Does “Trophy Hunting” Reduce Wildlife Populations?

The Modern Libertarian

The hunting death of a lion sparked me to do some research on the economics of trophy hunting. You can still morally oppose trophy hunting (that’s your opinion), but there are objective economics of it. If the ultimate goal of conservation is to increase wildlife populations, then the trends of populations before and after trophy hunting are worth considering. My findings coincide with the economics of any valuable resource: for-profit privatization affects supply via a market price.

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Can wind and solar provide stable baseload power? @alexanderwhite @archielaw @GreenpeaceAustP

Is green energy a fad that has run its course?

Watts Up With That?

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So, How’s Your Green Energy Stock Doing?

Guest post By Steve Goreham Originally published in The Washington Times

Is green energy a fad that has run its course? The investment community seems to think so. RENIXX® World, the Renewable Energy Industrial Index of the world’s top green energy companies, hit an all-time low below 146 on November 21, down more than 90 percent from the December 2007 peak.

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Week End Blog – Zero is NOT the Lower Bound!

Jeroen Blokland Financial Markets Blog

Zero is not the lower bound! The graph below shows this was already the case, but this week the ECB and Sweden’s Riksbank hinted at even lower rates going forward. The latter could be pushed by the former as the size of ‘Draghi-style’ QE is too much for Sweden’s central bank to counter with FX intervention. Hence, we could see deposit rates go even lower!

Draghi’s statements on the possibility of more QE still echoed this week, pushing the euro firmly below 1.10 against the US dollar. The euro recovered somewhat but the significant move reveals that any divergence in central bank policy will be reflected in currency exchange rates.

Another fine example of this mechanism was presented by the depreciation of the Swedish Krona against the euro, after the Riksbank stated its dovish stance. The amount of Swedish bond buying already went up, and a further decrease of the…

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I never understood Halloween nor trick or treat

Did government pick the Internet as a winner? @stevenljoyce @dpfdpf

British detrended economic growth and the top 1% income share

Max Roser seems upset that British inequality rose since the 1980s for the top 1%. Other measures of inequality did not rise such as for disposable income.

https://twitter.com/MaxCRoser/status/657509056052133888

At the same time as top income shares grew at a pace, as shown in the chart below, the British economy boomed under the Thatchernomics, and if the British Left is to believed, under Thatchernomics by another name under Tony Blair. I’m not suggesting much in the way of linkages but the British Left gets excited about the relationship between top income shares and British economic prosperity. Britain grew at well above the trend rate of growth for the USA in the 20th‘s century for most of the period of Thatchernomics despite rising top 1% income shares or maybe course of that. Let’s not get carried away about linkages.

Source: Computed from OECD Stat Extract and The Conference Board. 2015. The Conference Board Total Economy Database™, May 2015, http://www.conference-board.org/data/economydatabase/ and Anthony B Atkinson and Salvatore Morelli CHARTBOOK OF ECONOMIC INEQUALITY.

In the chart above, British economic growth since 1970 is detrended by the growth rate of the USA for the 20th century. The USA is taken to be the global technological frontier. A flat-line in the chart above is British growth at the same rate the USA which is 1.9%; a rising line is growth in that year faster than trend; and a falling line is growth below the trend rate growth.

Osborne’s National Living Wage: Why it won’t work and why it just might

Nice discussion of tax credits, but efficiency wage argument requires you to forget entire theory of the firm, and personnel economics too.

Flip Chart Fairy Tales

Despite all the rhetoric about the Conservatives becoming the workers’ party, George Osborne’s masterstroke National Living Wage (NLW) is really just another deficit reduction policy. The government has realised that the deficit is a labour market thing and that the only way to take big lumps off social security costs is for a lot of people to earn a lot more than they do now. Solution? Get employers to pay more, so fewer people will need in-work benefits and the welfare bill will go down. Or, to put it another way, get employers to cover some of the cost of deficit reduction. That way, you can cut welfare costs without causing social unrest and, with a falling benefits bill, you don’t have to cut as much off public services. Simple eh?

Why it won’t work

This won’t work, says just about everybody. Among others, the Institute for Fiscal Studies…

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@Greencatherine 1996 US welfare reforms and the employment of single mums who were high school dropouts

https://twitter.com/hamiltonproj/status/659776768094547968

There was a step increase in the employment rate of single parents and in particular high school dropouts straight after the implementation of the 1996 US federal welfare reforms.

These single mothers who dropped out of high school were thought to be least employable and most at risk to the 1996 US welfare reform. There was a large increase in their employment and this massive improvement in their rates of employment is enduring to this day.

Land supply and the Productivity Commission

croaking cassandra

I’ve been a bit behind with my reading since I got back from holiday, but today was the first day of my son’s cricket season, and an opportunity for some concentrated reading on the sidelines.

The Productivity Commission released its final report Using land for housinglast week.  It is a long report (400 pages or so), and I’ve only read so far the 35 page summary version, and the first few chapters of the body of the report.  From what I’ve read there are some useful specific findings and recommendations. But they come in a document that – as the Commission (with its rather Stakhanovite-sounding name) documents often do –  puts altogether too much faith in government –  the good intentions, knowledge, and capacity to execute of central government in particular.  It was enough to prompt me to pull The Road to Serfdom off the shelf when I…

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