The decline of class as a factor in voting

labouralp

At the UK General Election of 1964, a 2% of voters with no ‘working class characteristics’ voted Labour.

People’s socio-economic characteristics are now much less significant than they used to be as indicators of how they are likely to vote, for not only do many working class people vote for parties of the right, but large swathes of the middle class now vote Labour.

Support for Labor among manual working class voters as a whole was no higher than support for the right-wing parties in the 2004 Australian election.

If lower grade white collar occupations are included as working class, the right-wing parties in Australia actually achieved a small lead over the Australian Labor Party among working class voters.

POSSUM COMITATUS  asks why are the Greens strongest in the inner cities? What is the cause of Greens voters living in the inner cities?

greensindustry

He found that people working in the arts, education, media and technology industries are more likely to vote Green, and as a result of the distribution of workplaces for these industries having a higher density in the inner suburbs, the people living within close proximity to their workplaces naturally leads to the inner cities having higher levels of Greens voters. He concludes:

it’s just a modern evolution of class based electoral analysis – whereas the Labor vote used to correlate strongly with manufacturing and low skill, labour intensive industries – today, the Green vote correlates with new skilled services industries like arts, education, media and technology.

The economic implications of the Fifth Wave

thefifthwave's avatarthe fifth wave

mall1

Enter Tyson’s Galleria, a golden temple of consumption for upscale shoppers.  Built in 1988, it was expanded in 1997 and made to appear – so the designers thought – like a “European streetscape.”   In reality, it looks a bit like a hallucination by M. C. Escher.

I experience Tyson’s Galleria, which I occasionally visit on rainy days, as a problem and a possible falsification of the propositions inherent to the Fifth Wave.  The latter predict traumatic assaults on the centers of authority in every domain.  Meanwhile, Tyson’s Galleria rolls on, imperturbably ostentatious.  Stores come and go, but the system remains untouched.  A top-down, hierarchical structure – the shopping mall – seems to be surviving, in fact thriving, in a networked age.

So I am driven to reflect on how business and economics must function under the conditions of the Fifth Wave, and whether this theoretical model coincides with…

View original post 1,678 more words

The quickening in creative destruction and CEO turnover

Print

HT: marginalrevolution

David Friedman – Application of Economic Analysis to the Law

https://www.youtube.com/watch?v=zHTj0iccdVM#t=87

Legal rules exist to change what people do…

Economics deals with how people respond to incentives…

Economics can both help make sense of the law and help decide what the law should be…

what we call the principles of justice may be actually be rules for thumb for producing efficient outcomes.

A professor of law and economics who has never take a course for credit in either law or economics

The Truth about the Minimum Wage

Video

corruption of images

some of the quotes have corrupted!

Instalments in the meaning of life

Believe me, if a person speaks about his troubles all day long, it gives him a certain pleasure - because true grief is wordless - Samuel Johnson Quotes - StatusMind.com

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Euroland is presented by progressives as the type of mixed economies they prefer and larger governments they want

The OECD countries with persistently high unemployment rate are the European welfare states – about double figures for 2 decades or more now. The reality is progressive politics pits workers against worker, and the middle-class against the poor and rich with the progressives cheering for the middle-class.

Euroland has a labour aristocracy – a two-tier system with ultra-secure workers with the permanent jobs and vulnerable temporary workers. The prime-age workers with the permanent jobs are pitted against the young, the unemployed and the older workers – these three groups are either locked-out or pushed-out. It took the equally worse recession in U.S. post-war history for their unemployment rates to reach the levels in Euroland in most any year out of the last 20.

Progressive solutions have been tried and they failed: a new word had to be invented to capture the resulting high unemployment rates and stagnant productivity growth from adopting progressive policies: Eurosclerosis!

Inequality is in; discrimination is out for Next Generation Left

Question 1

P-P-2014-06-26-typology-4-04

Source: post-partisan

How often do economists commit misconduct?

Ivan Oransky's avatarRetraction Watch

research policyWe haven’t covered that many retractions in economics, and a 2012 paper found very few such retractions. Now, a new study based on a survey of economists tries to get a handle on how often economists commit scientific misconduct.

Here’s the abstract of “Scientific misbehavior in economics,” which appeared in Research Policy:

View original post 497 more words

Walter Bagehot on parliamentary versus presidential government

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Coase, Boulding and Marshall on mathematical economics

Can anyone think of a mathematical economics proposition that was accepted that was not consistent with what Kenneth Boulding called the literary vagueness of classical economics and economic sociology:

Conventions of generality and mathematical elegance may be just as much barriers to the attainment and diffusion of knowledge as may contentment with particularity and literary vagueness…

It may well be that the slovenly and literary borderland between economics and sociology will be the most fruitful building ground during the years to come and that mathematical economics will remain too flawless in its perfection to be very fruitful.

If mathematical economics came up with a result that was not reproducible through economic intuition, did the result become popular or were they ignored? Until this barrier is passed, mathematics will be a shorthand language rather than an engine of enquiry, as Alfred Marshall argued long ago:

[I had] a growing feeling in the later years of my work at the subject that a good mathematical theorem dealing with economic hypotheses was very unlikely to be good economics: and I went more and more on the rules –

(1) Use mathematics as a shorthand language, rather than an engine of inquiry.

(2) Keep to them till you have done.

(3) Translate into English.

(4) Then illustrate by examples that are important in real life.

(5) Burn the mathematics.

(6) If you can’t succeed in (4), burn (3). This last I did often.

Marshall also

saw that excessive reliance on this instrument [mathematics] might lead us astray in pursuit of intellectual toys, imaginary problems not conforming to the conditions of real life.

Obama’s Great Recession compared

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Political philosophers have weird debates

The debate with Robert Nozick over self-ownership got to the level of do we own our own eyes or are they open for harvest and redistribution to be blind. Two working eyes is a matter of genetic luck

G.A. Cohen in Self-Ownership, Freedom, and Equality says your right to your own body outweighs commonly used socialist principles that mandate redistribution. You are entitled to keep your eyes even if the fact that you have two working eyes is a matter of genetic luck and even if a blind person needs an eye more than you do.  Good eyes are the winnings of the genetic lottery and yet

They do not immediately agree that, were eye transplants easy to achieve, it would then be acceptable for the state to conscribe potential eye donors into a lottery whose losers must yield an eye to beneficiaries who would other- wise be not one-eyed but blind.

Cohen then concluded that our real objection to an eye lottery in the actual world is not that it violates self-ownership but that people have a right to bodily integrity.

p.s. English moral philosopher, John Harris, does support a compulsory organ lottery

HT: David Gordon

Comparative Advantage and the Tragedy of Tasmania | MRUniversity

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