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Category Archive for 'P-R'

If (when) Biden’s $15 national minimum wage causes disparate unemployment outcomes of black teens vs white teens, will we strike it down as racist policy? Remember, Kendi tells us that a policy is either racist or anti-racist. We would hope that we distinguish results from intent. Doing the empirical work here is the bread-and-butter of […]

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Gerentocracy

Our gerentocracy doesn’t suck because they are old. No, it sucks because their ideas have been terrible for 50 years, and they continue jamming them down our throats to this day. Have a nice day.

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“This is, of course, a very unrealistic assumption … these operations are often extremely costly … to prevent many transactions.” That was him referring to the oft-straw man argument by opponents of Coasean insights about “transactions costs being zero.” Coase obviously knew that. And he obviously was making a different point. The Coase Theorem as […]

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Gifts are the original sin of commerce. My theory is that this is why “the gift economy” is so cherished by critics of anonymous, ephemeral, market exchange. Market exchanges allow us to free ourselves from the power that our families and others exercise over us. The wider the extent of market competition, the less we […]

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Less Sexy, But More Important

One of our fine students, Dan DiLoreto shares his insights on how local and state regulations stifle commerce and ultimately hurt not just consumers but workers too. Here is a bit: The alcohol industry ultimately operates as a case study in how protectionist policies at both the national and the state level hurt growth and […]

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Monday Morning Reflection

I would prefer to be the only propertyless person in a propertied world rather than the only propertied person in a propertyless world.

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Before I proceed with this post, let’s get this out of the way. Here is a really cute elephant picture: And let me get the following out of the way: even though I understand the economics and arguments about why we may want to allow and perhaps even encourage hunting, I don’t like it at […]

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I am of the opinion that there can never be enough reflective history done on some of the ideas celebrated in our grade school (and college) textbooks. In today’s edition, Robert Bradley refers us to the Sherman Antitrust Act. You know the origin story – big business was destroying America, widening the gap between the […]

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Red Meat

Steak demand seems to be positively correlated with how red your politics are (HT: Jason Lusk and his Food Demands Survey).

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Do you know of a study that has examined both (the difference) between the market value of the global assets at risk over the next 100 years from rising sea levels and increasing storm intensity versus the replacement value of the global assets at risk over the next 100 years from rising sea levels and increasing storm intensity? Do […]

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