WSJ: “Iran insiders are rumbling about the looming economic catastrophe if Washington does not grant sanctions relief that would unlock prospects for economic recovery,” said Burcu Ozcelik, senior research fellow with the London-based Royal United Services Institute think tank. “Without the prospect of economic recovery, regime survival beyond the short term will face sustained structural…
The alternatives to agreement determine the terms of agreement: Iran’s alternatives are bad and getting worse.
The alternatives to agreement determine the terms of agreement: Iran’s alternatives are bad and getting worse.
20 Apr 2026 Leave a comment
in defence economics, energy economics, international economics, war and peace Tags: Iran
Peak fashion was in the 1970s; cheap too
20 Apr 2026 Leave a comment
in economics of media and culture
Does this have implications for higher ed in particular?
20 Apr 2026 Leave a comment
in economics of education, human capital, labour economics, labour supply, population economics
Declining fertility and population loss pose significant challenges for state and federal local governments responsible for providing a range of services to citizens, including education, health care, and infrastructure. Indeed, many areas are already experiencing outright population decline, with roughly half of U.S. counties losing population between 2010 and 2020. This paper examines how shrinking…
Does this have implications for higher ed in particular?
IMF and World Bank Misled by Climate Obsession (Lomborg, Bessent)
19 Apr 2026 Leave a comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming, politics - USA
The above video includes a conversation between Bjorn Lomborg and Scott Bessent at the annual IIF gathering (Institute of International Finance). The introduction by IIF CEO Tim Adams starts about 11 minutes in. For those who prefer reading, below is a lightly edited transcript of comments back and forth, along with some added images. TA […]
IMF and World Bank Misled by Climate Obsession (Lomborg, Bessent)
Australia’s ‘Renewable’ Obsession Decimates Industry
19 Apr 2026 Leave a comment
in energy economics, environmentalism, politics - Australia Tags: solar power, wind power
Driving Australia’s current trajectory is the mythical claim that so-called renewables – are inherently cheap and that any short‑term pain will give way to lasting price declines. The post Australia’s ‘Renewable’ Obsession Decimates Industry appeared first on Watts Up With That?.
Australia’s ‘Renewable’ Obsession Decimates Industry
Caturday felid trifecta: Larry the Cat repeatedly causes mischief; cat jumps US/Canada border; Max the cat gets honorary doctors in “litterature” from Vermont university; and lagniappe
19 Apr 2026 Leave a comment
in cats
Larry the Cat recently turne 19 (and celebrated his 15th year at 10 Downing Street), but the Senior Cat is still going strong. For example, he recently caught his third mouse, though that was nominally his job as Chief Mouser to the Cabinet Office. All Brits love him now (save for the miscreants), and he’s…
Caturday felid trifecta: Larry the Cat repeatedly causes mischief; cat jumps US/Canada border; Max the cat gets honorary doctors in “litterature” from Vermont university; and lagniappe
The Laffer Curve and Limits to Class Warfare Tax Policy, Part II
19 Apr 2026 Leave a comment
in applied price theory, econometerics, entrepreneurship, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, poverty and inequality, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
In Part I of this series back in 2014, we looked at some academic research from Canada showing that the revenue-maximizing tax rate on the richest taxpayers was 27.5 percent. A key insight from that research is that high-income taxpayers have considerable control over the timing, level, and composition of their income (just like in […]
The Laffer Curve and Limits to Class Warfare Tax Policy, Part II
Matt Ridley thinks the Climate Parrot is almost dead
18 Apr 2026 Leave a comment
in economics of climate change, economics of regulation, energy economics, environmental economics, environmentalism, global warming Tags: wind power, solar power
A central theme in Ridley’s argument is the failure of renewable energy—particularly wind and solar—to deliver reliable and scalable solutions. He described these sources as inherently intermittent and argued that “the transition to them is simply failing to materialize.” While not dismissing renewable energy outright, he questioned why concern about climate change is often equated…
Matt Ridley thinks the Climate Parrot is almost dead
