By Paul Homewood Read Trevor Stark’s analysis here.
No Such Thing as a Low-Energy Rich Country
No Such Thing as a Low-Energy Rich Country
18 Jan 2024 Leave a comment
in development economics, economic history, energy economics, environmental economics, global warming
Asia 1227
18 Jan 2024 Leave a comment
in defence economics, economic history, International law Tags: maps
📸 Look at this post on Facebook
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Unfettered: Fishback 25 Years Later
17 Jan 2024 Leave a comment
in applied price theory, discrimination, economic history, economics of information, economics of regulation, health and safety, history of economic thought, human capital, industrial organisation, international economics, labour economics, labour supply, liberalism, macroeconomics, Marxist economics, minimum wage, occupational choice, occupational regulation, poverty and inequality, unemployment, unions
A quarter century ago, economist Price Fishback published “Operations of ‘Unfettered’ Labor Markets: Exit and Voice in American Labor Markets at the Turn of the Century” in the prestigious Journal of Economic Literature. Fishback’s article is packed with insight… and understatement. But let’s back up. Virtually every standard history textbook describes U.S. labor markets before…
Unfettered: Fishback 25 Years Later
A congestion theory of unemployment fluctuations
17 Jan 2024 Leave a comment
in business cycles, econometerics, economic history, history of economic thought, job search and matching, labour economics, labour supply, macroeconomics, monetary economics, unemployment
Yusuf Mercan, Benjamin Schoefer, and Petr Sedláček, newly published in American Economic Journal: Macroeconomics. I best liked this excerpt from p.2, noting that “DMP” refers to the Nobel-winning Diamond-Mortensen-Pissarides search model of unemployment: This congestion mechanism improves the business cycle performance of the DMP model considerably. It raises the volatility of labor market tightness tenfold, […]
A congestion theory of unemployment fluctuations
Deirdre McCloskey: What Is Classical Liberalism? | Robinson’s Podcast #145
17 Jan 2024 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economic history, economics of climate change, energy economics, environmental economics, global warming, history of economic thought, law and economics, liberalism, libertarianism, Marxist economics, political change, Public Choice, public economics
The population bomb
17 Jan 2024 Leave a comment
in economic history, labour economics, labour supply, population economics Tags: ageing population
Speaking of ice ages
16 Jan 2024 Leave a comment
in economic history, energy economics, environmental economics, global warming Tags: Arctic ice caps, climate alarmism
📸 Look at this post on Facebook
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The Right and Wrong Way to Reduce Poverty, Part II
16 Jan 2024 Leave a comment
in applied price theory, economic history, human capital, income redistribution, labour economics, labour supply, occupational choice, politics - USA, poverty and inequality, Public Choice, public economics, welfare reform Tags: child poverty, family poverty
In Part I of this series, I explained that the War on Poverty, launched by Lyndon Johnson and expanded by other profligate presidents, has been bad news for both taxpayers and poor people. More specifically, I shared some academic research showing how it led to a big increase in dependency on government. Let’s expand on […]
The Right and Wrong Way to Reduce Poverty, Part II
Family leave and the gender wage gap
16 Jan 2024 Leave a comment
in applied price theory, discrimination, econometerics, economic history, gender, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: economics of fertility, family leave, gender wage gap, marriage and divorce, sex discrimination
The gender wage gap has been decreasing slowly and steadily over time. At least, that’s what I thought until I read this 2023 NBER Working Paper by Peter Blair (Harvard University) and Benjamin Posmanick (St. Bonaventure University). They present the following graph of the gender wage gap in the US (for White women, compared with White men,…
Family leave and the gender wage gap
Me too
15 Jan 2024 Leave a comment
in economic history, economics of media and culture Tags: recycling
Mattei Misjudges Hawtrey
15 Jan 2024 Leave a comment
in budget deficits, business cycles, economic growth, economic history, fiscal policy, great depression, history of economic thought, macroeconomics, monetary economics
Clara Mattei, associate professor of economics at the New School for Social Research, recently published a book, The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism, (University of Chicago Press) in which she argues that the fiscal and monetary austerity imposed on Great Britain after World War I to restore the […]
Mattei Misjudges Hawtrey
What Economics Gets Wrong Today – David Friedman | Podcast EP 29
15 Jan 2024 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, David Friedman, economic history, economics of crime, energy economics, environmental economics, global warming, history of economic thought, law and economics, liberalism, libertarianism, market efficiency, Marxist economics, Milton Friedman, property rights
Bloomberg: “Don’t be Fooled, Snow is Becoming a Thing of the Past”
13 Jan 2024 Leave a comment
in economic history, energy economics, environmental economics, global warming
Ignore your lying eyes, what you are seeing is frozen heaps of global warming?
Bloomberg: “Don’t be Fooled, Snow is Becoming a Thing of the Past”
Productivity woes….continued
10 Jan 2024 Leave a comment
in economic growth, economic history, entrepreneurship, labour economics, labour supply, macroeconomics, politics - New Zealand
In my post on Monday I drew attention (again) to the fact that New Zealand has made no progress at all in reversing the decline in relative economywide productivity (relative to other advanced countries) since what was hoped to be a turning point, with the inauguration of widespread economic reforms after the 1984 election. If anything, […]
Productivity woes….continued
40 years on
08 Jan 2024 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economic growth, economic history, fiscal policy, inflation targeting, international economics, labour economics, macroeconomics, monetary economics, politics - New Zealand
Utopia, you are standing in it! 
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