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Date: Friday, 22 Aug 2014 01:05
(August 22, 2014 12:05 AM, by Bryan Caplan) In 2011, my co-blogger David and I bet on the future of higher education.  The terms:I propose that we use the official numbers from the National Center for Education Statistics' Table 212.  2009 is the latest available year of data. ... (0 COMMENTS)
Author: "Bryan Caplan" Tags: "Economic Methods"
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Date: Thursday, 21 Aug 2014 13:59
(August 21, 2014 12:59 PM, by David Henderson) Glenn Reynolds, a law professor at the University of Tennessee, better known as Instapundit, writes: The response to Foley's beheading should have been a MOAB dropped on an ISIS-held town. For those of you who don't know, a MOAB is... (46 COMMENTS)
Author: "David Henderson" Tags: "moral reasoning"
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Date: Thursday, 21 Aug 2014 01:10
(August 21, 2014 12:10 AM, by David Henderson) I often criticize Paul Krugman's writing on economics. But I also give him credit where credit is due. And credit is due for his excellent recent column on war. Read the whole thing. Some excerpts and my comments: If you're... (13 COMMENTS)
Author: "David Henderson" Tags: "Public Choice Theory"
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Date: Thursday, 21 Aug 2014 01:04
(August 21, 2014 12:04 AM, by Bryan Caplan) The U.S.-led invasion of Iraq in 2003, you may recall, was dubbed Operation Iraqi Freedom.  Eleven years and over 100,000 civilian deaths later, the name is dark comedy.  The replacement Shiite-dominated government is a close ally of the Iranian theocracy,... (18 COMMENTS)
Author: "Bryan Caplan" Tags: "Cost-benefit Analysis"
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Date: Wednesday, 20 Aug 2014 15:52
(August 20, 2014 02:52 PM, by David Henderson) UPDATE BELOW On August 4, while I was on my vacation, my beloved transportation economics professor, George Hilton, died. Co-blogger Art Carden has rightly singled out one of his best articles in a post earlier today. Here are some of... (6 COMMENTS)
Author: "David Henderson" Tags: "Obituaries"
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Date: Wednesday, 20 Aug 2014 12:45
(August 20, 2014 11:45 AM, by Art Carden) In response to my recent blogging about Uber and Lyft, Daniel Klein sent me this paper (gated by JSTOR) by Ross Eckert and the recently-deceased George Hilton. It's a fascinating story of rent-seeking special interests (electric streetcar and railway companies)... (3 COMMENTS)
Author: "Art Carden" Tags: "Economic History"
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Date: Wednesday, 20 Aug 2014 01:01
(August 20, 2014 12:01 AM, by Bryan Caplan) The Case Against Education's chapter on the selfish return to education runs over sixty pages.  Since I suspect that even eager readers may skim all the tables, I end with practical advice in plain English.  Note: Nothing in this section... (25 COMMENTS)
Author: "Bryan Caplan" Tags: "Cost-benefit Analysis"
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Date: Tuesday, 19 Aug 2014 22:02
(August 19, 2014 09:02 PM, by Scott Sumner) In order to do good economic analysis, it is important to distinguish between supply and demand shocks. Commenter SG pointed me to this curious post by Paul Krugman: For those new to or confused by the term, secular stagnation is... (9 COMMENTS)
Author: "Scott Sumner" Tags: "Macroeconomics"
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Date: Tuesday, 19 Aug 2014 20:58
(August 19, 2014 07:58 PM, by David Henderson) Paul Krugman writes: the attack on Obamacare depended almost entirely on lies, and those lies are becoming unsustainable now that the law is actually working. No, there aren't any death panels; no, huge numbers of Americans aren't losing coverage or... (9 COMMENTS)
Author: "David Henderson" Tags: "Economics of Health Care"
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Date: Tuesday, 19 Aug 2014 14:23
(August 19, 2014 01:23 PM, by David Henderson) Have you seen this sign in your doctor's office? It reads, "One problem per visit, please." An editorial in the Canadian Medical Association Journal says this sign is popping up in the offices of some family physicians. This is from... (13 COMMENTS)
Author: "David Henderson" Tags: "Economics of Health Care"
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Date: Tuesday, 19 Aug 2014 01:24
