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Category Archive for 'Economics Problems'

The most regular question I get from students who actually care about their education is why we tend to see so much bad policy, particularly if it is widely understood that messing with (nonexternality) prices is such a bad idea and industrial planning is such a bad idea. I typically stumble saying something to the […]

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If the income and wealth of every single American were to double over the next decade in REAL terms, then in a decade, the amount of measured poverty would remain unchanged. You’d also very likely see no change in inequality according to the way most people talk about it, i.e. “the income share of the […]

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In my inbox this morning is this working paper: Should Hospitals Keep Their Patients Longer? The Role ofInpatient and Outpatient Care in Reducing Readmissionsby Ann P. Bartel, Carri W. Chan, Song-Hee (Hailey) Kim  –  #20499 (HC HE PE)Twenty percent of Medicare patients are readmitted to the hospital within 30 days of discharge, resulting in substantial costs […]

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In reading various papers and books that talk about biodiversity and the need to both measure and promote it (agreed!), you will encounter an idea of a thing called an “Indicator Species.” These would be species to examine, in part, to understand how healthy or threatened an ecosystem is. In various books on oceans I […]

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Lest one wonder if Wintercow has truly disconnected I’ll just remind folks that I’m not permitted to comment on the goings on in Ferguson or Iraq or Palestine or just about anywhere for that matter. I’m a resident member and practicing oppressor, paid by corporations and clandestine organizations to subtly promote and continue this oppression […]

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Except when “we” preach it:  It’s better for the economy. When you buy local, a large percentage of the money stays in your community. The farmer can  afford to have the local mechanic fix his truck, the mechanic can afford to hire a local accountant to do his taxes, and the accountant can afford dinner out at a […]

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GDP = National Income. It is argued that GDP is not a reliable measure of well-being. I agree. Therefore income is not a reliable measure of well-being. Therefore income inequality is not a reliable measure of the distribution of well-being. And before you jump into my tribal pool, this could very well mean that well […]

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The emperor indeed has no clothes and it’s apparently a feature of the argument, not a bug: Barry Ritholtz: U.S. on Highway to Flunking Out, by Barry Ritholtz: Roads are crumbling, bridges are collapsing, and what was once considered one of the greatest achievements of any government anywhere has fallen into embarrassing disrepair. I am of course discussing our […]

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How many economics departments actually teach a class on the Great Depression? The Depression is perhaps the greatest, most difficult to understand economic episode in modern U.S. history. How many economics departments offer a class on political economy, and in particular one that pays attention to the Public Choice school of economics? I suppose those […]

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Not My Vox

Let me preface what I am about to write with an admission of some thoughts that have nagged me lately. Those thoughts include that I am increasingly sympathetic with leftist concerns about super-wealthy people and their outsized influence on the world  (won’t go into the reasons why at the moment). Let me also recognize that […]

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