
Alan Manning on testing for monopsony power
26 Feb 2020 Leave a comment
in applied price theory, labour economics, labour supply, personnel economics
A methodological trip-wire for macroeconomic theories
26 Feb 2020 Leave a comment
in applied price theory, business cycles, history of economic thought, macroeconomics, monetary economics
February 23, 1848: Abdication of Louis Philippe, King of the French
26 Feb 2020 Leave a comment
The 1848 Revolution in France, sometimes known as the February Revolution was one of a wave of revolutions in 1848 in Europe. In France the revolutionary events ended the July Monarchy (1830–1848) and led to the creation of the French Second Republic.

Louis Philippe I (October 6, 1773 – August 26, 1850) was King of the French from 1830 to 1848. As Duke of Chartres he distinguished himself commanding troops during the Revolutionary Wars but broke with the Republic over its decision to execute King Louis XVI.
His father was Louis Philippe II, Duke of Orléans and his mother was Louise Marie Adélaïde de Bourbon. As a member of the reigning House of Bourbon, he was a Prince of the Blood, which entitled him the use of the style “Serene Highness”. His mother was an extremely wealthy heiress who was descended from Louis XIV of France through a legitimized line…
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What can BBC audiences expect if the ‘Great Return March’ returns?
25 Feb 2020 Leave a comment
The Jerusalem Post’s Khaled Abu Toameh reports that Palestinian factions in the Gaza Strip intend to renew the ‘Great Return March’ rioting (which was suspended in December) next month.
“Maher Muzher, a member of the Commission of the Great March of Return, a group consisting of various Palestinian factions in the Gaza Strip, said on Saturday that the organizers are planning mass demonstrations near the border with Israel on March 30 to commemorate the second anniversary of the weekly protests, which also coincides with Land Day. […]
Recently, the organizers of the weekly protests decided to change the group’s name to The National Commission for the Great March of Return and Confronting the Deal, reference to US President Donald Trump’s recently unveiled plan for Mideast peace.
Muzher said that work has begun to prepare for the mass demonstrations. “We will continue to work towards mobilizing a large number of people…
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Fama on a fiscal stimulus
25 Feb 2020 1 Comment
in applied price theory, budget deficits, business cycles, economic growth, financial economics, fiscal policy, global financial crisis (GFC), great recession, labour economics, labour supply, macroeconomics, monetary economics, politics - USA, Public Choice, public economics Tags: fiscal policy
Guardian grudgingly acknowledges Palestinian 9/11 celebrations
25 Feb 2020 Leave a comment
A Feb. 4th Guardian ‘expose’ on what they call a “coordinated far-right operation” using Facebook to profit “from disinformation and anti-Islamic hate” included screenshots from Facebook posts illustrating the problem – posts they claim represent “far-right”, hateful fake news.
Though most of the posts cited are indeed fake, and likely motivated by anti-Muslim animus, one of the posts they use in the article to make their point is in fact based on real news.
The Guardian caption read:
“Coordinated Facebook posts pushing disinformation about “celebrations” of the 9/11 terror attacks”.
However, as we demonstrated in a post on Feb. 5th, and in complaint to the Guardian readers’ editor and the two co-authors of the piece, the image from the Facebook post is a still shot from a widely circulated, authentic video from Sept. 11, 2001 that does show Palestinian celebrating the attacks.
After more than two weeks, and several follow-ups…
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The Gun Control IQ Test, Part II
25 Feb 2020 Leave a comment
Back in 2012, I asked readers to pretend they were criminals and to contemplate whether they would want to rob a house with armed residents.
This “IQ test” was designed to help people understand that cost-benefit analysis applies to all types of human behavior, including criminality. Some criminals are smart and some criminals are stupid, but all of them want to get the most benefit at the lowest cost.
And, at the risk of understatement, the possibility of getting shot is definitely a potential cost.
But don’t take my word for it. A Texas TV station has a very revealing story about burglars engaging in cost-benefit analysis.
In the dead of night, when no one is awake — that’s when it’s most likely that a burglar will break into your home. It usually happens in minutes, but of all the house on the block, the thieves picked yours. What…