(August 19, 2014 12:24 AM, by Bryan Caplan) Suppose you have a ne'er-do-well cousin.  A long-term alcoholic and drug addict, he's been arrested about thirty times - though never convicted of a felony.  One day he comes to your door, and tells you a largely accurate history of... (21 COMMENTS)
Author: "Bryan Caplan" Tags: "Economic Philosophy"
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Date: Monday, 18 Aug 2014 17:17
(August 18, 2014 04:17 PM, by David Henderson) While away on my vacation in Canada, I missed this story about Walmart and health care. Here's an excerpt: After years of "Will they or won't they?" discussion, Walmart is making its long-awaited move into delivering primary care: The retailer... (13 COMMENTS)
Author: "David Henderson" Tags: "Economics of Health Care"
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Date: Monday, 18 Aug 2014 15:41
(August 18, 2014 02:41 PM, by Bryan Caplan) I regularly praise Nicholas Kristof's courageous essay on Third World poverty.  While First World immigration policies and Third World economic policies cause enormous harm, the global poor exacerbate their woes with grotesquely irresponsible behavior.  Kristof:[I]f the poorest families spent as... (19 COMMENTS)
Author: "Bryan Caplan" Tags: "Behavioral Economics and Rationality"
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Date: Monday, 18 Aug 2014 12:45
(August 18, 2014 11:45 AM, by Art Carden) A very brief Twitter exchange from last week: @WesleyVaughn Dropping a million quarters on sidewalks around town would be a better idea.— Art Carden (@artcarden) August 12, 2014 I was jesting, but only sort of. As a friend has suggested,... (4 COMMENTS)
Author: "Art Carden" Tags: "Politics and Economics"
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Date: Sunday, 17 Aug 2014 19:13
(August 17, 2014 06:13 PM, by Scott Sumner) Standard monetary theory says that changes in the money supply and prices are neutral under certain circumstances, such as in the very long run, and also after monetary reforms where all contracts are automatically adjusted to the change in the... (9 COMMENTS)
Author: "Scott Sumner" Tags: "Economics of Education"
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Causation   New window
Date: Saturday, 16 Aug 2014 21:41
(August 16, 2014 08:41 PM, by David Henderson) Which cause should we focus on? One of my favorite editorial writers for the Wall Street Journal, Mary O'Grady, writes (in "A Terrorist Big Fish Gets Away" in the August 11 print edition): America's voracious appetite for illegal drugs has... (11 COMMENTS)
Author: "David Henderson" Tags: "Economics of Crime"
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Date: Friday, 15 Aug 2014 12:56
(August 15, 2014 11:56 AM, by Scott Sumner) Here is The Economist: IF ABENOMICS means anything, it is the promise of the prime minister, Shinzo Abe, to restore healthy economic growth to Japan and end years of deflation. To that end the central bank, sloughing off its... (18 COMMENTS)
Author: "Scott Sumner" Tags: "Macroeconomics"
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Date: Friday, 15 Aug 2014 08:02
(August 15, 2014 07:02 AM, by Alberto Mingardi) I'm reading Liberalism. The Life of an Idea by Edmund Fawcett. I like the idea behind the book, which is providing a history of classical liberalism through vignettes of its great champions, but I have some problems with the underlying... (2 COMMENTS)
Author: "Alberto Mingardi" Tags: "Book Club"
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Date: Thursday, 14 Aug 2014 17:45
(August 14, 2014 04:45 PM, by Art Carden) I've gotten better about this in recent years, but earlier today I was sitting in an airport with no cash. That's normally not a problem as I use credit cards for almost everything, but it does become a problem where... (7 COMMENTS)
Author: "Art Carden" Tags: "Alternative Economics"
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Date: Thursday, 14 Aug 2014 14:52
(August 14, 2014 01:52 PM, by Scott Sumner) Here's Tyler Cowen commenting on ECB policy options for addressing lowflation: 2. Nominal gdp targeting. In general I like this idea, but which ngdp gets targeted? Eurozone ngdp, presumably. But when you have multiple countries, individual countries can end up... (12 COMMENTS)
Author: "Scott Sumner" Tags: "Monetary Policy"
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