
Does Three Strikes Deter?
14 Aug 2022 Leave a comment
in applied price theory, econometerics, economics of crime, law and economics Tags: crime and punishment, criminal deterrence
Yes, The Climate Changes
14 Aug 2022 Leave a comment

Michael Foley writes at Quora(Excerpts in italics with my bolds and added images.)
Q: Why do most scientists believe that the climate is changing?
A: Because it is. But most scientists do not believe
human activity is the cause of the change.
The 97% of scientists belief fraud, which has been proven to be a fraud over and over again, was based on a review of the scientific literature on climate. Over 10,000 papers were reviewed and of those only about 2,000 mentioned climate change of those 1,900 were eliminated for various reasons (some of those reasons were bias based) resulting in 100 papers. Of those 100 papers 97 concluded that man’s activity may have a roll in climate change. They ranged from very likely to maybe, which is what came to be reported as the 97% figure.
There is no argument that the climate is changing,
it always…
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BBC overlooks lack of wind: ‘Drought highlights dangers for electricity supplies’
13 Aug 2022 Leave a comment
Hornsea wind project
At least they admit solar panels don’t like too much sun: ‘work much less well in high temperatures’. But high pressure systems often mean very low wind speeds.
– – –
The ongoing drought in the UK and Europe is putting electricity generation under pressure, say experts.
Electricity from hydropower – which uses water to generate power – has dropped by 20% overall, says BBC News.
And nuclear facilities, which are cooled using river water, have been restricted.
There are fears that the shortfalls are a taste of what will happen in the coming winter.
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Aboriginal and Torres Strait Islander Voice
13 Aug 2022 Leave a comment
The committee will just have the right to make representations to the government. It will make no difference until a court implies into the spartan text of the constitutional alteration the Principles of the Aboriginal Voice.
Robert Kee: Ireland – A Television History – Part 8 of 13 – ‘Rising’
13 Aug 2022 Leave a comment
Robert Kee (1919-2013) was already a veteran British broadcaster, writer, historian and journalist when his 1980 thirteen part series ‘Ireland: A Television History’ was first broadcast in Ireland and Britain.
The series was highly acclaimed as Kee followed Ireland’s complex history through the island’s development from pre-Christian times, to various uprisings down the centuries, explains the famine of 1845, the 1916 Rising, Independence and up to the late 1970s, with a specific emphasis on the creation of the modern independent republic and the roots of the Troubles. More importantly, the series presented many British viewers with their first detailed insight into the history of Irish politics, especially the issues surrounding sovereignty and identity in Northern Ireland. It could also be argued that the series did much the same for many Irish viewers too.
The series proved unexpectedly timely, since its broadcast coincided with increased tensions in Northern Ireland…
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Nationalisation of energy suppliers would solve nothing – and could make the crisis even worse
13 Aug 2022 Leave a comment
Kudos to Gordon Brown. The former Labour Prime Minister and Chancellor is at least coming up with bold ideas to tackle soaring energy bills. Unfortunately, his ideas are not new, and they are not good ones either.
Brown’s starting point is that the energy price cap should be ‘suspended’ before the results of the latest review are announced on 26 August, which presumably means that the cap would be frozen at the current level. Ed Davey, speaking for the Liberal Democrats, has also called for the rise in the cap to be scrapped.
This would obviously be popular, but it would still be poor economics. Global energy prices have jumped because supply and demand are out of balance. Market signals need to be allowed to work properly, increasing the incentives for producers to raise output and for consumers to economise, where they can.
Of course, many households are already struggling…
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The Dissolution of the Holy Roman Empire. Part V: Austrian & Prussian Rivalry
13 Aug 2022 Leave a comment
Austria and Prussia were the most powerful states in the Holy Roman Empire by the 18th and 19th centuries and had engaged in a struggle for supremacy in Germany. The rivalry was characterized by major territorial conflicts and economic, cultural and political aspects. Therefore, the rivalry continued after the Holy Roman Empire was dissolved and was an important element of the so called German question in the 19th centure.
The Margraviate of Brandenburg was officially declared one of the seven electorates of the Holy Roman Empire by the Golden Bull of 1356. It had extended most of its territory into the eastern Neumark region, and after the War of the Jülich succession by the 1614 Treaty of Xanten also gained the Duchy of Cleves as well as the counties of Mark and Ravensberg located in northwestern Germany.
Brandenburg finally grew out of the Imperial borders when in 1618 the Hohenzollern…
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Robert Kee: Ireland – A Television History – Part 7 of 13 – ‘Ulster Will Fight’
12 Aug 2022 Leave a comment
Robert Kee (1919-2013) was already a veteran British broadcaster, writer, historian and journalist when his 1980 thirteen part series ‘Ireland: A Television History’ was first broadcast in Ireland and Britain.