“F**k It…Just Do It”: Carville Lays Out Democratic Plan to Add States and Pack Court
18 Apr 2026 Leave a comment
in politics - USA Tags: constitutional law
Various Democrats have been openly discussing their plans after retaking power to change the system so they never lose power…
“F**k It…Just Do It”: Carville Lays Out Democratic Plan to Add States and Pack Court
The President(s) Fought the Law and the Law Won
18 Apr 2026 Leave a comment
in applied price theory, economic history, history of economic thought, income redistribution, industrial organisation, international economics, labour economics, labour supply, politics - USA, poverty and inequality, Public Choice, rentseeking, survivor principle Tags: creative destruction, free trade, tarrifs
In our textbook, Modern Principles, Tyler and I emphasize that Congress and the President are subject to a higher law, the law of supply and demand. In an excellent column, Jason Furman gives a clear example of how difficult it is to fight the law of inelastic demand: …Today a given number of autoworkers can…
The President(s) Fought the Law and the Law Won
‘Market Power in Antitrust: Economic Analysis after Kodak,’ by Benjamin Klein
17 Apr 2026 Leave a comment
in applied price theory, economics of regulation, history of economic thought, industrial organisation, law and economics, politics - USA Tags: competition law
In 1992, the U.S. Supreme Court held in Eastman Kodak Co. v. Image Technical Services that a firm without market power in photocopiers might still possess market power in photocopier parts and service. The Court’s logic turned on opportunistic hold-up: Kodak could profit by trading short-run exploitation of locked-in customers for long-run losses in equipment…
‘Market Power in Antitrust: Economic Analysis after Kodak,’ by Benjamin Klein
US Constitution provides for replacing an impaired President – but what happens in NZ?
17 Apr 2026 Leave a comment
in politics - New Zealand Tags: constitutional law
Donald Trump’s erratic behaviour has led to increasing speculation that United States legislators may invoke the 25th Amendment to the United States’ Constitution to remove him from office. Respected media outlets like the New York Times have been openly raising questions about the President’s sanity and therefore his capability to remain in office.
US Constitution provides for replacing an impaired President – but what happens in NZ?
Interview with Ellen McGrattan: Business Cycles and Intangible Capital
17 Apr 2026 Leave a comment
in business cycles, Edward Prescott, entrepreneurship, financial economics, global financial crisis (GFC), great recession, history of economic thought, human capital, labour economics, macroeconomics, monetary economics, occupational choice, Robert E. Lucas
Tim Sablik of the Richmond Fed interviews “Ellen McGrattan: On measuring what businesses do, developing effective tax policy, and searching for answers beyond the lamppost” (Econ Focus: Federal Reserve Bank of Richmond, First/Second Quarter 2026). Here are a few of the comments that caught my eye: How did McGrattan become interested in business cycles? In…
Interview with Ellen McGrattan: Business Cycles and Intangible Capital
Harnessing Mercantilist Idiocy for the Public Good
17 Apr 2026 Leave a comment
in applied price theory, history of economic thought, industrial organisation, international economics
TweetIdeally, every government would implement a policy of unilateral free trade. But governments, of course, by their nature testify that reality is very far from ideal. Here’s a letter to a long-time correspondent. Mr. B__: Thanks for your email in response to this blog post of mine in which I express support for the World…
Harnessing Mercantilist Idiocy for the Public Good
The Paramount Question Isn’t Paramount
17 Apr 2026 Leave a comment
in applied price theory, economics of media and culture, economics of regulation, entrepreneurship, industrial organisation, law and economics, managerial economics, market efficiency, movies, organisational economics, politics - USA, television Tags: competition law, creative destruction, merger law enforcement
Big mergers make headlines. They don’t always make antitrust problems. In a previous commentary, I explored the antitrust implications of a potential acquisition of Warner Bros. Discovery (WBD). That uncertainty is now resolved. On Feb. 27, Paramount Skydance Corp. agreed to acquire WBD for roughly $110 billion in enterprise value—$31 per share, all cash. The…
The Paramount Question Isn’t Paramount
Utopia, you are standing in it! 
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