I think they are saying that we should ban abortion, and we should end the Endangered Species Act, CAFE standards and recycling. Here is three cheers for the nanny state: “What this ignores is that successful paternalistic laws are done on the basis of a cost-benefit analysis: if it’s too painful, it’s not a good [...]
Category Archive for 'Behavior'
Apparently we need to ban or limit Coca-Cola and Pringles and Oreos and all those things that are terrible for us not just because we don’t know what’s good for us, but because Coke and Nabisco and Food, Inc. advertise. Never mind the fact that the very essence of politics and governing is advertising, we [...]
Stupid is as stupid does? Or what about what we say? In the most recent survey reported by the AP, it turns out that people really favor increasing spending on all kinds of things by the government. Of course, no one bothers to ask whose money is being spent and they certainly aren’t being asked, “given your [...]
Did you ever spend gargantuan amounts of time obsessing about a particular decision or purchase? Which graduate school should you attend? What kind of car should you buy? Or spending weeks and weeks and weeks waiting for the perfect deal, or for a good-used version of some product that you want to come up for [...]
We’re doomed? The joke that is the Behavioral Movement? A reason to purchase a firearm? (click the image for a link, and check out the next project we are going to be treated to: a defense of your ability to stop me from having more children) Nonetheless, I enjoy living in a world where all [...]
“The first principle is that you must not fool yourself, and you are the easiest person to fool.” Thus says the great physicist Richard Feynman. I’ve been trying to wrap my head around both the rhetoric and sentiments of the “Progressives” that live around us. And I do think I am onto something. I’ve talked [...]
The pop wisdom on what economists (real economists) mean by “rational actors” or “rational decision makers” is ostentatiously misleading. That view basically suggests that rationality = “correct choice” or perhaps something like “omniscient beings.” This is of course silly not least of all that Hayek won a Nobel Prize in part for demonstrating how important [...]
It appears that it would make me as happy as a 50% income increase: Comparing the Happiness Effects of Real and On-line Friends by John F. Helliwell, Haifang Huang - #18690 (LS PE) Abstract: A recent large Canadian survey permits us to compare real-time and on-line social networks as sources of subjective well-being. The sample of 5,000 [...]
HT to Randy Parker of ECU.
There are generally three types of discrimination (actually four) that may result in some economic actors being left shorthanded (we can define that in future post, but for now just conjure up the mental image of a worker being paid less than he/she “should”). These are: Employer discrimination: the owners of a firm treat individuals [...]