan's posts know that Bryan has posted a lot on a college degree as an expensive signal to potential employers. Here are 88 posts Bryan has written on signaling. I find Bryan's argument... (0 COMMENTS)

The China currency mystery

(January 7, 2016 04:00 PM, by Scott Sumner) For the second time in six months, the world's equity markets have been roiled by a tiny downward move in the Chinese currency. It seems unlikely that this is mere coincidence. And yet I've yet to see a convincing explanation... (0 COMMENTS)

Henderson Vote Counts

(January 7, 2016 02:50 PM, by David Henderson) Jen Henderson, that is. Back in August, the blogosphere was popping with stories about a cynical group of businesses in Missouri that persuaded the city council to create a special Community Improvement District. Here's part of the news story at... (0 COMMENTS)

Thinking on the Margin

(January 6, 2016 03:19 PM, by David Henderson) The two Feature Articles for January are out this week and the first one is by me. The title is "Think on the Margin." An excerpt on buying beer: A few years ago, I went to the supermarket to buy... (0 COMMENTS)

Who's afraid of level targeting?

(January 6, 2016 01:20 PM, by Scott Sumner) Ken Duda directed me to a speech by Stanley Fischer, which lays out four options for the next time rates hit zero: 1. Negative interest on reserves 2. A higher inflation target 3. Fiscal stimulus 4. Abolition of currency It's... (0 COMMENTS)

Spooner the Constitutionalist

(January 6, 2016 07:06 AM, by Alberto Mingardi) I think the "Liberty Matters" discussions, provided by our sister-website the Online Library of Liberty, cannot be praised highly enough. If the Internet and the blogosphere don't have a shortage of libertarian themes and of many genuinely interesting and original... (0 COMMENTS)

Brian Doherty on Guns, Crime, and Gun Laws

(January 5, 2016 09:47 PM, by David Henderson) This morning when I was reading the blogs, the title of Brian Doherty's article caught my eye: "You Know Less Than You Think About Guns." Really? Well, it turns out that, if he was addressing me, he was right. His... (0 COMMENTS)

Henderson on the Lars Larson Show

(January 5, 2016 06:31 PM, by David Henderson) Talking about the 1.5% drop in the S&P 500, trade with China, and the problem with retaliatory tariffs. It's here. And my segment goes from about 85:10 to about 94:20.... (0 COMMENTS)

Three Great Comments on My FDA Post

(January 5, 2016 03:16 PM, by David Henderson) Three people, Jim Glass, Dan Klein, and db, made important comments on my FDA post yesterday. First, Jim Glass: How the patent system and the FDA discourage study of cancer prevention (quoting...) "R & D on cancer prevention and treatment... (0 COMMENTS)

Trump and/or Berlusconi

(January 5, 2016 07:27 AM, by Alberto Mingardi) Many have compared Donald Trump to Silvio Berlusconi. See Rula Jebreal, Frank Bruni, Beppe Severgnini, Christian Koppff, Beatrice Faleri. Before becoming a pundit in the US, Jebreal used to be a rather softspoken and thoughtful Italian anchorwoman. Severgnini is a... (0 COMMENTS)

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