Who could possibly have seen this coming? [Arnold Kling]: Servicing [of mortgages] has been traditionally a very low-margin business, with the whole ballgame about keeping costs low. Back in 2009, policy makers treated mortgage servicers like a piñata. Show More Summary
1. My 2006 post on how to read fast. 2. Henry Manne biography and appreciation. 3. How L.A. became a powerhouse for Chinese food. 4. Previous MR posts on Yemen. 5. Arnold Kling is right: few people understand the non-dictatorship axiom either, or the portfolio separation theorem. And political philosopher markets in everything. 6. An […]
(December 26, 2014 04:46 PM, by David Henderson) Former Econlog blogger Arnold Kling's latest post is titled "Why Did the South Not Converge?" In it, he quotes from a book by Ira Katznelson and goes on to suggest various factors behind the failure of per capita incomes in... (0 COMMENTS)
Quote of the day Bill James, “Given an option to do so, all men prefer to reject information.” (Arnold Kling) Chart of the day The […] The post Monday links: rejecting information appeared first on Abnormal Returns.
Tomorrow is Election Day. Good Riddance. Tomorrow ends the current Festival of Democracy. Because I share Arnold Kling’s view of election seasons as […]
Afterward, I found myself with a lot of negative feelings. The first act of the (short) tale can be found here. Here is one bit: I asked Baily, as an expert on productivity statistics, whether he thought that any economist would claim to have a reliable measure of bank output. “Of course not,” he replied, […]
Tyler Cowen and Arnold Kling salute the new Robert Litan book Trillion Dollar Economists, on how economists and their ideas have contributed to the world in practical ways ranging from auction design and financial innovation to telecommunications and prediction markets. Show More Summary
Arnold Kling poses that question., and he writes: Suppose that when they meet with bankers, for example, Fed officials had to wear cameras and audio recorders, which could be obtained by FOIA requests. Or suppose that IRS officials had to wear cameras, for example, when they wrote emails or engaged in discussions about dealing with […]
In my post on why economics is detested I quoted Arnold Kling: The intention heuristic says that if the intentions of an act are selfless and well-meaning, then the act is good. If the intentions are self-interested, then it is not good. In contrast, economics evaluates an act not by its intentions but by its […]
(September 23, 2014 02:03 PM, by David Henderson) Private Policy Like Arnold Kling, I found some of the information in Ezekiel Emanuel's article on aging troubling. But also, like health policy analyst Greg Scandlen, I found Ezekiel Emanuel troubling. I first saw reference to his article in a... (0 COMMENTS)
Brutal Assault on Reason Season is underway. Elections depress me. Arnold Kling sums up my feelings: To me, political campaigns […]
The average age to receive NIH research grants has gone from 38 in 1980 to 51 today. That is Ben McNeil, via Arnold Kling.
SO LOOKING IN THE ARCHIVES FOR STUFF ABOUT ROBERT FOGEL, I found this still-interesting interview by Arnold Kling.
(June 11, 2014 04:39 PM, by David Henderson) When I was a young assistant professor at the University of Rochester business school in the late 1970s, I had a picture on my desk of a cute dog saying, "I've been rich and I've been poor. Rich is better."... (0 COMMENTS)
“The right and left agree — too many occupations are overregulated” [Morris Kleiner, New York Times via Peter Van Doren, Cato; Arnold Kling] Tweet Tags: occupational licensure Occupational licensure — in the New York Times is a post from Overlawyered - Chronicling the high cost of our legal system
In an excellent review essay on Greg Clark, Arnold Kling says maybe so: On the other hand, his findings argue against the need to create strong incentives to succeed. If some people are genetically oriented toward success, then they do not need lower tax rates to spur them on. Such people would be expected to […]
(May 7, 2014 02:23 PM, by David Henderson) Our former co-blogger, Arnold Kling, has an excellent review on Econlib of Gregory Clark's latest book, The Son Also Rises. The review is titled "The Heritability of Social Status." You may have noticed that Clark, an economist historian at UC... (0 COMMENTS)
Arnold Kling ponders solutions to the hidden high tax rates on the poor in SNEP Solution: Flexible Benefits and Extreme Catastrophic […]
Most people, says Arnold Kling, are "labor-capitalists": Looking at the 21st-century economy through the filter of the Marxist categories of “capital” and “labor” is not particularly insightful. This is not a good era for either a plain coupon-clipper or an...
(April 1, 2014 10:03 AM, by Bryan Caplan) Tyler publicizes a challenge from EconLog founder Arnold Kling:I still want to see an economist reconcile a belief in secular stagnation with a belief in Piketty's claim that the return on capital is going to exceed the growth rate of... (0 COMMENTS)