Homines libenter quod volunt credunt
Posted in Economists, Methodology, Special Privilege on Nov 18th, 2012
Do you know why economists are likely to be in favor of Washington and Colorado legalizing marijuana use? Not because they care much about freedom or even that they think it is welfare improving. No, not at all. Remember, “we” economists are self-interested creatures. And this change in the law will be a very useful […]
Posted in Economics Problems, Economists, Methodology, You Can't Have it Both Ways on Nov 1st, 2012
If you watched the debate you are aware that the bailout of the American automobile industry is seen as a badge of honor, a sign of economic rectitude, evidence of leadership and so on. Ignore the fact that pointing to the “success” of the auto-bailouts is akin to celebrating the rock-tossing boy in Bastiat’s famous […]
Posted in Economic Illiteracy, Economists, Institutions, Money on Sep 26th, 2012
There is no denying that many people, perhaps yours truly included, seem to love the idea of having money. The same, of course, is true for extra-individual institutions. But is it really the case that even for the most megalomaniacal person out there that the acquisition and pursuit of money is an end wholly unto […]
Posted in Economists on Sep 20th, 2012
My colleague Steve Landsburg points out today: Paul Krugman gets this one exactly right; among the 47% of Americans who pay no federal income tax in a given year, most do pay federal income tax at some point in their lives — and thus have at least some stake in the tax system. Then one of the folks […]
Posted in Economics Problems, Economists on Aug 9th, 2012
Prominent Chicago economists justify federal spending … on … economists.
Posted in Economic Illiteracy, Economics Problems, Economists, Environment, Taxation, You Can't Have it Both Ways on Jul 20th, 2012
When economists calculate "optimal" taxation rates to correct various negative "externalities" they typically start from the assumption that the good in question is not taxed. So, for example, when we think about how much we need to tax activities that emit carbon dioxide, we start by asking the question of how much damage is done […]
Posted in Economists on Jul 1st, 2012
Well folks, after much reflection I have decided to end my time here at the Unbroken Window. After 2,500+ posts, with a new post every weekday for over 5 years, I think it is time to move on. The site and archives will stay up for now. Many thanks to those of you who took […]
Posted in Economic Illiteracy, Economics Problems, Economists on Mar 16th, 2012
So this is what the vigorous and free exchange of ideas has come to? Our dear friend is running around with a blowtorch in a hayfield … As a result, U.S. oil production has risen significantly over the past three years, reversing a decline over decades, while natural gas production has exploded. Given this expansion, […]
Posted in Economics Problems, Economists, Macroeconomics on Mar 14th, 2012
I am sure my readers would wrinkle their eyebrows upon utterance of the name Brad DeLong. After all, this is a guy who regularly calls all Republicans hacks and does not shy away from throwing his opponents under the ad hominem bus. But that does not mean you ought not read some of the things […]
Posted in Economics Problems, Economists on Mar 9th, 2012
Mark Thoma points us to a Krugman column that basically says the Republicans are trashing American values by questioning the value of higher education. In fact he explicitly makes the argument that Republicans want people to NOT go to college because that will keep lots of Americans ignorance, and therefore keep mobility low and therefore […]