Everything is on Sale Compared to 1979
10 May 2018 Leave a comment
in economic growth, economic history Tags: The Great Enrichment
Deirdre McCloskey – interview
09 May 2018 Leave a comment
in comparative institutional analysis, constitutional political economy, development economics, economic history Tags: Deirdre McCloskey
My favourite Brad Delong quote for #Marx200 #Marx2018 @SenSanders
09 May 2018 Leave a comment
in applied price theory, comparative institutional analysis, economic history, economics of bureaucracy, Marxist economics, Public Choice
#Marx200 The private sector net labour share has been stable for decades in NZ! Our local top 1% should be drummed out of the international ruling class for just not trying, much less succeeding in any way in extracting more labour surplus to ensure the rich get richer and the poor get poorer
09 May 2018 Leave a comment
in economic history, politics - New Zealand, poverty and inequality
Source: Benjamin Bridgman & Ryan Greenaway-McGrevy (2016) The fall (and rise) of labour share in New Zealand, New Zealand Economic Papers, DOI: 10.1080/00779954.2016.1219763
To quote their abstract
The share of national income going to labour in New Zealand fell substantially between the 1970s and the end of the century. Approximately half of this decline was then recovered in the following decade. In this paper, we argue that the decline from the mid-1980s onwards is due to public sector reforms. Corporatisation re-orientated the public trading enterprises away from a broad range of social and trading objectives towards generating profits, while increased fiscal discipline in non-market government departments reduced payroll costs. Consistent with this hypothesis, we show that most of the decline in aggregate labour share from the mid-1980s onwards can be attributed to a significant fall in the labour share of the public sector. To more formally analyse the effects of the reforms, we build a simple model of structural transition. The model yields several predictions that are consistent with observed trends in sectoral labour share. First, there is a large and permanent decline in public sector labour share after the reforms. Second, there is a smaller, short-run decline in private sector labour share that is reversed over the long run. The model can, therefore, explain not only the decline in aggregate labour share from the mid-1980s onwards; it can also explain the partial recovery in labour share beginning in 2002.
Discrimination and Disparities with Thomas Sowell
09 May 2018 Leave a comment
in applied price theory, discrimination, economic history, economics of education, economics of regulation, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: Thomas Sowell
How Much Horse Manure Was Deposited on the Streets Before the Advent of the Automobile?
09 May 2018 Leave a comment
in economic history, health economics, transport economics Tags: The Great Escape
Classical Liberals vs. Conservatives vs. Socialists | Leonard P. Liggio
08 May 2018 Leave a comment
in Austrian economics, development economics, economic history, history of economic thought, law and economics, Public Choice, rentseeking
#Marx200 Everything Is Amazing And Nobody Is Happy #Marx2018
06 May 2018 Leave a comment
in development economics, economic history, Marxist economics, television Tags: The Great Enrichment
It was cheaper to go to the moon than to fake going to the moon
06 May 2018 Leave a comment
in economic history, health economics, politics - USA, transport economics Tags: conspiracy theories, moon landing
#Marx200
06 May 2018 1 Comment
in development economics, economic history, growth disasters, growth miracles, Marxist economics
Hans Rosling’s shortest TED talk
06 May 2018 Leave a comment
in development economics, economic history, growth disasters, growth miracles Tags: The Great Escape
Was Karl Marx right? | The Economist
05 May 2018 Leave a comment
in applied price theory, business cycles, development economics, economic history, economics of bureaucracy, entrepreneurship, history of economic thought, industrial organisation, labour economics, macroeconomics, Marxist economics, poverty and inequality, Public Choice, public economics Tags: economics of socialism
From Paul Samuelson’s essay on marxist economics
Utopia, you are standing in it! 
Recent Comments