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Category Archive for 'Central Planning'

I’ve spent most of my “academic” time the past two summers studying and writing on the economics of climate change. It has become quite clear to me that were we to line up the honest economic and environmental experts and received their honest assessments about what the worst case scenarios look like, and where the […]

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In Nordhaus’s Climate Casino (recommended), in describing the problem when market prices do not fully capture all resource costs: However, the unregulated invisible hand sets the prices incorrectly when there are important externalities. Therefore, governments must step in and regulate or tax activities with significant harmful externalities. Global warming is no different than other externalities; it requires […]

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In revisiting my class discussions on the economics of public goods, I came across a paper from the OECD that incredibly I had never been aware of. One of the major results in the paper is shocking. Now the sample size, as with all cross-country analyses, is small, and there are the usual caveats about […]

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One reason I think some folks are suspicious of geoengineering solutions to climate change or biotechnology solutions to feeding people and clothing people is that these are not solutions where we “pay for our sins.” If humans perceive “easy” technical fixes to problems, that will not only make us less nervous about what future damages […]

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As you probably all know, social security is a transfer program, not a retirement program. Aside from eliminating the program entirely, which advocating for would have you removed from polite company, here are some things to consider about it. The system is in far better shape than Medicare. Medicare is the big elephant in the […]

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Readers, just reminding you that in 2016, the Corporate Average Fuel Economy of an automaker’s vehicle fleet of “cars” is supposed to be 36 miles per gallon (that was what I initially thought, but Wiki says it is FORTY ONE!). Question, how many cars on retailer floors even have this as part of their sticker? […]

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Note that Krugman here is talking about the “textbook Eco 101” approach and not, of course, the “better” Eco 108 non text-book approach we take! In any case, he is making a point that I try to make, endlessly so – that the world is a bit more complex than Eco 101-ism suggests it is. […]

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This was a really interesting article from Vox about whether we are becoming too reliant on GPS. One point that seemed spot on was that by relying on GPS and not on maps and planning (at least in conjunction with it) people’s navigational senses are dulled. I am sure you have seen other applications of […]

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The Fed Can’t Go Bankrupt

Or so a correspondent tells me.  What do we know? The Fed is currently leveraged at over 110:1, or in laymens terms it has a 0.9% capital ratio. Most “banks” would seem to be in dangerous peril of bankruptcy being this highly leveraged (4% to 8% is not only their typical capital cushion, but 4% […]

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New study finds homeopathy is effective in treating … zero … of 68 illnesses. A review of 157 studies found that homeopathic treatments were no better than a placebo. Now, before you get all righteous on folks, placebo effects are not all that bad. And lord knows, we could use a lot more placebo and […]

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