Report: Norwegian Government Using Tons Of Excess Whale Meat As Animal Feed


220px-Minke_Whale_(NOAA)As recently discussed in terms of the Japanese killing hundreds of whales despite falling demand for whale meat, Norway is continuing its commercial whaling operations despite the fact that so few Norwegians want to eat whale that the country is just giving the whale meet to feed animals on fur farms.

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The Collected Works of Henry G. Manne

Truth on the Market

I’m delighted to report that the Liberty Fund has produced a three-volume collection of my dad’s oeuvre.  Fred McChesney edits, Jon Macey writes a new biography and Henry Butler, Steve Bainbridge and Jon Macey write introductions.  The collection can be ordered here.

Here’s the description:

As the founder of the Center for Law and Economics at George Mason University and dean emeritus of the George Mason School of Law, Henry G. Manne is one of the founding scholars of law and economics as a discipline. This three-volume collection includes articles, reviews, and books from more than four decades, featuring Wall Street in Transition, which redefined the commonly held view of the corporate firm.

Volume 1, The Economics of Corporations and Corporate Law, includes Manne’s seminal writings on corporate law and his landmark blend of economics and law that is today accepted as a standard discipline, showing how…

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George Mason University School of Law to be Renamed “Antonin Scalia School of Law at George Mason University”

Truth on the Market

I am sharing the press release below:

George Mason University receives $30 million in gifts, renames School of Law after Justice Antonin Scalia

Largest combined gift in university’s history will support new scholarship programs

Arlington, VA— George Mason University today announces pledges totaling $30 million to the George Mason University Foundation to support the School of Law.  The gifts, combined, are the largest in university history. The gifts will help establish three new scholarship programs that will potentially benefit hundreds of students seeking to study law at Mason.

In recognition of this historic gift, the Board of Visitors has approved the renaming of the school to The Antonin Scalia School of Law at George Mason University.

“This is a milestone moment for the university,” said George Mason University President Ángel Cabrera. “These gifts will create opportunities to attract and retain the best and brightest students, deliver on our mission…

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Vaccine reversal therapy

Is women’s soccer unusually profitable?

If women soccer players are discriminated against, their employers must be making a lot of extra profits of their toil. If women soccer players are paid less than their marginal revenue product, the organisers of their tournaments and those that broadcasted them must be doing very well indeed.

The reality is pay in sports these days is determined by revenue from television rights. Players can top that up with sponsorship deals.

Do television commercials for men’s and women’s soccer tournaments sell for the same price? If so, do women receive a smaller percentage of that revenue stream? That is a good test of the hypothesis that they are discriminated against.


Despite the novelty of the US getting into the women’s World Cup, a 30 second commercial was sold for much much less. There may have been a ratings bonanza, but there was no accompanying revenue bonanza that could feed through to the pay of players from more generous television rights for future tournaments.

Women’s soccer is paid less because of the viewing preferences of audiences. Any sport that attracts high ratings will attract generous television rights. The money feeds through to the players.


This is a classic case of customer discrimination. Markets are very good at implementing  customer discrimination, in this case giving viewers the sports they want to see.


A classic early example of that was the introduction of foreign and minority players. Part of sport is that could be me out there kicking the goal. In consequence, viewers had a lot of trouble identifying with people who are not like them. Mankiw explains:

Studies of sports teams suggest that racial discrimination is, in fact, common and that much of the blame lies with customers.

One study, published in the Journal of Labor Economics in 1988, examined the salaries of basketball players. It found that black players earned 20 percent less than white players of comparable ability. The study also found that attendance at basketball games was larger for teams with a greater proportion of white players.

One interpretation of these facts is that, at least at the time of the study, customer discrimination made black players less profitable than white players for team owners. In the presence of such customer discrimination, a discriminatory wage gap can persist, even if team owners care only about profit.

That barrier was quickly overcome when viewers discovered that these foreign players and minorities players were very good and helped the team win more. The preference for their team winning overcame the preference for the team winning with people who look like them.

The current successive US women’s soccer should not be overrated in terms of its implications for higher pay. The Women’s United Soccer Association (WUSA) was formed in 2000 after success in the 1999 FIFA Women’s World Cup. It lasted just three seasons before folding with losses of $100 million.


Women’s soccer in the USA did have one year broadcast deals with Fox sport and ESPN in 2014 and 2013. Although no TV deal is set for the 2015 season, the NWSL recently announced that all games will be broadcast on YouTube Live for free.

The women’s sports that are best paid without exception are the women’s sports with the most valuable television rights. Closing the gap between men’s and women’s sport is exclusively in the hands of viewer.


The sponsors of women’s sports are not hiding bags of money out the back which they could have paid for women out of secret television deals worth as the same as for men’s sports.

@JordNZ best way to talk yourself out of #UBI is listen to advocate list new taxes required

Core Crown net debt in New Zealand June years, 1997–2015, % of GDP

How the Tax Burden is Shared between Buyers and Sellers



Why is Donald Trump so successful – and will he win?

Open Parachute


I think Donald Trump is a buffoon – but perhaps I have got it all wrong. According to ‘Dilbert’ creator, Scott Adams, Trump is the ultimate politician – especially in deploying his powers of persuasion. And surely that is what all politicians want to do? In fact, Adams believes  Trump is so good at persuasion that he will win the election in a landslide.

Michael Cavna outlines Adams’s arguments in the Washington Post article Donald Trump will win in a landslide. *The mind behind ‘Dilbert’ explains why. Basically, it boils down to the fact that:

“On the stump, the real-estate mogul is not running on the knowledge of his numbers or the dissection of the data. He is running on our emotions, Adams says, and sly appeals to our own human irrationality. . . . .

“Most simply put: Adams believes Trump will win because he’s ‘a master persuader.’”

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A quick and fun lesson for Indy editors: the difference between facts and opinions

A report at The Independent, by Ben Lynfield, on Knesset legislation which would allow for the suspension of sitting MKs was not particularly problematic – at least not by British media standards. The proposed law would allow the Knesset to suspend MKs (with a 90 MK majority) if they engage in incitement to violence or racism; support armed conflict against Israel; or negate Israel as a Jewish and democratic state.  

Though the bill was inspired by the moral support shown by a few Arab MKs to the families of Palestinian terrorists who murdered Israelis, this law would apply to all lawmakers, not just those from Arab parties.

Though some British media outlets have predictably amplified voices characterizing it as a bill ‘targeting’ Israel’s Arab minority, the Indy’s headline accompanying their March 30th article fails to even minimally adhere to the basic journalistic requirement of distinguishing between fact and opinion. 

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