Daily Archives: February 11, 2017

Jerry Lee Lewis – Great Balls of Fire

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Climate activists’ final act, as they move into the last stage of grief

Fabius Maximus website

Summary: Trump’s election, solidifying the Republican’s dominance at all levels of the US government, has disheartened climate activists. A new article in The Atlantic attempts to build support, but only shows the weakness of their beliefs. Perhaps the skeptics have won this round of the climate wars, but only the weather will determine which side is correct.

Climate nightmares

For 29 years advocates for public policy changes to fight climate change have struggled to convince the US public to support their agenda. They have failed. Polls show it ranks near the bottom of American’s policy priorities, and the increasingly dominant Republican Party has little interest in their recommendations.

It’s taken a while, but it looks like climate activists have worked through the process of accepting their failure. Paul Rosenberg’s January 2 article at Salon and now Meehan Crist’s article at The Atlantic suggest activists are moving into the fourth stage of the Kübler-Ross process

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South Australia Powerless (Again): Sudden 1,000MW Wind Power Output Collapse Leaves 90,000 Families Boiling in the Dark

STOP THESE THINGS

sa-load-shedding-8-2-17

Smug’: adjective – having or showing an excessive pride in oneself or one’s achievements. Eg, “he was feeling smug after his win”.

synonyms: self-satisfied, complacent, self-congratulatory, superior, puffed up, pleased with oneself, self-approving, well pleased, proud of oneself.

Yes, that’s STT: but our sense of self-satisfaction is not gleeful.

STT has been spelling out the wind power fraud, its causes and consequences since December 2012. However, until now, it has been like bashing our heads against a brick wall: relief only comes with cessation. Frustrated and angry at the morally bankrupt idiots the pretend to govern us and, worse still, parade as energy experts without the first clue about electricity grids or electricity markets, STT can only fume at the results playing out in South Australia and beyond.

True it is, that there is nothing like being (repeatedly) proved correct in a public forum, but it would…

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The problem with “economists-failed-to-predict-the-2008-crisis” macrodeath articles

The Undercover Historian

macrodeathThis week has delivered one more interesting batch of economics soul-searching posts. On Monday,  the Bloomberg View editorial board has outlined its plans to make economics more of a science (by “tossing out” models that are “refuted by the observable world” and relying “on experiments, data and replication to test theories and understand how people and companies really behave.” You know, things  economists have probably never tried…). John Lanchester then reflected on recent macro smackdown by Bank of England’s Andy Haldane and World Bank’s Paul Romer. And INET has launched a timely “Experts on Trial” series. In the first of these essays, Sheila Dows outlined how economists could forecast better (by emulating physics less and relying on a greater variety of approaches) and why economists should make peace with the  inescapable moral dimension of their discipline. In the second piece, Alessandro Roncaglia argued that considering economists as princes or…

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Did the Thirty Glorious Years Actually Exist?

Notes On Liberty

Okay, I am going for a flashy title here. I should have asked whether the Thirty Glorious were as glorious as they are meant to be. This is a question that matters in debates about both inequality and the often-bemoaned growth slowdown.

In the past (say before 1950), labor force participation was quite low (relative to today) by virtue of large family sizes and most married women not working. However, when they were at-home, these married women produced something. That something was simply not included in our national accounts. When they entered the labor force, they produced less of that something. However, since it had never been measured, we never subtracted that something from the actual output generated from their increased participation.

Even before the 1950s, this mattered considerably as growth tended to be heavily underestimated (by 0.3 percentage points from 1870 to 1890, overestimated by 0.38 points from 1890 to…

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