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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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I almost have a hard time believing that this article and experience is not a case of double trolling. Underlying these alleged “social constructions” is the most deeply concerning of them all. This is the belief that in urgent need of “disrupting” is the simple truth that science itself—along with our best methods of data-gathering, […]

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Just a few scattered thoughts: Universities are corporations It is probably closer to the truth to appreciate that non-profits exist to serve the interests of their donors and workers more than they do their stated “charitable” objective Almost every entity that engages in some kind of production and planning, from the most wild free-market agencies […]

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The Shame of Recycling

We need not recount here the very simple economics required to determine whether recycling makes sense. The reality of the recycling world is that most of the “valuable” stuff out there is already being recycled and reused, and the question on residential recycling is about how we deal with low-value or even value-less trash in […]

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It is obviously extremely hard to pin down a solid figure for how many people are going to be displaced due to the challenges posed by a warming planet. But virtually every publication I have read on the challenges of global warming rank the issue of “climate refugees” as both a serious political and economic […]

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If you look at the major risks to human health and well-being around the world, you will quickly come to realize that climate change ranks nowhere near the top of the list. For example, the WHO and various other estimates show that something like 10 million people per year die from easily curable infectious diseases […]

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Selling the Dream

Realtors are quite well known for trying to make their properties sound good, and use language and discuss amenities that potential customers find attractive. If inequality were such a huge concern, how come we don’t see reports of Gini Coefficients in real estate listings, or some other such similar measures? Now, sure, this is my […]

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Weekly Ponderence

That’s all there is. Enjoy the experience folks.

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… for the “rules of economics” not to apply! How often have you heard things like, “during an emergency, the rules of economics don’t apply!”? Or, health care and the environment are too important for the rules of economics to apply. Economics just doesn’t belong here. If only! To suggest that the rules of economics […]

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When you sit through a Physics 101 course, you are taught fundamental laws of motion, particularly Newtownian mechanics. You are then assigned problems that may go something like: you jump naked off of the Freedom Tower, and there is no wind velocity in any direction. How long until impact? And then you go ahead and […]

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