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Australian fires: Climate ‘truth bomb’?
25 Feb 2020 Leave a comment
Recipe for Australia’s climate ‘truth bomb’: dubious manipulations of the historical temperature record, ignorance of the climate dynamics of the Southern Hemisphere, and ignorance of Australia’s ecological and social history.
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Wind Farm Wars: Farmers Pursue Wind Developer for $Millions In Supreme Court Noise Nuisance Class Action
24 Feb 2020 3 Comments
Don Fairbrother: leads lawyer-ed up band of angry locals.
The wind industry is on the defensive as the number of nuisance cases being pursued by noise affected neighbours mounts.
In Victoria, it all started at a place called Bald Hills with a lawyer named Dominica Tannock – and her firm, DST Legal: Litigation Breakout: Victorian Wind Farm Neighbours Pursuing $Millions from Wind Developers for Noise Nuisance
A couple of years back, Dominica’s clients at Bald Hills began pursing the wind power outfit responsible for their thumping, grinding misery under the Public Health and Wellbeing Act, that prohibits noise “which is, or is liable to be, dangerous to health or offensive”.
In “determining whether a nuisance arising from [noise] is, or is liable to be, dangerous to health or offensive regard must not be had to the number of persons affected or that may be affected; and regard may be had…
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BBC Complaints response invokes non-existent “pre-1967 borders”
24 Feb 2020 Leave a comment
As readers may recall, the January 29th edition of the BBC Radio 4 programme ‘Midnight News’ included a report (which is still available online) concerning the US administration’s “Peace to Prosperity” plan that included several misleading statements.
BBC Radio 4 news implies previous existence of Palestinian state in US plan report
BBC reporter Aleem Maqbool told listeners that “They [the Palestinians] have been wanting the return of occupied East Jerusalem to establish their own capital” and spoke of “Palestinians no longer having a border with Jordan and relying entirely on Israel for access”.
As noted here at the time, Maqbool’s use of the phrase “the return of occupied East Jerusalem” inaccurately suggested to listeners that that location had previously been under Palestinian control (rather than under Jordanian occupation for 19 years). His reference to “Palestinians no longer having a border with Jordan” was also misleading to listeners: none of the areas controlled by the…
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Criticism of the Efficiency-Wage Theory
24 Feb 2020 Leave a comment
Efficiency wages only works in the USA.
In all other countries there are significant protections against wrongful dismissal so it’s hard to get another job. In the USA, where firing is at will, it’s easy to risk taking on a problematic employee because they are easy to get rid off, the threat of dismissal is less severe because it’s easier to get another job. It’s not necessary to pay the wage premium because if you’re fired it’s hard to get another job so just chance of being caught shirking is strong penalty than in countries where it’s easy to get another job after being fired
The “Efficiency Wage” is a New Keynesian theory aimed to highlight a so-called market failure. Gregory Mankiw describes the theory as follows :
There are various theories about how wages affect worker productivity. One efficiency-wage theory holds that high wages reduce labor turnover. Workers quit jobs for many reasons—to accept better positions at other firms, to change careers, or to move to other parts of the country. The more a firm pays its workers, the greater their incentive to stay with the firm. By paying a high wage, a firm reduces the frequency of quits, thereby decreasing the time spent hiring and training new workers.
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Hayek to @AOC @BernieSanders @Greens @NZGreens @oxfamnz @Greenpeace
24 Feb 2020 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, constitutional political economy, economics of bureaucracy, F.A. Hayek, income redistribution, industrial organisation, labour economics, law and economics, Public Choice, public economics, rentseeking Tags: The fatal conceit

Fred S. McChesney: Public vs. Private Enterprise
24 Feb 2020 Leave a comment
in applied price theory, economics of bureaucracy, economics of information, industrial organisation, law and economics, managerial economics, organisational economics, privatisation, property rights, Public Choice, survivor principle, theory of the firm



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