In this short Youtube clip, author and food activist Michael Pollan argues: Milk will always be the maximum number of paces from the door, and the reason is that most people want to get a quart of milk and they want them to pass as many other things as possible on the way — so […]
Category Archive for 'Economic Illiteracy'
Let’s tax corporations more. After all, they have plenty of profits. OK, I agree. Then I hope you all get on board with the following proposal. Let’s impose a 10% tax on all “schools’” revenues. After all, schools, especially places like where I work, take in BILLIONS of dollars of revenue. They employ and they […]
Try this on for size: Evidence indicates that the price elasticity of demand for labor is quite high, at least 3. That is, an increase in average wages of 1% would lead to at least a 3% decline in the number of hours of work demanded by employers. Labor economists believe, however, that the price […]
Posted in Classical Liberalism, Competition, Corporatism, Economic Illiteracy, Economics Problems, ethical foundations, Government Thuggery, If I Really Hated the Poor ..., Market Failures, Methodology, Politics, Religion, Voluntary Society, You Can't Have it Both Ways on Dec 10th, 2013
The “left” sees the last 34 years as a revival (was there ever a VIVAL?) of laissez-faire dogmatism. Some folks like myself see it as almost the diametric opposite. Of course, some of this could be “settled” by empirical evidence. The number of pages of regulations? The dollars spent complying with regulations? The number of […]
Last week, former CEA Chair and current Harvard economist Greg Mankiw points us to yet another rhetorical flourish by the Commander in Speech: The CEA Fact Checkers Miss One In his speech yesterday, President Obama said, Now, we all know the arguments that have been used against a higher minimum wage. Some say it actually hurts low-wage […]
from Tim Taylor. Here are some older thoughts on mine on taxing the rich more. And here.
Living in a world of irrationality and economic illiteracy can push one toward misanthropy. But I have a feeling that experience is a better teacher than … teaching. It’s entirely frustrating to have a career that is probably irrelevant – that was not what I thought teaching economics was going to be like when I […]
We should make every Friday a fallacy Friday. Here is the latest from the Wonks: This chart is amazing news for our health cost problem By Sarah Kliff, Published: November 20 at 3:55 pm
A major complaint levied against markets is that unless we have strong regulation of what can and cannot be sold, and under what conditions, that markets end up “commodifying” everything. Here is one such argument. Part of the difficulty with addressing claims of commodification is that the term has different meanings, and it’s not clear […]
For 6 years I’ve been accused of “ranting” about this: http://feedly.com/k/HMigrx. And on “organic” and “green” jobs and “sustainability” and “running out of resources” and “peak oil” and “buying local” and “recycling” and “environmental symbolism” … I’d rather have been wrong. In either case I’m not invited to dinner parties but at least in my […]