This sort of article is either why I started blogging in the first place, or am on the verge of quitting. It’s extraordinarily disingenuous and frustrating. Here is one example: With unions only a distant memory for many people, federal minimum-wage legislation has become the best hope for propping up wages for low-income workers. And […]
Category Archive for 'Economics Problems'
Ezra Klein calls this piece powerful. There is a lot of telling information in it. Brad DeLong’s take on “You Didn’t Build That!” Worthy of a reply by me, but I’m retired and no one cares anyway!
26.2 + ε
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 […]
Tyler over at Marginal Revolution finds that about 20 states require some teaching of economics in high school. Implicit in the post is that requiring economics is a good thing. And why not? After all, the state of economic literacy in America is strikingly low, even among people who have taken some economics, and teaching […]
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. […]
All of these accept the premise that future damages from anthropogenic warming will be serious, i find this to be a useful discussion strategy: Climate change will cause massive heat and drought and leave people in need of food. OK, compare then, the most effective and optimistic scenarios for reducing CO2 emissions and preventing warming […]
The reason we are talking about inequality is because we are talking about inequality. I suppose the SJW can take credit for “raising awareness:” Misperceiving Inequality by Vladimir Gimpelson, Daniel Treisman – #21174 (POL) Since Aristotle, a vast literature has suggested that economic inequality has important political consequences. Higher inequality is thought to increase demand for government […]
1. My default view of economic policy, even very effective policy, is that at best policy changes move us only a little bit of the way toward our stated goals as compared to an array of far larger and more important forces. These forces are often beyond our control, including biological ones, and include cultural […]
Ask almost anyone to define “capitalism” to you and you will inevitably get a blank stare. If you try and push the question I suspect you’ll get people answering something like the way people are asked to identify “porn” … they can’t, but they know it when they see it. Except, of course, with capitalism, […]