“They” said it, not me. I have a somewhat more nuanced take, but I’m here to report the news, that’s all: Carroll, Thomas, Djeto Assane, and Jared Busker. “Why it Pays to Major in Economics.” The Journal of Economic Education 45, no. 3 (2014): 251-261. Abstract: In this article, the authors use a large, recent, and […]
Category Archive for 'Economists'
Since 2006, my nominal wage has fallen by a total of 6.5% or about 0.8% per year compounded. I would note that my compensation has probably remained flat. The average price level has increased by about 18% over this time period. Therefore, my real wage today is about 25% lower than it was in 2006. Without my commentary on […]
As usual, my colleague Steve Landsburg provides spot on and clear-headed analysis of the Gruber-Gate “scandal” … here is a bit: If the voters favor a law that says all drivers must be licensed, but oppose a law that says nobody without a license is allowed to drive, then I don’t think it’s immoral to […]
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 […]
Here, without my comments.
It’s good to find evidence that you are wrong about something. As I was driving into work today, I had the experience of getting nastily cut off by a guy in a car with a Connecticut license plate. I know I was right … I was in the right lane on the I-490 just before […]
The Huffpo and the minimum wage cheerleaders have now gone off the deep end. If you simply SAY that someone “demolishes” a classic argument, does that make it so? And just look at how uber-sophisticated and intelligent that post is. WHAT classic argument? It’s not like anyone tells us. Is it the classic moral argument […]
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 […]
Posted in Central Planning, Corporatism, Economic Illiteracy, Economics Problems, Economists, Government Gone Wild, If I Really Hated the Poor ..., Transportation and Infrastructure, You Can't Have it Both Ways on May 7th, 2014
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 […]
I swear my post on rents is coming soon! In the meantime, think about the implications of the big Picketty assumption/finding that the rate of return on capital going forward will exceed the average rate of economic growth. And assume that we actually understand what this means – do read all of the book reviews […]