Homines libenter quod volunt credunt
Posted in Central Planning, Disingenuous, Economic Illiteracy, Economics Problems, Economists on Apr 21st, 2016
Note that Krugman here is talking about the “textbook Eco 101” approach and not, of course, the “better” Eco 108 non text-book approach we take! In any case, he is making a point that I try to make, endlessly so – that the world is a bit more complex than Eco 101-ism suggests it is. […]
Posted in Economists, Health Care on Mar 16th, 2016
Here is a very nice interview with Nobel Laureate Ken Arrow. Note that despite his famous position on the impossibility of having a true free-market in health care, he does not in any way demagogue the issue. Indeed, his humility is refreshing. Here is one clip: The truth is it’s very easy to rail against […]
Posted in Economists, Unintended Consequences on Oct 16th, 2015
In a most delightful lunch conversation with one of my most cherished colleagues today, he commented: I’m really looking forward to seeing someone write a paper about how the evolution of womens’ rights has led to the rise in obesity. That wasn’t nearly his most interesting observation.
Posted in Economists, Institutions on Jan 22nd, 2015
Here is required reading for all of my Intro econ students, from my great colleague Stan Engerman: The Spread of Pro- and Anti-Capitalist Beliefs
Posted in Economists on Dec 16th, 2014
“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 […]
Posted in Economic Illiteracy, Economists, Fun Facts on Nov 23rd, 2014
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 […]
Posted in Economic Illiteracy, Economists on Nov 19th, 2014
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 […]
Posted in Central Planning, Corporatism, Economics Problems, Economists, Special Privilege on Nov 17th, 2014
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 […]
Posted in Economists, media, Politics on Nov 15th, 2014
Here, without my comments.
Posted in Economists, Fun Facts, Transportation and Infrastructure on Nov 12th, 2014
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 […]
