Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:5869
Posts / Week:12.8
Archived Since:March 2, 2008

Blog Post Archive

What do criminal records tell us about Adam Smith and the Industrial Revolution?

(October 30, 2016 05:08 AM, by Emily Skarbek) Adam Smith's central example of technological change and improvement in consumer-durables was the watch. When writing the Wealth of Nations, he hypothesized that the price of watches fell nearly 95% over the past century. This diminution of price has, in... (0 COMMENTS)

Japan refutes old Keynesianism

(October 29, 2016 01:58 PM, by Scott Sumner) Over at TheMoneyIllusion I have a post lamenting the recent revival of old Keynesian ideas. It occurred to me that Japan is an almost perfect refutation of these theories. In particular, Japan shows that: 1. Inflation is not caused by... (0 COMMENTS)

AT&T, Time-Warner and the end of competition

(October 29, 2016 07:38 AM, by Alberto Mingardi) The AT&T and Time-Warner merger is attracting considerable attention. The idea of "convergence" between telcos and content providers has been around for quite a while. Still, the idea of "convergence" needs to be tested via the market process. Integrating production... (0 COMMENTS)

The CEA's Mixed Thinking on Labor Market Monopsony, Part II

(October 28, 2016 04:21 PM, by David Henderson) Yesterday, I posted on the basics of monopsony in the labor market, with a promise to critique the CEA report on monopsony, occasionally referring to Adam Ozimek's excellent, but shorter, critique. In what follows, I go through the CEA report... (0 COMMENTS)

Is the data "rigged"?

(October 28, 2016 02:37 PM, by Scott Sumner) We live in an age where everything official seems to be distrusted. Trump has suggested that the government's unemployment data is incorrect, and that the actual rate may be as high as 40%. Some economists on the left also question... (0 COMMENTS)

Laureate Lessons for Education

(October 28, 2016 01:45 PM, by Amy Willis) We've reported on this month's announcement of the Nobel prize to Oliver Hart and Bengt Holstrom. (Here is David Henderson's always excellent commentary in the Wall Street Journal.) Since then, this piece in Education Next caught my eye. It... (0 COMMENTS)

The CEA's Mixed Thinking on Labor Market Monopsony, Part I

(October 27, 2016 05:18 PM, by David Henderson) This month, the President's Council of Economic Advisers issued a 21-page report on labor market monopsony. It's titled "Labor Market Monopsony: Trends, Consequences, and Policy Responses." As with many reports issued by economists who are paid by government, it has... (0 COMMENTS)

Yet Another Reply to Huemer on the Ethical Treatment of Animals

(October 27, 2016 12:00 AM, by Bryan Caplan) At risk of taxing readers' patience, here's my rejoinder to Mike Huemer's last guest post on the ethical treatment of animals. He's in blockquotes, I'm not.My main reactions:I. The argument from insects has too many controversial assumptions to be useful.... (0 COMMENTS)

Robert Tollison, RIP

(October 26, 2016 08:33 PM, by David Henderson) Many people have already done obits and reminiscences of Robert Tollison, a 73-year-old economist who died in his sleep on Monday. My two favorite are Pete Boettke's and this one at the Liberty Mortuary in Liberty, South Carolina. Most... (0 COMMENTS)

Cuba Libre?

(October 26, 2016 06:49 PM, by Amy Willis) Would you like to visit Cuba? If so, what would you expect to find? In this week's EconTalk episode, host Russ Roberts welcomed back Casey Mulligan, who recently had just such an experience. I've always wanted to visit Cuba... (0 COMMENTS)

21st century Vikings

(October 26, 2016 02:37 PM, by Scott Sumner) This Washington Post article caught my eye: REYKJAVIK, ICELAND -- The party that could be on the cusp of winning Iceland's national elections on Saturday didn't exist four years ago. Its members are a collection of anarchists, hackers, libertarians and... (0 COMMENTS)

Does Stress Over Politics Mean You Need to Get a Life?

(October 25, 2016 11:52 PM, by David Henderson) On his other blog, co-blogger Scott Sumner quotes a news article as follows: For all their sharp differences, supporters of Hillary Clinton and Donald Trump have one thing in common: election-related stress. Nearly half of all likely voters in the... (0 COMMENTS)

Robert Tollison, 1942-2016: We're All Part of the Equilibrium

(October 25, 2016 09:38 AM, by Bryan Caplan) My former colleague Robert Tollison has passed away. I still remember the tour of Carow Hall he gave me when I was interviewing in 1997. Though we only overlapped at GMU for one year, he was an unforgettable personality. My... (0 COMMENTS)

Elections Are Surveys: The Case of AIP

(October 25, 2016 12:15 AM, by Bryan Caplan) My Myth of the Rational Voter argues that elections are surveys. The essence of a survey is that you state an opinion, knowing beyond a reasonable doubt that nothing will actually happen as a result of your statement. While there... (0 COMMENTS)

Saving cannot go "into" existing assets

(October 24, 2016 05:59 PM, by Scott Sumner) Every so often I need to push back against common misconceptions regarding saving and investment. The comment section of my previous post provided a few examples, starting with "pyroseed13": In a less risk-averse and more economically free environment, savings would... (1 COMMENTS)

Canada Can't Dodge Two Bullets

(October 24, 2016 04:01 PM, by David Henderson) At this writing, the odds that Hillary Clinton will defeat Donald Trump for the U.S. presidency are very high. If your concern is trade between Canada and the United States, Canada dodged a bullet. Donald Trump is hostile to trade,... (0 COMMENTS)

The WSJ's odd critique of the Fed

(October 24, 2016 11:06 AM, by Scott Sumner) This article in the Wall Street Journal left me scratching my head: The Fed, Not the Market, Is Stifling Growth That's the title, and I eagerly looked forward to an explanation, perhaps a criticism of the Fed rate increase last... (7 COMMENTS)

The Huemer Graph

(October 24, 2016 12:08 AM, by Bryan Caplan) The latest reply from Mike Huemer on the ethical treatment of animals, this time with a cool graph.Bryan Caplan posted this further comment on animal welfare arguments on his blog. I didn't have time to address this earlier (partly because... (0 COMMENTS)

Two approaches to macroeconomics

(October 23, 2016 11:10 AM, by Scott Sumner) Here's an abstract from a paper by Erich Pinzón-Fuchs: This paper discusses a longstanding debate between two empirical approaches to macroeconomics: the econometrics program represented by Lawrence R. Klein, and the statistical economics program represented by Milton Friedman. I argue... (0 COMMENTS)

Krugman's Strange View About Planning for the Future

(October 22, 2016 03:05 PM, by David Henderson) Paul Krugman, in a post today titled "Debt, Diversion, Distraction," argues, as his title implies, that we get diverted and distracted from more important issues if we worry about the coming high deficits and debt. His reasoning is faulty. First,... (1 COMMENTS)

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