In our measures of welfare in economics, we pay careful attention to the impacts an exchange has not just on those parties who are involved in the exchange, but also to third parties who may be receiving benefits or incurring costs as a result of Person A exchanging with Person B. What economics tends to not do […]
Category Archive for 'Methodology'
Of course from the always worth pondering Scott Alexander, easily my favorite blogger on the world-wide-interweb: If a Trump victory tomorrow would convince you that X is true, I suggest that you believe X is true regardless of whether or not Trump wins, because Trump’s victory almost certainly will depend more on noise than on […]
Arnold Kling relaying Noah Smith relaying the state of the economics profession. I do not disagree. In a related essay, Smith argues that the current debate in economics is between the center-left and the radical left. The New Center-Left Consensus is attractive to academics and policy wonks. It draws on an eclectic mix of mainstream […]
To proclaim that there is no truth, that there is not even a scintilla of objective reality, is to exercise a phenomenal degree of privilege, no? This is to suggest that there is no way to obtain more knowledge about a topic. So when it comes to the workings of the price system and a […]
I tend to think this is a major problem on college campuses, but suspect it is a more general problem. Briefly, if you think about how progressively liberal a college campus is, and the human tendency to want to be accepted, it should not be a shock that you do not often see lots of […]
There was once a collection put together of 100 Authors Against Einstein, meant to criticize his theory of relativity. Einstein’s reaction is wonderful: Why 100 authors? If I were wrong, one of them would be enough!
I just managed to pick up the short pamphlet/book from philosopher Jason Brennan called Why Not Capitalism? I think to get the most out of this book you would have wanted to have already been familiar with some basic economics, some elementary philosophy as well as some of the debates that have happened since Rawls wrote […]
In my readings on political philosophy, even the most hard-core socialists, from the state-ownership clan to the anarcho-syndicalist-socialist clan seem to accede the fact that capitalism is “second best.” In other words, they craft a utopian vision for what a socialist world could look like, but since people are crooked, selfish, etc. then we must […]
From this interview: But as law students, they were taught that the Constitution evolved, right? You got that same message consistently in class, yet you had other ideas. I am something of a contrarian, I suppose. I feel less comfortable when everybody agrees with me. I say, “I better reexamine my position!” I probably believe […]
Borjas strikes back in the next round of paper(s) on the impact of the Mariel Boatlift on American wages. You would not be shocked to find that he finds that the immigrants were harmful to Floridians: This fundamental error in data construction (wintercow: in the Round Three paper) contaminates the analysis and helps hide the […]