Interview with David Neumark on minimum wage
08 Dec 2019 Leave a comment
in applied price theory, applied welfare economics, econometerics, economic history, economics of education, human capital, labour economics, labour supply, minimum wage, occupational choice, poverty and inequality Tags: The fatal conceit
Ronald Coase – Great minds of our time
08 Dec 2019 Leave a comment
It is my great pleasure to finally fulfill my earlier promise to blog about professor Ronald H. Coase (1910 – 2013) in my Great Minds of Our Time series.
As I blogged earlier, “Here is prof. Coase’s 2003 Coase Centennial Speech (500MB QuickTime file, recommend downloading it before you watch it) from Ronald Coase Institute’s online material section.” I now can say I have watched or listened to the video more than three times now, and I am sure I will still learning from it when I watch it again.
I am going to use a different approach to blog about professor Ronald H. Coase for this Great Minds of Our Time entry. Here is my Top 10 list,
- Ronald is a really funny and sharp witted man as we clearly can see from his 2003 Coase Centennial Speech.
- Well, he does have a Nobel…
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Steven N. S. Cheung on the first Coase theorem
08 Dec 2019 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, law and economics, property rights, Ronald Coase, theory of the firm
Jordan Peterson on “The Arrogance of the Intellect”
08 Dec 2019 Leave a comment
In his book Intellectuals and Society, Dr. Thomas Sowell points out that we live in times where intellectuals have quite a bit of influence and he provides an in depth look at the intellectual class.
According to Sowell, the high point of intellectual influence was the period between the 1960’s and 1980’s. However, intellectuals somewhat regained influence under the Obama Administration. Sowell also had something to say in his book about environmentalists too. He states:
Everything from economic central planning to environmentalism epitomizes the belief that third party elites know best and should be empowered to over-ride the decisions of others.
Nowhere was this more apparent when Paul Ehrlich advocated for policies geared to shrink populations by enforced sterilization based on his irrational claim that the availability of Earth’s resources to feed people would soon plummet due to overpopulation. Worst part about it, Ehrlich still predicts doom is right…
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.@RossMcKitrick – An Evidence-Based Approach to Pricing CO2 Emissions and carbon tax futures contracts 4 July 2013
08 Dec 2019 Leave a comment
in applied price theory, comparative institutional analysis, economics of information, energy economics, entrepreneurship, environmental economics, financial economics, global warming, market efficiency, politics - Australia, politics - New Zealand, politics - USA, property rights, Public Choice, public economics Tags: carbon tax
The Problem With “Green” Monetary Policy
07 Dec 2019 Leave a comment
Otmar Issing in this Proj Synd piece says there is no thing as Green monetary policy:
Although there is increasing support for the idea that central banks should actively contribute to the fight against climate change, monetary policymakers have no mandate to do so, and for good reason. Tackling climate change is – and must remain – the responsibility of elected governments and parliaments.
Further:
the growing public demand that central banks contribute more actively to the fight against climate change leads to a different dimension. In theory, central banks could introduce preferential interest rates for “green” activities – thus driving up the prices of “green bonds” – while adopting a more negative attitude toward noxious assets, such as those tied to fossil fuels. And yet, assessing whether and to what extent an asset is environmentally harmful or helpful would be extremely difficult.
Putting aside these more technical issues, the…
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“The world is much more than I ever knew”: the constricted lives of Haredi Jewish children
07 Dec 2019 Leave a comment
She never traveled further than 500 yards from her house
“Haredim” refers to ultra-Orthodox Jews, who constitute over 10% of the population of Israel. There are also many in New York State. They willingly live a cloistered life, having very little contact with other communities or even with less orthodox Jews. In fact, they’re the most cloistered religious community I know of, though Jehovah’s Witnesses and some Islamic communities can be pretty cloistered, with all of these having the practice of disowning those who leave the faith.
The worst part of all such groups, and especially the Haredim, is their inculcation of the religion in children who never have a choice. This propagandizing, and forcing children to live in a restricted way, is considered by Richard Dawkins to be child abuse, and I agree. If I had my way, children wouldn’t be forced to adopt a religious belief until they had the maturity to choose, but that’s hardly…
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Two quick touchstones of ideological compatibility
07 Dec 2019 Leave a comment
I like to think I made this up myself, but I suspect that somebody—I can’t remember who—gave me this idea. It goes something like this:
You can gauge someone’s ideological credibility by examining their reaction to Ayaan Hirsi Ali.
That is, if someone respects Hirsi Ali for her activities—activities that have put her life in danger from extremists Muslims—her ideas, her eloquence, and her dedication, they’re likely to have views that are, in general, ideologically compatible with my own. If, on the other hand, they decry her for “Islamophobia” or for irrelevant issues like her marriage to a conservative, then you should be very cautious.
Remember, this is a touchstone and a potential red flag for me and for those who generally agree with me. I have in fact lost a friendship after someone who had never read a word by Hirsi Ali—and couldn’t name any of her books—started criticizing…
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Climate Change and Data Manipulation
07 Dec 2019 1 Comment
Anthony Watts, founder of wattsupwiththat.com and a senior fellow for environment and climate at The Heartland Institute, talks about why the surface temperature record is flawed.
Efforts to eliminate occupational gender gaps tacitly treat male-typical choices as superior
07 Dec 2019 Leave a comment
in applied price theory, applied welfare economics, discrimination, economics of education, gender, health and safety, human capital, labour economics, labour supply, occupational choice Tags: gender wage gap

Richard Epstein | The Continuing Relevance of Hayek’s The Constitution of Liberty
06 Dec 2019 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, economic history, F.A. Hayek, history of economic thought, law and economics, property rights, Public Choice Tags: capitalism and freedom, rule of law



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