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Links 5/3/16

DNA secrets of Ice Age Europe unlocked BBC (martha r) Quaker Oats Faces Lawsuit Over 100% Natural Claims Fortune (martha r) Horizon ‘knowingly’ underpaid patient claims, former exec charges in lawsuit NJ.com (martha r)

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)

?Sumner Redstone must testify in his competency case

The trial judge has ruled the ailing 94-year-old media mogul can do so via video from his home

Tuesday: Auto Sales

Tuesday:• All day, Light vehicle sales for April. The consensus is for light vehicle sales to increase to 17.3 million SAAR in April from 16.6 million in March (Seasonally Adjusted Annual Rate).A few excerpts from a research piece by...Show More Summary

Supreme Court weighs in on $15 minimum wage

Movement to raise baseline pay for U.S. workers faces crucial legal test, as justices asked to consider Seattle wage hike

Nobody Said That - NYTimes.com

: [Nobody Said That - NYTimes.com](http://www.nytimes.com/2015/04/27/opinion/paul-krugman-nobody-said-that.html?partner=rss&emc=rss&_r=0): "Nobody Said That APRIL 27, 2015 Paul Krugman Continue reading the main storyShare This Page Email...Show More Summary

Current account deficits don’t matter

There are many things that we teach our undergrads, which then get forgotten (or rejected, if I must be polite) by professional economists.  The minimum wage costs jobs, low interest rates don’t mean easy money, trade with China benefits the US, monetary policy remains highly effective at zero rates, etc., etc.  I taught all these […]

It's Actually Not Hard to Distinguish Between Quantitative Easing and Currency Management

A NYT article on Donald Trump's threats to impose high tariffs on Chinese imports discussed the possibility that Trump might seek rules that addressed policies aimed at currency management. The piece included the strange assertion that: "A...Show More Summary

The United States Has Stockpiled a Grotesque Surplus of American Cheese

The words “cheese surplus” should be inherently joyful—sort of like “birthday cake” or “birth of your first child.” And yet I am having trouble mustering much glee over the news that U.S. cheese inventories have reached a 30-year high of 1.2 billion pounds, because for the past year it seems we've mostly stockpiling a whole bunch of American. U.S. Show More Summary

?Some nonprofit hospitals are among the most profitable

A new report showing which hospitals make money on patient care is adding fuel to a battle over paying state taxes

?Does a gap year after high school pay off?

Like Malia Obama, more students are taking a break before entering college, but it helps to have financial means

Drowning in debt, Puerto Rico calls on Congress for help

Governor attacks hedge-fund creditors as "vultures," warns of default unless lawmakers let island declare bankruptcy

All states are purple states

Scott Alexander has a wonderful post reviewing Albion’s Seed.  At the end he discusses how four groups of immigrants from Britain still affect our culture today, particularly the red state/blue state phenomenon: Before I had any idea about any of this, I wrote that American society seems divided into two strata, one of which is […]

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)

Classic First-World-Problem Lawsuit: Woman Accuses Starbucks of Putting Too Much Ice in Iced Coffee  

We live in a world of misaligned consumer expectations—one in which Caesar salad is mostly iceberg lettuce, “fancy mixed nuts” means peanuts with a sprinkling of cashews, and a paid Netflix subscription comes with those pesky in-house ads. Show More Summary

Growth of Income and Welfare in the U.S, 1979-2011

From the NBER: Growth of income and welfare in the U.S, 1979-2011, by John Komlos, NBER Working Paper No. 22211 Issued in April 2016: We estimate growth rates of real incomes in the U.S. by quintiles using the Congressional Budget.....

2:00PM Water Cooler 5/2/2016

Today's Water Cooler: TTIP, Trump and the red button, Clinton Foundation, manufacturing (ugh), the 420, feral cats, the Soviet Internet

Fed Survey: Banks ease Standards on Residential Real Estate, Credit Quality in Oil Regions "deteriorated somewhat"

From the Federal Reserve: The April 2016 Senior Loan Officer Opinion Survey on Bank Lending PracticesRegarding loans to businesses, the April survey results indicated that, on balance, banks tightened their standards on commercial and...Show More Summary

Construction Spending increased 0.3% in March

Earlier today, the Census Bureau reported that overall construction spending increased 0.3% in March compared to February:The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2016...Show More Summary

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