The Scalia Lecture | Judge Frank Easterbrook: ‘Interpreting the Unwritten Constitution’

Richard Posner – WikiLeaks and the First Amendment

“No, no, Dig up stupid!!”

Population density across #Europe

Paul Samuelson and Milton Friedman on the social responsibilities of business

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Are the Poor Getting Poorer?

Gap in GDP per Australian, Canadian, French, German, Japanese, New Zealander and British hour worked with the USA

This data tells more of a story than I expected. Firstly, New Zealand has not been catching up with the USA. Japan stopped catching up with the USA in 1990. Canada has been drifting away from the USA for a good 30 years now in labour productivity.image

Data extracted on 28 May 2016 05:15 UTC (GMT) from OECD.Stat from OECD Compendium of Productivity Indicators 2016 – en – OECD.

Australia has not been catching up with the USA much at all since 1970. It has maintained a pretty consistent gap with New Zealand despite all the talk of a resource boom in the Australia; you cannot spot it in this date are here.

Germany and France caught up pretty much with the USA by 1990. Oddly, Eurosclerosis applied from then on terms of growth in income per capita.

European labour productivity data is hard to assess because their high taxes lead to a smaller services sector where the services can be do-it-yourself. This pumps up European labour productivity because of smaller sectors with low productivity growth.

@PikettyLeMonde pension fund socialism has finished taking over #capitalism #Piketty

Peter Drucker first pointed out in the 70s that the retirement savings of ordinary workers will end up opening the majority of public listed companies. That day has come much to the disappointment of the Leftover Left ranging from Thomas Piketty to Max Rashbrooke.image 

Source: CONVERSABLE ECONOMIST: US Corporate Stock: The Transition in Who Owns It.

Any call for higher taxes on investment incomes and capital and even tax havens is an attack on the retirement savings of ordinary workers.

Not enough publicly spirited pigs in #AnimalFarm!

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Source: Hanif Kureishi: even the best writers face rejection | Books | The Guardian

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A Debate Within the Family: To Regulate or Not?

relinquishment

Jay Greene had a series of posts on choice regulation over at his blog.

His overarching argument: regulating school choice does more harm than good.

Broadly, I think Jay makes a number of good points. I also think he overstates his case.

More specifically, I think his arguments are somewhat strong on performance and pretty weak on equity.

I also think that Jay could be more conservative on how he generalizes fairly narrow research findings, especially given how hard he is on others who misuse research!

Overall, Jay made me think harder about how philanthropists should allocate resources across choice interventions. He might be right that there is too much attention to charters. I think if voucher proponents were more serious about equity regulation they could help shift the focus. I’d be happy to work with Jay and others on this. Nevada and other pilots that attempt to achieve scale could…

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