Homines libenter quod volunt credunt
Posted in Macroeconomics on Mar 14th, 2011
Later down in the comments on Russ’s last post, John Papola (the director of Fear the Boom and Bust) wrote brilliantly: If keynesians REALLY believed their framework, they would be the most outspoken enemies of everything which makes prices and wages more rigid. They don’t. I’ve never seen it. The degree of wage stickiness is […]
Posted in Macroeconomics on Mar 14th, 2011
In a response to this Russ Roberts post, Tim Worstall argues: “My eleven year-old understands that spending on rebuilding means less spending on something else.” Now introduce savings into your 11 year old’s model. Either that people will do less saving because they are rebuilding or that they will draw down their savings to rebuild. […]
Posted in Environment, Taxation, Welfare State on Mar 14th, 2011
According to this paper: Our simulations cover the period from 2015 to 2105, and assume stable energy demand elasticities and energy efficiency improvement factors. Using an elasticity carbon pricing method, we calculate implied revenues of roughly 6% of Gross World Product (GWP) on average across the whole time period. Allow me to translate. These guys […]
Posted in Methodology on Mar 14th, 2011
I am firmly convinced that I could obtain funding to do any research I want in any area so long as I discuss obesity or global warming. This paper investigates how accountability pressures under No Child Left Behind (NCLB) may affect children’s rate of overweight. Schools facing increased pressures to produce academic outcomes may reallocate […]
Posted in Politics, Voluntary Society, Welfare State, You Can't Have it Both Ways on Mar 14th, 2011
It would be very difficult to make a convincing case that the world of 2011 is horrible by any reasonable standard. We are richer, healthier, and wiser. Beyond that, there are a lot more people who get to enjoy living today than at any time in the past. This must count for something. With that […]
