Democratic governments, despite their commitment to rule of law, civil liberties, and political accountability, have occasionally undertaken temporary extreme measures when facing grave national crises. These actions are typically justified as necessary to preserve the state or protect the population, though they can be controversial or later seen as overreach. Here are several notable examples: 1. Suspension […]
Extreme measures by democratic governments
Extreme measures by democratic governments
07 May 2025 1 Comment
in defence economics, health economics, law and economics, war and peace Tags: constitutional law, economics of pandemics, war against terror, World War II
Casting blame for the blackout in Spain, Portugal, and parts of France
07 May 2025 1 Comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming Tags: solar power, wind power
It has long been predicted that replacing conventional synchronous generators, which rotate together with the grid, with asynchronous inverter-based resources like wind, solar, and batteries will increase the risk of blackouts. Grid planners recognize that unanticipated adverse events—such as line outages, generator trips, substation failures, and major faults—will continue to impact power grids.
Casting blame for the blackout in Spain, Portugal, and parts of France
Tabarrok on the Movie Tariff
07 May 2025 1 Comment
in applied price theory, international economics, movies, politics - USA, Public Choice, rentseeking Tags: 2024 presidential election, free trade, tariffs
The Hollywood Reporter has a good piece on Trump’s proposed movie tariffs: Even if such a tariff were legal — and there is some debate about whether Trump has the authority to impose such levies — industry experts are baffled as to how, in practice, a “movie tariff” would work. “What exactly does he want […]
Tabarrok on the Movie Tariff
The best tariff threat is one you do not have to use
06 May 2025 1 Comment
in applied price theory, international economics, politics - USA Tags: 2024 presidential election, free trade, game theory, tariffs
Following up on an earlier post, Reciprocal tariffs as a tit-for-tat strategy in a repeated prisoners’ dilemma From NY Times:Trump imposed, quickly withdrew and then threatened to bring back huge tariffs on dozens of countries. Immediately, they began calling and asking what they could do to stop him. “More than 100 countries have already come to…
The best tariff threat is one you do not have to use
A new chapter in Canadian constitutional history? The King’s return to Parliament
06 May 2025 1 Comment
in economic history, politics Tags: British politics, Canada, constitutional law
Mark Carney announced last week that the King will open the Canadian Parliament in person later this month. It’s unusual for the Canadian Monarch to give the Speech from the Throne. The last time this happened was in 1977 when Queen Elizabeth II opened Parliament during her Silver Jubilee tour. Carney’s invitation is notable because […]
A new chapter in Canadian constitutional history? The King’s return to Parliament
Squatter Syndrome: How the Inefficiencies of Our Legal System Are Making a Mockery of Our Immigration Laws
06 May 2025 Leave a comment
in Economics of international refugee law, International law, labour economics, labour supply, law and economics, politics - USA Tags: economics of immigration
It was once said that possession is nine-tenths of the law, an acknowledgement that the possessor of property generally has the advantage in keeping it. This principle has been taken to absurd extremes in some squatter cases, where people invade homes and then demand the right to stay pending long legal challenges. Today, under both […]
Squatter Syndrome: How the Inefficiencies of Our Legal System Are Making a Mockery of Our Immigration Laws
‘A negative achievement’: Behind the scenes of the House of Lords Act 1999
06 May 2025 Leave a comment
in constitutional political economy, Public Choice Tags: British constitutional law, British politics
Ahead of major pieces of legislation designed to reform the composition of the House of Lords, and our recent event ‘Reforming the House of Lords’ discussing the history of this tricky issue, Dr Emma Peplow, Head of Contemporary History, draws upon our Oral History Project to revisit the last time significant reforms were introduced. The […]
‘A negative achievement’: Behind the scenes of the House of Lords Act 1999
New Rule: Flirting with Fascism | Real Time with Bill Maher (HBO)
06 May 2025 Leave a comment
in politics - USA, television, TV shows Tags: 2020 presidential election, 2024 presidential election
The price of “free” healthcare is the wait
06 May 2025 Leave a comment
in applied price theory, economic history, health economics, politics - USA Tags: Canada, health insurance
While healthcare in Canada’s single-payer health care system is technically free, its real price is measured in wait times. In 2023, the median wait time from a general practitioner’s referral to treatment reached 27.7 weeks—the longest ever and nearly triple the 9.3 weeks reported in 1993. (MuskegonPundit) To see this, think of “free” as…
The price of “free” healthcare is the wait
Reform to ‘wage war’ against net zero ‘lunacy’ after local elections
05 May 2025 Leave a comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming Tags: British politics, solar power, wind power
The political pushback against futile climate obsession is moving forward. Voters who resent having their pockets picked via massive subsidies for renewables, while facing government pressure to buy expensive electric cars, unwanted heat pumps, and more, can clearly see an alternative. – – – Reform has said it will “wage war” against the “lunacy” of […]
Reform to ‘wage war’ against net zero ‘lunacy’ after local elections
Buffett’s Alpha
05 May 2025 Leave a comment
in entrepreneurship, financial economics Tags: active investing
Berkshire Hathaway has realized a Sharpe ratio of 0.76, higher than any other stock or mutual fund with a history of more than 30 years, and Berkshire has a significant alpha to traditional risk factors. However, we find that the alpha becomes insignificant when controlling for exposures to Betting-Against-Beta and Quality-Minus-Junk factors. Further, we estimate […]
Buffett’s Alpha
Trump proposes 100% tariff on movies shot outside the United States
05 May 2025 1 Comment
in industrial organisation, international economics, movies, politics - USA Tags: 2024 presidential election
Here is one link. Of course the proposal is not easy to understand. If it is a Jason Bourne movie, do they add up the number of scenes shot abroad and consider those as a percentage of the entire movie? Does one scene shot abroad invoke the entire tariff? o3 guesstimates that about half of […]
Trump proposes 100% tariff on movies shot outside the United States
Has international travel to the U.S. really collapsed?
05 May 2025 Leave a comment
in politics - USA, transport economics Tags: 2024 presidential election
But despite some ominous signs, a close look at the data shows that travel to the United States is largely holding up — at least so far. Nearly as many foreign travelers have arrived at American airports this year than during the same period last year, according to an analysis by The New York Times […]
Has international travel to the U.S. really collapsed?
New Rule: The United States of Dumb-merica | Real Time with Bill Maher
05 May 2025 Leave a comment
in television, TV shows
Some weak evidence in favour of an information intervention in economics to close the gender gap
05 May 2025 Leave a comment
in applied price theory, discrimination, econometerics, economics of education, experimental economics, gender, labour economics, labour supply, occupational choice Tags: gender gap, sex discrimination
I’ve written a couple of times about information interventions designed to attract more female students to study economics (see here and here). The results have generally been disappointing. That shouldn’t be too much of a surprise. If it was really simple to get people to change their behaviour with information, then advertising would be far…
Some weak evidence in favour of an information intervention in economics to close the gender gap
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