The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. – F.A. Hayek
Posted in Education on Feb 21st, 2008
The factory will cost $800 million to build, with the federal and provincial governments kicking in $125 million of that to help cover research, training and infrastructure costs.Several U.S. states were reportedly prepared to offer more than double that amount of subsidy. But Fedchun said much of that extra money would have been eaten away [...]
Posted in You Can't Have it Both Ways on Feb 20th, 2008
It is understandable that some people are concerned about state and local governments selling government owned (i.e. commons) property to private companies and investors. Recent examples include roads in Chicago and proposals to sell the Golden Gate Bridge and other properties. While I believe these deals make a great deal of economic sense, and will [...]
Posted in Flotsam and Jetsam, Money on Feb 19th, 2008
As of February 17, 2008 in the National Hockey League (NHL) 25 of the 30 teams are showing a winning record. My team, the New York Rangers, are 29-24-7 – which seems pretty good, until one realizes that this record represents them winning less than half of their games (the 7 stands for overtime loss). [...]
Posted in Politics on Feb 17th, 2008
Tyler Cowen’s latest NY Times column, “It’s An Election, Not a Revolution,” is a gem. Here is one of many fine excerpts:
We hear so many superficial messages precisely because most American voters have neither the knowledge nor the commitment to evaluate the pronouncements of politicians on economic issues. It is no accident that the most [...]
Posted in Education, Price System on Feb 15th, 2008
Well, across universities they are different, but it is not the case within a specific college. For example, physics majors pay the same price as philosophy majors, all else equal. But does it make sense to charge students the same exact thing for what is essentially two entirely different products? Is this equilibrium stable and [...]
Posted in Behavior on Feb 14th, 2008
And I am not the only social scientist either! It appears that the order of appearance on the show for the contestants matters. The last to perform appear to have an advantage. I have little to add aside from my public admission of being an Idol idolator.
Posted in Paternalism on Feb 11th, 2008
There is a bill on the floor of the house in Mississippi to “prohibit certain food establishments from serving food to any person who is obese, based on criteria proscribed by the state department of health.”
This nonsense makes the work of Mayor Bloomberg seem harmless. What should I rail on here? Should it be the [...]
Posted in Methodology on Feb 10th, 2008
If you’re single and yearn to live in a city with lots of other single people, Money magazine’s data suggests moving to Bloomington, Indiana, where 58.2% of the population is unattached.
Read the rest here.
If you observe that every time you wake up with a headache that you have your shoes on from the night [...]
Posted in Resources on Feb 8th, 2008
Today marks the 10th anniversary of the passing of Julian Simon. I excerpt a short passage from the preface to his masterpiece:
The longer I have read the literature about population, the
more baffled and distressed I have become that one idea is
omitted: Enabling a potential human being to come into life and
to enjoy life is a [...]
Posted in Behavior on Feb 5th, 2008
On my way into work this morning I was nearly killed by a woman who was drinking coffee and who appeared to be changing the radio station as she swerved into my lane. She was driving a brand new Volvo station wagon.
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