The series was highly acclaimed as Kee followed Ireland’s complex history through the island’s development from pre-Christian times, to various uprisings down the centuries, explains the famine of 1845, the 1916 Rising, Independence and up to the late 1970s, with a specific emphasis on the creation of the modern independent republic and the roots of the Troubles. More importantly, the series presented many British viewers with their first detailed insight into the history of Irish politics, especially the issues surrounding sovereignty and identity in Northern Ireland. It could also be argued that the series did much the same for many Irish viewers too.
The series proved unexpectedly timely, since its broadcast coincided with increased tensions in Northern Ireland…
View original post 110 more words
CFTC Orders PredictIt Shut Down- Can Political Betting Survive?
12 Aug 2022 Leave a comment
Political betting has long been in a legal grey area. It seems that the Commodities Futures Trading Commission wants to make everything black and white, but at least for now it has simply made everything murkier.
PredictIt is the largest political betting site in the US; if you want to know who is likely to win an upcoming election, its the best place to find a quick answer. Prediction markets have two great virtues- they are usually right about what’s going to happen, and if they aren’t you can bet, making money and improving their accuracy at the same time.
PredictIt has operated since 2014 under a “no-action letter” from the CFTC. Effectively, the regulators told them “we’re not saying what you’re doing is definitely legal, but we know about it and have no plans to shut you down as long as you stick to the limits described…
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The Dissolution of the Holy Roman Empire. Part IV. The Rise of Brandenburg-Prussia.
12 Aug 2022 Leave a comment
After the Peace of Westphalia and the states within the Empire had greater autonomy we saw the rise of Brandenburg-Prussia which came to rival Austria for supremacy within the Empire.
The Hohenzollern state was then known as Brandenburg-Prussia. Brandenburg-Prussia is the historiographic denomination for the Early Modern realm of the Brandenburgian Hohenzollerns between 1618 and 1701.
The family’s main possessions were the Margraviate of Brandenburg within the Holy Roman Empire and the Duchy of Prussia outside of the Empire, ruled as a personal union.
Based in the Electorate of Brandenburg, the main branch of the Hohenzollern family intermarried with the branch ruling the Duchy of Prussia, and secured succession upon the latter’s extinction in the male line in 1618.
Another consequence of the intermarriage was the incorporation of the lower Rhenish principalities of Cleves, Mark and Ravensberg after the Treaty of Xanten in 1614.
The Thirty Years’ War (1618–1648) was…
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Why Are Scam Emails Obviously Scams? A Game Theory 101 Investigation
12 Aug 2022 Leave a comment
in applied price theory, economics of crime, economics of information, law and economics Tags: adverse selection, asymmetric information, game theory, screening, self-selection
Thomas Sowell – The Real World Effects of Preferential Policies
12 Aug 2022 Leave a comment
in applied price theory, comparative institutional analysis, discrimination, economic history, economics of education, human capital, income redistribution, labour economics, labour supply, law and economics, occupational choice, poverty and inequality, Public Choice, rentseeking, Thomas Sowell Tags: affirmative action, offsetting behaviour, racial discrimination, unintended consequences
Renewables Rejected: World’s Poorest Crave Reliable & Affordable Coal-Fired Power
11 Aug 2022 Leave a comment
Eco-zealots ram wind and solar power down the throats of Third World governments, purporting to save the planet and drag millions out of poverty. But it never takes their targets long to work out that wind and solar power are both insanely expensive and hopelessly unreliable; sitting in the dark, night after night, generally does the trick.
The wind and solar obsessed in the first world are quite prepared to ensure the World’s poorest stay that way. With economic development agencies peddling ridiculously expensive solar panels – seen as ‘fake electricity’ by those lumbered with it – and forcing tinpot governments to sign up to costly and pointless wind and/or solar power schemes, the ratio of haves to have-nots is likely to stay that way for the foreseeable future.
One who doesn’t subscribe to the ‘keep them poor at all costs’ model is Bjorn Lomborg.
Why we can’t afford…
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The “Textbook Definition” of a Recession
11 Aug 2022 Leave a comment
Three weeks I wrote a blog post about how economists define a recession. I pretty quickly brushed aside the “two consecutive quarters of declining GDP,” since this is not the definition that NBER uses. But since that post (and thanks to a similar blog post from the White House the day after mine), there has been an ongoing debate among economists on social media about how we define recessions. And some economists and others in the media have insisted that the “two quarters” rule is a useful rule of thumb that is often used in textbooks.
It is absolutely true that you can find this “two quarters” rule mentioned in some economics textbooks. Occasionally, it is even part of the definition of a recession. But to try and move this debate forward, I collected as many examples as I could find from recent introductory economics textbooks. I tried to…
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