Among some of the most unproductive questions I am asked regularly include questions of the type, “are you in support of XYZ?” As if XYZ is some monolithic, black and white, easy to understand and represent with the word XYZ, thing. Of course, it is not. So, in the past I’ve been very evasive when […]
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A couple of related thoughts and questions. 1) I grew up, to put it one way, not at all rich. Can you articulate at which point in my life I became the purveyor of oppression and deserving not only of scorn but of aggressive redistributive efforts? 2) If folks wish to distinguish wealth that is […]
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Posted in Economics Problems on Feb 12th, 2014
Does linking to this mean I am now a “Selginite?” He’s spot on. At the close of my last post here, I referred to myself as a “non-Austrian,” causing one of our regular commentators to wonder why. “Because,” I answered, “belonging means conforming.” … I don’t want to belong to any economic school of thought, or to […]
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The federal government collected $350 billion from corporations in corporate income taxes last year. Economists have long understood and explain that the US federal (and state) corporate income tax rates are at the same time both too high and too low. Why do we say this? Well, the tax rate is, at the margin, very […]
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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 […]
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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 […]
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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 […]
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My friend John linked me up to this somewhat unnerving article. Without responding to the claims too harshly, let’s keep in mind some things: Students in almost any discipline learn very little of value while in class. And of what valuable stuff remains, almost none is retained for any considerable point in time. So, even […]
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I am sure many bytes are being “spilled” to analyze and comment on Krugman’s latest outburst or peacocking or whatever you wish to call it. Read the comments. Remember that all of those folks think you should get into the community hot-tub with them. A few points: Remember what I said about Woody Going Straight […]
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What can the economics of altruism inform us about why we might hold particular political beliefs? Lots, I think. Let’s assume for simplicity that altruism is an act or emotion that provides no benefit to oneself and which redounds exclusively to someone else. Some may go so far as to suggest that true altruism must […]
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