Tags: Harold Demsetz
HT: Brian Albrecht
Originally posted on Tallbloke's Talkshop:
Matt Ridley: Whatever Happened To Global Warming?
Date: 05/09/14 Matt Ridley, The Wall Street Journal
On Sept. 23 the United Nations will host a party for world leaders in New York to pledge urgent action against climate change. Yet leaders from China, India and Germany have already announced that they won’t attend the summit and others are likely to follow, leaving President Obama looking a bit lonely. Could it be that they no longer regard it as an urgent threat that some time later in this century the air may get a bit warmer?
In effect, this is all that’s left of the global-warming emergency the U.N. declared in its first report on the subject in 1990. The U.N. no longer claims that there will be dangerous or rapid climate change in the next two decades. Last September, between the second and final draft of its fifth…
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Originally posted on Modeled Behavior:
This is the second part of a series of posts responding to Matt Steinglass at the Economist, who put forward some common progressive arguments in favor of more unionization recently. To understand the big picture problem with the argument for more unions, it’s useful to look at the reasons why unions have died out in the first place. One common explanation is that the most highly unionized industries, like manufacturing, have shrunk, and that unionization was simply taken along for the ride. This is not the case however. As Barry Hirsch details, while overall manufacturing employment fell from 20.1 million from 1973 to 15.6 million in 2006, nonunion manufacturing employment rose by 1.5 million. A similar patter persisted in the other main union industries of construction, and transportation/communication/utilities: union employment fell while nonunion employment rose. The graphs below, from Hirsch, tell the story pretty clearly:
If declining industries is…
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Originally posted on International Liberty:
That’s because there’s lots of good research showing that there are ever-increasing costs to the economy as tax rates approach that level.
So the question that policy makers should ask themselves is whether they’re willing to impose $10 or $20 of damage to the private sector in order to collect $1 of additional revenue.
New we have further evidence. Let’s take a look at a new study by economists from Spain, Arizona, and California. Here’s the issue they decided to study.
As top earners account for a disproportionate share of tax revenues and face the highest marginal tax rates, such proposals lead to a natural tradeoff regarding tax revenue. On the one hand, increases in tax revenue are potentially non-trivial given…
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